AI disruption fears for BKNG are unfounded due to its moat in small-hotel supply and operations; the stock is currently undervalued and a buy.

Let's talk a little about Booking, as one of our guests has already discussed it. I also own shares in it, to be honest, but it seems to have been affected by artificial intelligence, or at least that's how it appears.

But, as you know, Muse released a report—and we're recording this episode on September 29, two weeks ago—that has had a major impact on Airbnb and Booking.

So, take this seriously, but they are saying something like Booking.com will not be necessary. This is ridiculous. As you know, Google tried to acquire the platform , not the company itself, but the market.

But she couldn't. Google possesses enormous resources. Tripadvisor tried to do the same thing, but it didn't work. Booking.com has a competitive advantage, and it will be extremely difficult for any other entity to replicate what it has done.

What Booking.com did was target small and medium-sized hotels, the boutique hotel type, and get offers from them, which made listing them on Booking.com very profitable.

Muse won't do that. Muse will not be able to handle cancellations, hotel arrangements, travel complications, or EU regulations . Now you can buy the stock at a discounted price, and I'm happy about that, so I will buy it.

At some point, the market will come to its senses and realize that this is a high-quality business venture.