Seeking Alpha·2025-11-07 17:00Core Insights - The analysis focuses on Booking Holdings (BKNG) and its business model, highlighting the author's extensive experience in evaluating diverse industries and economic factors [1]. Group 1: Business Model and Valuation - The company operates in a complex environment, requiring a deep understanding of various business models and market dynamics [1]. - The author emphasizes the importance of learning from past crises and applying that knowledge to current investment opportunities [1]. Group 2: Experience and Analysis - The author has over 30 years of experience analyzing a wide range of industries, including airlines, oil, retail, mining, fintech, and e-commerce [1]. - The analysis reflects a commitment to continuous learning and adaptation in response to technological innovations and market changes [1].