The Dutch Investors

After going to Adyen's annual shareholder meetings for years, our analyst Bouke got invited to visit the HQ in Amsterdam, look around, talk to employees and even record a podcast! This was a rare opportunity to talk with Adyen's Corporate Communications and Investor Relations inside its HQ. In this episode, we share some insights about the Adyen's successful formula, the competitive landscape and Adyen's competitive advantages.It was a real pleasure talking to Tarik Manfrinato and Maggie O'Donnell.You can read more about the Adyen Formula here, and check out their blog-posts here. You can also find us on:X ⁠@DutchInvestors⁠Substack ⁠@The Dutch Investors⁠Instagram ⁠@The Dutch Investors⁠Become a TDI-member!A new company deep-dive every 14 days!Available as podcast and written reportExclusive TDI-member community24/7 live access to our personal portfolio'sUpdates on all our buys & sellsExclusive monthly newsletterExclusive industry reports & articlesEarly access to interviewsAll future updates and features!We are proud partners of Fiscal. Save 15% on any Fiscal.ai plan!Disclaimer:Nothing in this podcast can be considered financial advice. This is for educational purposes only. We may hold positions in the businesses discussed. Do your own research.  You can also find us on: X ⁠@DutchInvestors⁠ Substack ⁠@The Dutch Investors⁠ Instagram ⁠@The Dutch Investors⁠ Become a TDI-member! A new company deep-dive every 14 days! Available as podcast and written report Exclusive TDI-member community 24/7 live access to our personal portfolio's Updates on all our buys & sells Exclusive monthly newsletter Exclusive industry reports & articles Early access to interviews All future updates and features! We are proud partners of Fiscal. Save 15% on any Fiscal.ai plan! Disclaimer:Nothing in this podcast can be considered financial advice. This is for educational purposes only. We may hold positions in the businesses discussed. Do your own research.

In this discussion, Michael Gielkens, co-founder of Tresor Capital, shares his expertise on holding companies and serial acquirers. He highlights what distinguishes these entities from traditional firms and how to spot quality operators while avoiding red flags. Gielkens elaborates on why Sweden is a fertile ground for acquirers and explains the intricacies of goodwill in business. He also discusses the importance of assessing management quality and incentives, along with his favorite investment picks, showcasing his deep understanding of this niche market.

We just finished watching an outstanding piece from Dutch television on the global AI race and how it might play out, according to economist Andy Xie.Source:1. (Dutch) VPRO Tegenlicht w/ Andy Xie2. (English) Clarke and Dawe - Quantitative Easing You can also find us on: X ⁠@DutchInvestors⁠ Substack ⁠@The Dutch Investors⁠ Instagram ⁠@The Dutch Investors⁠ Become a TDI-member! A new company deep-dive every 14 days! Available as podcast and written report Exclusive TDI-member community 24/7 live access to our personal portfolio's Updates on all our buys & sells Exclusive monthly newsletter Exclusive industry reports & articles Early access to interviews All future updates and features! We are proud partners of Fiscal. Save 15% on any Fiscal.ai plan! Disclaimer:Nothing in this podcast can be considered financial advice. This is for educational purposes only. We may hold positions in the businesses discussed. Do your own research.

Explore the turbulent world of the global spirits industry. From the historical roots of distillation to the rise of brands like Diageo and Moutai, the discussion dives deep into market dynamics and investment potential. Learn about the impact of tariffs and shifting consumer behaviors on major players, while also uncovering emerging trends like luxury spirits and celebrity-owned brands. This engaging conversation uncovers opportunities for savvy investors amidst challenges in the post-COVID landscape.

In this engaging conversation, Adam Seessel, author of 'Where the Money Is' and founder of Gravity Capital Management, shares how his background in journalism informs his innovative approach to value investing. He discusses his 'Value 3.0' framework and the importance of adapting to the digital age. Topics include the misleading nature of Amazon's margins, assessing management effectively, and the evolving challenges posed by AI. Seessel also introduces the BMP checklist for evaluating investments and highlights the need for modern valuation methods in tech.

As many of our TDI members know by now, Siem has a soft spot for luxury businesses. Not necessarily because of the value they add to society (that’s up for debate), but more for what goes on behind the scenes: the psychology, the anti-marketing principles, the rich history, and all the intricate layers that make these companies so fascinating. In this analysis, Siem and Sonny dove into the biggest, and arguably most iconic, luxury company in the world. Or rather, luxury holding, if we're being precise.By the end of this analysis, you’ll have a deeper understanding of how LVMH transformed the luxury industry, its strategic approach to acquisitions, and how it maintains its position as one of the leaders in luxury goods.You can find Secret Sauce Investing here. You can also find us on: X ⁠@DutchInvestors⁠ Substack ⁠@The Dutch Investors⁠ Instagram ⁠@The Dutch Investors⁠ Become a TDI-member! A new company deep-dive every 14 days! Available as podcast and written report Exclusive TDI-member community 24/7 live access to our personal portfolio's Updates on all our buys & sells Exclusive monthly newsletter Exclusive industry reports & articles Early access to interviews All future updates and features! We are proud partners of Fiscal. Save 15% on any Fiscal.ai plan! Disclaimer:Nothing in this podcast can be considered financial advice. This is for educational purposes only. We may hold positions in the businesses discussed. Do your own research.

At first glance, LVMH and Constellation Software couldn’t be more different, one sells champagne and handbags, the other sells municipal tax software. But underneath, they share a surprisingly similar strategy. In this episode, we break down how both companies use the same disciplined playbook to scale without losing their touch. You can also find us on: X ⁠@DutchInvestors⁠ Substack ⁠@The Dutch Investors⁠ Instagram ⁠@The Dutch Investors⁠ Become a TDI-member! A new company deep-dive every 14 days! Available as podcast and written report Exclusive TDI-member community 24/7 live access to our personal portfolio's Updates on all our buys & sells Exclusive monthly newsletter Exclusive industry reports & articles Early access to interviews All future updates and features! We are proud partners of Fiscal. Save 15% on any Fiscal.ai plan! Disclaimer:Nothing in this podcast can be considered financial advice. This is for educational purposes only. We may hold positions in the businesses discussed. Do your own research.

In this engaging discussion, Ryan Henderson, an investor and Head of Research at FinChat, dives deep into quality investing and the significance of ethics in financial decisions. He shares insights on navigating the investment landscape amid uncertainty, emphasizing a long-term philosophy focused on founder-led companies. Ryan explores optionality in investing, detailing how companies can innovate and diversify. He also touches on the balance between personal beliefs and financial gains, providing actionable advice for aspiring investors.

Dan Shuart, founder of Eagle Point Capital, dives into long-term investing with a unique focus on 'strategic mediocrity.' He explains why aiming for simplicity and steady returns often trumps the pursuit of perfection. Emphasizing capital preservation and the significance of free cash flow, Dan advocates for an owner’s mindset that drives conviction in investment decisions. He shares insights on navigating market fluctuations and underscores the value of patience and thorough research in achieving sustained success.

Dive into the lessons learned from diverse companies, from luxury giants to toxic waste monopolies. Discover how local monopolies thrive in unattractive sectors and the grassroots success story of Games Workshop. Explore Portillo's focus on quality and simplicity in the restaurant industry, alongside a health tech firm redefining telehealth. Finally, uncover Microsoft's insights on creating indispensable infrastructure and removing friction in business. Each story offers valuable takeaways for investors and entrepreneurs alike.