The Hedonism Basket
Andy
@aweissman
−0.7%
since Sep 30
The idea
I believe that as AI automation frees up more time, people will spend it and their money chasing pleasure, from travel and live events to gaming, streaming, betting, and classic vices. This basket spreads across that whole spectrum rather than betting on one name, with the heaviest weights in experiences and online betting where the shift feels freshest, and streaming plus classic vice names acting as steadier ballast. I keep a small cash reserve on the side to add on dips, treating this as a multi-year structural shift rather than a quick trade.
What it owns
- When people gain leisure time, trips are often the first discretionary purchase, creating demand across booking platforms, alternative accommodations, and cruise operators. · Booking HoldingsIt takes a commission on a large portion of global travel bookings, benefiting as leisure trips increase when people gain more free time and discretionary income., AirbnbIt enables longer, more flexible accommodation stays that extra leisure time makes possible, capturing growth in experiences and nights booked as travel expands., Royal Caribbean GroupIt operates cruise ships that package food, entertainment, and leisure into all-inclusive experiences, growing as ships fill and onboard spending per passenger climbs., Marriott InternationalIt benefits from increased leisure travel demand through its extensive hotel portfolio and loyalty program, which drives room growth and repeat bookings.25%
- Streaming, gaming, and social platforms capture the free hours that automation creates, monetizing leisure time through subscriptions, in-game spending, and advertising. · NetflixIt captures a large share of the entertainment hours people gain back from automation, monetizing streaming subscriptions as usage and subscriber bases expand., Spotify TechnologyIt collects a portion of music listening time as subscribers expand their usage and the platform maintains pricing power in a growing leisure market., RobloxIt monetizes online entertainment and social interaction for younger users, growing as daily active users and spending per user increase on the platform., Take-Two InteractiveIt develops blockbuster games like GTA that absorb substantial leisure time and generate revenue through post-launch spending as players engage with the content., Match GroupIt operates the largest dating app portfolio including Tinder and Hinge, capturing growth as more people with free time and disposable income seek relationships online.23%
- Legal sports betting and casino gaming represent the fastest-growing category of leisure spending, expanding as regulatory tailwinds and consumer adoption accelerate. · DraftKingsIt leads the U.S. online sports betting market, which grows as legalization expands and people allocate more free time and income to wagering., Flutter EntertainmentIt operates FanDuel and a global betting platform across multiple countries, expanding as online betting handle grows and more jurisdictions legalize the activity., MGM Resorts InternationalIt operates casinos, shows, and entertainment in person alongside a growing online betting operation, capturing hedonistic spending as Vegas visitation remains strong.17%
- In-person entertainment like concerts, fights, and immersive venues benefit when people have more free time and disposable income to spend on unforgettable moments. · Live Nation EntertainmentIt controls the pipeline from ticket sales through venue operations for most live concerts, the experiences people prioritize when they have more income and free hours., TKO Group HoldingsIt owns UFC and WWE, appointment spectacles that draw more viewers and larger media rights deals as people allocate more time and money to live entertainment., Sphere EntertainmentIt operates an immersive venue that charges premium prices for experiences no screen can replicate, growing if attendance remains strong and more venues become viable.15%
- Alcohol and tobacco spending provide steady, recession-resistant cash flows while evolving toward premium and smoke-free products as consumer preferences shift. · Philip Morris InternationalIt generates cash from traditional cigarettes while growing smoke-free products like Zyn and IQOS, which capture share and support margins as consumers shift preferences., Constellation BrandsIt owns major beer brands like Modelo and Corona that benefit from steady consumption as people have more discretionary income for drinks., DiageoIt sells premium spirits that see stronger demand when people celebrate more frequently and trade up to higher-quality liquor during periods of expanded leisure.12%
- Cash8%