The Dutch Investors

One year. 34 companies. A handful of lessons every investor should internalize. This episode extracts the recurring themes and investing lessons that surfaced across 2025. Wishing you a healthy and successful 2026. Support the show Try our all-in-one investing terminal! Research. Track. Compound. Your complete fundamental toolkit. A new company deep dive every 14 days! Professional investing tools...

In Part 2 of our 2025 recap, we dig deeper into the invisible mechanics that separate good businesses from great investments. We explore why so-called 'safe' strategies can sometimes be the riskiest moves of all, how the psychology of the ultra-wealthy defies economic rules, and why the most powerful moats are often found in the unsexiest industries. We uncover the truths learned from ov...

Is your phone ever truly locked? Today, we step into the secretive world of digital forensics to analyze Cellebrite ($CLBT), the Israeli company that helps law enforcement agencies worldwide access data from locked mobile devices. I’m joined by Niklas from Heavy Moat Investments for a thorough deep dive into this unique SaaS company. We trace Cellebrite's history from the infamous San Bernard...

Since starting The Dutch Investors, we’ve completed over 70 deep dives. But 2025 was different. We spent 1,600 hours analyzing 34 specific companies to refine our investing universe. In this series, we are sharing the output of that massive project. In Part 1 of this special 3-part series, we are opening up our research notes to share the biggest lessons learned from expanding our universe. We kic...

Follow Secret Sauce Investing on Substack Nintendo is one of those companies everyone knows. In this episode, we take a look at what’s driving Nintendo today, what the launch of the Switch 2 means and why its intellectual property might be both its greatest strength and its biggest constraint. This is a deep dive for anyone who grew up with Nintendo, invests in companies with strong IP, or simply...

Due to problems with the RSS feed, this episode was re-uploaded. Follow John Lin on LinkedIn In this conversation, John Lin shares his insights on the rise of Chinese e-commerce and its impact on global markets. He discusses his background in innovation sciences and his journey in the e-commerce industry, highlighting the differences between Chinese and Western business models. The conversation ex...

Due to issues with the RSS feed, we re-uploaded our episode. In #68 – Things that never change | Same as Ever, Ep. 1, we start a short series based on one question: what still holds true, no matter how much the world changes? Instead of guessing what comes next, this episode looks at human behavior, risk, and decision-making through a longer lens. It’s about the patterns that stay the same across...

Imagine inventing something that changes the world, and no one notices. A story of failure, patience, and conviction. This episode unpacks one of history’s greatest breakthroughs, and what it reveals about success, timing, and the way progress happens. Sometimes, the biggest revolutions begin in complete silence. Support the show Try our all-in-one investing terminal! Research. Track. Compound. Yo...

In this first episode of our Lessons from the Superinvestors series, we explore how Warren Buffett and Charlie Munger think about (value) investing. We revisit some of their timeless principles and dive into what value investing really means, straight from their own words. Support the show Try our all-in-one investing terminal! Research. Track. Compound. Your complete fundamental toolkit. A new co...

It’s one of Charlie Munger’s most famous warnings, and for good reason. In this episode, we talk about the three temptations that have destroyed more careers, fortunes, and reputations than bad luck ever could. What separates those who keep their heads from those who lose it all? Support the show Try our all-in-one investing terminal! Research. Track. Compound. Your complete fundamental toolkit. A...

In this second half of our conversation with Sonny from Secret Sauce Investing, we wrap up our 90-minute deep dive into Alphabet by tackling the parts most investors overlook: Waymo, Other Bets, and valuation. We break down whether autonomous taxis could become Google’s next multi-billion-dollar business, how to think about Alphabet beyond just search and ads, and whether today’s price still leave...

Google helped spark the modern AI revolution. Yet today, many believe it’s been overtaken by younger, scrappier rivals. How did the original AI pioneer end up playing defense? We explore what Google really has under the hood and whether its position is misunderstood, or genuinely in danger. Follow Secret Sauce Investing Support the show Try our all-in-one investing terminal! Research. Track. Compo...

After 16 years leading Nedap, CEO Ruben Wegman is preparing to step aside out of necessity. Diagnosed with Parkinson’s disease in 2018, Ruben has decided it’s time to hand over the reins of one of the Netherlands’ most respected technology companies. In this conversation, Ruben reflects on his journey, from joining Nedap in the 1990s to transforming it from a manufacturing business into a software...

Prosus is one of the most misunderstood companies in Europe, a Dutch holding giant whose fortune is tied to Tencent, one of China’s most powerful tech empires. In this episode, we unpack what happens when a great asset sits inside a complex structure, why the market discounts it, and what investors can learn from it. Three timeless lessons on capital allocation, value, and patience, all hidden ins...

Become a TDI-member! Use code: GIFT50 on checkout for 50% discount (for life!) -- Adyen has delivered a 14% CAGR since going public in 2019. Operating in one of the fastest growing markets with the potential for extremely high profitability. So we were wondering whether this was a hidden gem we've been looking for... Basically, operating in our own, backyard. Adyen is the quiet force behind s...

In this episode, we sit down with Paul Zbikowski (Bebop Value) to talk about Cake Box, the UK-based, egg-free celebration cake franchise that’s built one of the most unique niche businesses in the market. Paul shares insights from his deep research and on-the-ground visits to over 60 Cake Box stores. We discuss what makes the company unique, how its franchise model works, why customers are so loya...

In this episode, we zoom out and look at the big picture, from cavemen rubbing stones together to the global web of technology that lets you play Fortnite with strangers across the world.  Along the way, we talk about capitalism: the imperfect system that drives so much of our progress. It’s not always fair, and it’s definitely not flawless, but it has taken us from fire and survival to smartphone...

In this episode, we dive deep into the world of Palantir, with Palantir expert Emir, from Type-F Capital . We explore what sets this data analytics specialist apart from the rest.  You'll also discover how Palantir's dual-platform approach, with Foundry for commercial clients and Gotham for government agencies, allows for tailored solutions that maximize value. We'll unravel the mys...

Join us for a fascinating conversation with Jeffrey Towson. He's a leading expert on competitive advantages and digital business, and he's had a front-row seat to this incredible environment for over two decades. He's worked and lived across the US, China, and the Middle East, giving him unique insights into some of the world's most innovative tech companies. We talk about: How...

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 competitiv...

We couldn’t avoid it any longer. Michael Gielkens, co-founder of Tresor Capital, is one of the most requested guests, thanks to his long-term and down-to-earth perspective, but above all, because of his unique insights on serial acquirers and holding companies. Some of the topics we cover in this episode: What sets serial acquirers and holding companies apart Spotting quality operators (and red fl...

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 Xie 2. (English) Clarke and Dawe - Quantitative Easing Support the show Try our all-in-one investing terminal! Research. Track. Compound. Your complete fundamental toolkit. A new company deep dive every 14...

In this episode of The Dutch Investors Podcast, we welcome back Sonny from Secret Sauce Investing to unpack the turbulence shaking the global spirits industry. From Diageo and Pernod Ricard to Campari, Brown-Forman, and even China’s behemoth Maotai, we explore why share prices have stumbled, whether the headlines are overblown, and if there’s a long-term opportunity here. Support the show Try our...

In this episode, we sit down with Adam Seessel , author of Where the Money Is and Founder and Managing Member, Gravity Capital Management, to unpack how value investing has evolved in the digital age. Adam shares his personal journey from journalism to Wall Street, and how it shaped his unique approach to investing. We dive into his "Value 3.0" framework, explore the pitfalls of outdated...

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...