Chit Chat Stocks (ABNB, ADYEN, WISE, & more) Ranking Ryan's Entire Portfolio
May 13, 2026
They rank every holding by business quality and valuation and explain the randomization and grading method. Discussions cover remittance rails and margins, Adobe’s AI risk and buybacks, Alphabet’s full-stack AI edge, Wise’s low-cost banking approach, Airbnb’s supply exclusivity, airport toll-road economics, TSMC’s chip moat, and payments integration at Adyen.
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Airbnb’s Exclusive Supply and Float Drive Durability
- Airbnb retains supply exclusivity in North America and network effects that make its listings non-commodity, supporting durable 10%+ top-line growth.
- Ryan emphasizes booking exclusivity and large FCF from float as competitive advantages.
Mexican Airports Offer Toll-Road Economics With Low Supply Risk
- Mexican airport operator Grupo Aeroportuario del Centro Norte benefits from toll-like economics, regulated pricing, and high barriers to entry.
- Trading around 11x EBIT, Ryan sees it as an A-quality business with A- valuation potential.
Wix Is Cheap Despite Real Competition From AI
- Wix faces AI competition but remains sticky for SMEs due to integrated tools for restaurants and small businesses.
- Ryan rates Wix C+ quality but gives an A valuation, citing cheap FCF multiples and strategic AI assets like Base44.