TickerTain
$SPCX····$NVDA····$MSFT····$GOOGL····$ANTHROPIC·$TSLA····$CRWV····$NBIS····$HIMS····$TSM····$ASML····$FIGURE·$LYFT····$UBER····$SNOW····$META····$ELEVENLABS·$CURSOR·$COGNITION·$OPENAI·$AAPL····$RKLB····$XAI·$AMZN····$AMD····$000660.KS····$INTC····
←

travis hoium

T3 · host / generalist

Travis Hoium hosts the Asymmetric Investing podcast/YouTube channel and manages the Asymmetric portfolio. He conducts fundamental research using Fiscal AI and focuses on platform business models, healthcare technology, and consumer subscription businesses. He discloses holding Hims & Hers as one of his largest positions.

283 calls·95 names·54% bull·last heard 3 days ago·Asymmetric Investing
track recordleaderboard →
hit rate
60%
avg alpha
+1.0pp
scored
40

top calls

best measured alpha vs SPY · one per company
1st+51.3pp vs SPY
$SERVServe Robotics

Serve Robotics has $2.7M revenue, $113M operating loss, 2-year cash runway

Serve Robotics generates minimal revenue with negative gross profit and massive operating losses; with only ~2 years of cash, it's a hype bet not an operational business. Aggregators like Uber/DoorDash will capture value, not commodity robotics suppliers.

Asymmetric Investing2026-04→
2nd+49.6pp vs SPY
$MSTRMicroStrategy

MicroStrategy called a Bitcoin Ponzi scheme using debt to buy speculative asset

MicroStrategy uses debt to buy Bitcoin whose only value is potential resale at higher price; it's a leveraged bet on Bitcoin, not an operating business, and could collapse quickly if Bitcoin drops.

Asymmetric Investing2026-04→
3rd+44.8pp vs SPY
$HIMSHims & Hers Healthposition

Asymmetric Investing host remains bullish on HIMS despite noisy earnings: 25-35% core growth at 1.7x EV/Sales

The host argues HIMS's reported growth deceleration is noisy due to GLP-1 compounding revenue recognition changes and FDA regulatory shifts; core growth is 25-35% with positive operating cash flow, 1.7x EV/Sales valuation, and optionality from Eucalyptus/Zava acquisitions. Remains invested with 30% CAGR 10-year bull case.

Asymmetric Investing2026-02→

most discussed · click a bar to filter

recurring themes

283 total
$HIMS
···
Hims & Hers Health
HIGHtravis hoium·Asymmetric Investing·3 days ago· position
Hoyam holds largest position in Hims & Hers, cites AI-driven data flywheel in GLP-1 weight loss
Hims & Hers is building a doctor-led AI-native care experience that embeds intelligence at every step, using proprietary hardware (smart scales) to create a real-time data flywheel for GLP-1 weight loss treatment, making it a unique aggregator of demand that traditional healthcare cannot replicate.
"the biggest position in my Asymmetric portfolio is Hims & Hers... this is one of the reasons that I own the stock because this is the kind of thing that a typical doctor, pharmacy…"
0:54
$UBER
···
Uber Technologies
HIGHtravis hoium·Asymmetric Investing·4 days ago· position
Travis Hoy names Uber as largest portfolio position, sees 20%+ booking growth at 15x earnings
Uber's bookings grow 20%+ CAGR while trading at 15x earnings and 11x forward free cash flow; UK revenue recognition changes create optical revenue deceleration but no impact on gross profit, operating profit, or free cash flow; autonomy aggregator strategy with 15+ AV partners positions Uber to surpass Waymo in fleet scale by 2030, driving multiple expansion.
"Right now, I think that opportunity is Uber. Uber continues to grow their revenue and their bookings at a compound annual growth rate in excess of 20%. And yet the stock is crashi…"
0:19
$META
···
Meta Platforms
LOWtravis hoium·Asymmetric Investing·4 days ago
Meta cited as 2023 example of Wall Street mispricing creating buying opportunity
Meta in 2023 was a stock Wall Street got completely wrong due to short-term worries, creating a great buying opportunity for asymmetric investors.
"In 2023, that was Meta Platforms. The stock created on short-term worries, and that was a great buying opportunity for investors."
0:03
$GOOGL
···
Alphabet
MEDtravis hoium·Asymmetric Investing·4 days ago· position
Hoy owns Alphabet, praises Waymo's vertical integration but favors Uber's aggregator model
Alphabet's Waymo has a phenomenal first-mover strategy with vertical integration, but Uber's aggregator approach across 15+ autonomous vehicle partners (Lucid, Zoox, Pony AI, etc.) could yield larger fleet scale by end of decade.
"Alphabet is a company that I own. So I love what Waymo is doing today. I think they have a phenomenal strategy and as the first mover makes sense for them to be vertically integra…"
7:16
$GOOGL
···
Alphabet
MEDtravis hoium·Asymmetric Investing·4 days ago· position
Hoy owns Alphabet and praises Waymo's vertical integration as first-mover advantage
Waymo's vertically integrated autonomy strategy makes sense as a first mover, but Uber's aggregator approach targeting suppliers 4-8 creates a larger total addressable market.
"Alphabet is a company that I own. So I love what Waymo is doing today. I think they have a phenomenal strategy and as the first mover makes sense for them to be vertically integra…"
7:10
$ZETA
···
Zeta Global
HIGHtravis hoium·Asymmetric Investing·14 days ago· position
Hoium adds Zeta Global on $1B credit facility flexibility
The $1B credit facility at attractive SOFR-based rates gives Zeta optionality for M&A, buybacks, and funding enterprise intelligence expansion while core business generates $200M+ FCF growing >20% at 22x forward P/E.
"given the core growth rate, given the cash flow that's coming from the business, this is one of the stocks that I've been adding in 2026"
0:21
$HIMS
···
Hims & Hers Health
HIGHtravis hoium·Asymmetric Investing·13 days ago· position
Hoyam calls FTC lawsuit nothingburger, sees buying opportunity as Hims & Hers disrupts pharma
The FTC lawsuit is a sign Hims & Hers is winning as the front door to healthcare, terrifying Big Pharma; any fines are immaterial relative to revenue and subscriber growth trajectory.
"I own shares of Hims & Hers, why is this is the biggest position in the Asymmetric portfolio... This is ultimately a nothingburger long-term for Hims & Hers and it shows that Hims…"
0:49
$FISCAL-AI
Fiscal AI
MEDtravis hoium·Asymmetric Investing·13 days ago
Hoyam endorses Fiscal AI for Hims & Hers KPI tracking and subscriber analytics
Fiscal AI provides critical KPI data like subscriber counts and ARPU that are essential for tracking Hims & Hers' growth trajectory in the GLP-1 market.
"I also want you to check out this video sponsor Fiscal AI... the biggest differentiator for me with Fiscal AI is the fact that they have key performance indicators. So when I cove…"
1:07
$UBER
···
Uber Technologies
HIGHtravis hoium·Asymmetric Investing·4 days ago· position
Hoy calls Uber Wall Street's most misunderstood stock with 20%+ booking growth at 15x earnings
Uber's revenue deceleration is an accounting artifact from UK driver-payment reclassification that doesn't affect gross profit, operating profit, or free cash flow; gross bookings grow 22% YoY, margins expand, and the autonomy aggregator model could give Uber more robotaxis than Waymo by 2030, driving multiple expansion.
"Uber continues to grow their revenue and their bookings at a compound annual growth rate in excess of 20%. And yet the stock is crashing and trading for about 15 or 16 times earni…"
0:15
$ONON
···
On Holding
HIGHtravis hoium·Asymmetric Investing·5 months ago· position
Hoium sees On Holding CEO shuffle as buying opportunity not red flag
Co-founders returning as co-CEOs after 13-year executive Martin Hoffman steps down; company growing ~30% with 63% gross margins and forward P/E of 24.5, trading at only 2.8x EV/sales vs Nike's 2x despite superior growth and margins.
"As an On Holding shareholder, this is not the kind of thing that really worries me about the company. This is not a wholesale change. This is not firing the CEO and bringing someb…"
0:30