@TravisHoium
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I research stocks that can 10x in value over 10 years. Start for free with the Asymmetric Investing newsletter or find me on YouTube.
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Joined February 2010
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2025 is in the books, and it was both outstanding and unsatisfying.
If you had told me at the beginning of the year, the Asymmetric Portfolio would more than double the market's performance, I would have taken it.
But after being up 53% early in October, the final results feel unsatisfying.
The good news is, this is a long game. I'm happy to buy some of my favorite stocks 30-50% off their highs, and long-term, these compounding businesses will become compounding stocks.
Thank you to everyone who subscribes, and if you want to see the portfolio's performance, the linked article is free to view.
Bring on 2026!
asymmetric-investing.beehiiv…
The best investors are on a constant learning journey.
Buffett started buying "cigar butt" stocks and evolved to a buy-and-hold strategy.
Bill Gurley has made a fortune on internet companies and the internet didn't even exist when he started.
Learn, implement, repeat.
Travis Hoium retweeted
I didn't understand Netflix $NFLX 10 years ago, but I learned lessons from that mistake.
1. Users > Profits: In a digital business, it's critical to reach scale. Profits don't matter on the path to scale.
2. Delay Taking Price: Margins are low? Who cares! See #1.
3. Suppliers eventually have to bend the knee to the one who owns demand.
You don't say, "I'm going to watch Sony's K-Pop tonight." You say, "I'm going to watch Netflix."
Demand matters above all else.
Owning the customer is the ultimate goal.
The companies we CHOOSE to interact with are the ultimate winners on the market.
"My biggest wins have been unexpected. This is intentional, but not predictable."
- me, Jan 13, 2024
Travis Hoium retweeted
Writing ~3,000 words supporting (and trying to break) the investment thesis for every stock I own has been the most important change I made in 2023.
Travis Hoium retweeted
"Volatility is the price of admission. The prize inside is superior long-term returns." - @morganhousel
"Volatility is the price of admission. The prize inside is superior long-term returns." - @morganhousel
If you like this tweet, you will love my exclusive emails for my subscribers.
Join here: asymmetric-investing.beehiiv…
Travis Hoium retweeted
📈 My dream investing world:
1️⃣ Inconsistent dividends are OK!💰
2️⃣ Financial statements should read right to left!
3️⃣ Earnings calls on a lie detector. Let's make em really sweat!🔍
Travis Hoium retweeted
Missing a 100x opportunity to get a 10% better price is a mistake you'll never forget.
If AVs expand the market for rides 10x, it's possible that maintaining AVs provides enough jobs to more than offset all Lyft/Uber driver jobs.
A great AV program requires world-class people and places to keep them running.
As part of our partnership with @Waymo, we just opened a new @Flexdrive depot in Nashville: 80,000 sq ft, the first one purpose-built for AVs, staffed in part by current and former @lyft drivers
Let's go Nashville!
lyft.com/blog/posts/flexdriv…
Filter out bad companies (no matter the price) from consideration, and you'll increase your odds of success.
"Revenues are expected to decline high-single digits in fiscal 2027." $NKE
That's about all you need to know.
Travis Hoium retweeted
Your best investments won't feel smart, they'll feel dumb in the moment.
Only in hindsight will "obvious" investments seem smart.
I want you to interview a normie who doesn’t think this technology makes their life all that much easier. Maybe they use Muse to organize their calendar, but they’re never building an app.
That would be much more interesting than AI bulls talking with AI bulls about what normies are eventually going to do with AI.
When people ask whether "this" or "that" will be successful in AI, the answer is very often both.
OpenAI and Anthropic together represent the fastest, largest success in the history of business. They + SpaceXAI + Cursor add more revenue per month than any hyperscaler other than Amazon. Up until now, headlines like these have been driven effectively off coding applications alone. We are very early.
Thank you @jaltma for having me on!
The best way to beat the market is to buy companies playing offense and sell companies playing defense.
No big winner is ever playing from their back foot.
Your best investments won't feel smart, they'll feel dumb in the moment.
Only in hindsight will "obvious" investments seem smart.
Travis Hoium retweeted
Keep in mind:
Bear Stearns failed in March 2008 when unemployment was 5.1%
Lehman Brothers Failed in September 2008 when unemployment was 6.1%
The stock market bottomed in March 2009
Unemployment peaked in October 2009
There's a lag between the catalyst and the outcome.
