The Dutch Investors
The Dutch Investors is a podcast that aims to make investing practical, fun and approachable for everyday listeners. Each episode explores specific companies, industries and investing concepts, offering listeners a clearer path through their investing journey. Alongside the analysis, the hosts share stories and a dose of Dutch wisdom to help people become more confident and educated investors. The show is aimed at both beginners and those looking to sharpen their understanding of markets.
Afleveringen
#110 | AI Winners or Victims? The Case for Klaviyo, HubSpot, and Adyen
AI Victims or AI Winners?Software stocks keep falling while revenue still grows. So is AI destroying these businesses, or making them stronger? In this episode, we look at three very different companies: Klaviyo, HubSpot, and Adyen. Which ones are actually exposed to AI, which ones could benefit from it, and where the market may be overreacting.The core question is simple but important: if AI make
#109 | Is ASML too Complex to Own?
How do you invest in a company like ASML when even its engineers cannot fully explain the machine? This episode tackles the investing paradox at the heart of one of the world’s most complex businesses—and why that complexity may be part of its moat.We discuss why ASML’s EUV machines, with more than 200,000 parts, are so hard to replicate; why switching suppliers is nothing like replacing a printer
#108 | Grab: What Does Reliability Cost?
Why choose Grab when another ride-hailing app offers a cheaper fare?From a rainy evening in Vietnam to the economics behind your next ride, we explore Grab’s business model, network effects, and competition in Southeast Asia and what they mean for investors in Grab stock (NASDAQ: GRAB).A story about reliability, customer loyalty, and the questions worth asking before buying the shares.Interested i
#107 | What Happened to Dino Polska?
Dino Polska (WSE: DNP) keeps opening supermarkets across Poland, but profit growth has slowed, and its shares have come under pressure. Has the investment thesis changed? Or has the market become too pessimistic?In this episode we revisit our original Dino Polska deep dive and compare our expectations with what happened. We cover the retailer’s business model, competition with Biedronka and Lidl,
#106 | The Payments Industry | Industry Deep Dive
In this deep dive, we break down the global payments industry from the ground up, moving past the surface-level metrics to examine the hidden framework that powers every digital and physical transaction. We explore why payments are a battleground of intense competition, structural moats, and evolving technology, helping investors separate true compounding businesses from value traps.Chapter 1: Th
#105 | The beauty of Fairfax: Q&A with Asheef Lalani (Brown)
In this episode we'll get answers to some in-depth questions on Fairfax, often named the 'Canadian Berkshire Hathaway' due to its similar business model.Asheef Lalani, also known as BrownMarubozu, is a real Fairfax expert. He's been following the company closely for over six years and has been in close contact with some people working at the company. He'll help us uncover
#104 | Why Most CEOs Are Bad Investors
What is the actual job of a CEO, and why do most leaders fail at the one thing that truly drives shareholder returns? In this episode, we break down the mechanics of capital allocation, look at the playbook used by history's greatest outsider CEOs, and examine why conventional business metrics often lead investors astray.Credits to William Thorndike and his excellent book: The Outsiders - Eig
#103 | 10 Rules for Marriage That Also Apply to Investing
What do long-term public equity investing and a decades-long marriage actually have in common? More than you might think.In this special episode of The Dutch Investors, Siem te Hennepe reflects on tying the knot with his wife, Ariane, after ten years together. To mark the occasion, co-founders Bouke, Luuk, and Mathjis handed over a unique wedding gift: ten fundamental rules bridging the worlds of
#102 | Interview w/ Compound with René on Quality Investing, AI Workflows, and Market Psychology
We are joined by René, the creator behind Compound with René, live from Mallorca. Vacation or not, investing is his passion, and he thinks about it daily. We discuss the principles of finding quality companies, how artificial intelligence changes research, and the reality of navigating modern stock markets.You can find René's socials here:YoutubeXSubstackAsk us a questionSupport the showResea
#101 | 7 Disney Quotes That Make You a Better Investor
While doing a deep dive into The Walt Disney Company, we stumbled upon something unexpected: Disney characters have been dispensing timeless financial wisdom for decades.In this episode, we break down seven classic Disney lines and explore what they can teach us about market psychology, risk management, and the power of long-term compounding.It'll be a magical, somewhat nostalgic episode. 🌟As
#100 | Perimeter Solutions Deep Dive | w/ Joep Dikken from Tresor Capital
The TDI-Terminal now comes with a monthly plan! Give it a try for just $19!Every year, millions of acres of forest burn across North America, threatening thousands of homes and costing billions of dollars in damage. The biggest challenge in stopping a megafire isn't a lack of brave firefighters or aircraft but that water alone evaporates almost instantly in extreme heat.Traditionally, when a
#99 | 4 Invisible Competitive Advantages | Part 2
Most investors chase after what’s visible—the numbers on the chart, the market share, the growth rate. But what if what truly matters is hidden? Secrets that even the wealthiest can’t buy, no matter how deep their pockets. Rare, uncopyable qualities that create impenetrable moats around the business castles of tomorrow.In part two of our deep dive into competitive advantages, we leave the easily m
#98 | How strong is Shift4's competitive advantage? w/ Niklas from Heavy Moat Investments
In this episode, Niklas and Bouke dive deep into Shift4's four segments. While the underlying business has performed remarkably well, Shift4's share price has declined by over 50%. What's going on here?Shift4 is a fintech company operating in the payments space. It provides end-to-end payment processing solutions, combining software, hardware, and payment gateway services into one p
#97 | 4 Visible Competitive Advantages | Part 1
🎁 Special Announcement: To celebrate Siem's upcoming wedding on July 1st, we are giving away 30 days of full, unrestricted access to the TDI Terminal completely free. No credit card required! Head over to thedutchinvestors.com to claim your access. If you want to drop us a wedding gift, please leave a 5-star review on your favorite podcast app!Every investor has heard the word moat, but how d
#96 | TransMedics (Free) Premium Deep Dive | w/ Joep Dikken from Tresor Capital
There are roughly 100,000 people on organ transplant waiting lists in the United States right now. About 20 of them die every single day. Not because there aren't enough willing donors but because of how we transport and preserve organs.Traditionally, when a donor organ becomes available, it gets put on ice in a cooler and rushed to the recipient hospital. Ice. Like your groceries. And the pr
#95 | Interview w/ Teqnion CXO Daniel Zhang | Inside the Serial Acquirer Playbook
What does it actually look like to run a highly decentralized, fast-growing group of niche businesses?In this episode, we sat down with Daniel Zhang, the CXO of Swedish serial acquirer Teqnion. Moving past the typical, surface-level investor questions, this conversation dives straight into the gritty realities of capital allocation, operational mistakes, and the heavy weight of managing public mar
#94 | Tesla Deep Dive | Full Self-Driving, Half the Story
Tesla in 2026 is in the middle of an identity crisis. Margins are compressing, the car business is shrinking, and Elon Musk is pivoting the whole story toward AI, robots, and full self-driving. We trace TSLA from the Roadster gamble to today's $1.6 trillion bet on optionality and what has to go right from here.Ask us a questionSupport the showResearch better with the TDI TerminalFundamental r
#93 | Texas Roadhouse Deep Dive | High Steaks and Sizzling Margins
In this episode of the TDI Podcast, we are doing a deep dive into a company that breaks almost every rule taught in business school: Texas Roadhouse. How does a restaurant become one of the greatest success stories in casual dining when it refuses to serve lunch during the week, does zero national TV advertising, and requires managers to put up $25,000 before they even start?We explore the inspiri
#92 | 3 Mental models for investors
Welcome back to The Dutch Investors Podcast.If you enjoyed Part 1, you’re going to love this one. In Part 2, we’re diving deeper into the mental models that can reshape how you think. How you think matters more than you think.These aren’t just “nice to know” concepts—they’re powerful tools. They’ll help you make smarter bets and avoid traps most investors fall into.If you get value from this episo
#91 | Porsche AG Deep Dive | 911 Problems but the Story Ain't One
Porsche, once the undisputed profit engine of the automotive world, is facing its most serious challenge yet. Following a staggering 92.7% collapse in operating profit, the brand is navigating what analysts call its Nokia Moment, a struggle to reconcile mechanical excellence with a rapidly evolving EV market.In this deep dive, we explore the turbulent history of the silver crest, from its controve
#90 | Serial Acquirers, The Long View & Nordic Compounders | Interview w/ Joel Sherwood
Welcome back to The Dutch Investors podcast. In this episode, we sit down with Joel Sherwood, an American investor who has lived in Sweden for over 20 years. Joel documents his journey on Substack through the Sherwood Investment Letter, focusing heavily on the Nordic markets.We dive deep into the playbook of serial acquirers; businesses whose entire model is based on buying other niche companies a
#89 | Chipotle Mexican Grill Deep Dive | A Recipe for Success or Disaster?
In episode #91, we dive into the business behind the burrito: Chipotle Mexican Grill (NYSE: CMG).We explore how a fine-dining chef accidentally created the fast-casual restaurant category and built a global empire. This deep dive breaks down Chipotle's "Food With Integrity" model, its store-level economics, and the mechanics of the famous burrito flywheel.We also examine the risks o
#88 | Amazon Deep Dive | Inside The Everything Store Flywheel
If you think Amazon is just an online retailer, think again. From dismantling physical friction with the internet to building an infrastructure that makes everything from cloud computing to logistics look effortless, Amazon’s true power lies in its hidden, interconnected engine. Jeff Bezos’s long-term vision transformed the world’s shopping habits, but what’s next? How does Amazon defend its domin
#87 | Misunderstood Quality & First Principles | Interview w/ Aria Radnia
Join us for an insightful conversation with Aria Radnia as he shares his journey into investing, his approach to analyzing high-quality misunderstood companies, and the psychological challenges of investing. Discover practical tips, mental models, and lessons learned from years of research and experience.You can find Aria Radnia's socials here:YouTubePatreonX (Twitter)Ask us a questionSupport
#86 | Booking Holdings Deep Dive | The World's Best Online Travel Agency?
Most companies struggle to stay afloat in the hyper-competitive and efficient world of online travel, but Booking Holdings ain't one of them. From a small Dutch startup to a $135+ billion market cap giant. In this episode we uncover the secret sauce behind their unrivaled success and how they’re redefining the future of travel booking.Perfect for investors, industry insiders, and travel enthu
#85 | Amazon's 3 Pillars of Success
In 1994, Jeff Bezos saw a number that changed everything: the web was growing at 2,300% per year. He walked away from a high-paying Wall Street career to start an online bookstore.In this episode of the Dutch Investors Podcast, we explore the psychology behind Amazon’s ascent from a garage to a global powerhouse. We break down the three permanent pillars that make the company an unassailable moat.
#84 | What Darwin taught us about Investing
In this episode of The Dutch Investors, we challenge the traditional obsession with beating the market and finding the next hottest stock. Instead of looking at flashy investment manuals, we dive into the world of evolutionary biology to discover a different path to wealth.Why did the dodo bird really become extinct, and what can a 450-million-year-old sea urchin teach you about investing? We expl
#83 | Discover 4 Quality Stocks w/ Joep Dikken from Tresor Capital
In this episode of The Dutch Investors, we sit down with Joep Dikken from Tresor Capital to pitch and break down 4 high-quality stocks we both like. We dive deep into the world of high-stakes logistics and specialized service models (Transplant As A Service), examining how one company has successfully vertically integrated an entire industry’s supply chain. We discuss a Dutch holding company, a ma
#82 | Will Duolingo get disrupted? The rise and fall of the green owl w/ Secret Sauce Investing
In this conversation, The Dutch Investors and Sonny from Secret Sauce Investing delve into the rise and current state of Duolingo, exploring its business model, financial metrics, and the impact of AI on its future.We discuss the challenges of user engagement, the risks of disruption from AI technologies, and the competitive landscape in the education technology sector. The conversation culminates
#81 | Lessons on what never changes | Same as Ever - Ep. 5
Ever feel like the world is changing so fast it’s impossible to keep up? In this final episode of our series on Morgan Housel’s Same As Ever, we shift our focus away from the new and look at the timeless forces that drive our behavior. We explore incentives, why we have a weird tendency to choose complex solutions, and the long run vs. the short run.By looking at historical examples ranging from B
#80 | Lessons from history on things that never change | Same as Ever - Ep. 4
In this episode, we continue our deep dive into Morgan Housel’s Same As Ever. Instead of trying to guess what the stock market will do next week, we focus on the human behaviors that have remained unchanged for the last 500 years. We explore five timeless themes that explain why staying on top is often much harder than getting there.We also cover themes like:The Fragility of PerfectionThe Price of
#79 | How to Use AI as a Long-Term Investing Tool w/ Compound with AI
In this episode, Mostapha from Compound With AI shares his insights on leveraging artificial intelligence for investing. We discuss his journey from being a value investor to incorporating AI tools into his research process.Mostapha explains how AI can enhance the speed and depth of your investment research, allowing investors to analyze more stocks in less time. He also answers common misconcepti
#78 | Is PayPal the Ultimate Value Play or Value Trap? w/ Type-F Capital
PayPal has fallen over 80% from its all-time highs, and the market is pricing it like a business in a permanent state of decline. We wanted to find out if the market has it right or if this is one of the most misunderstood opportunities in finance today. So we sat down with Emir from Type-F Capital, a data-driven equity research analyst who has been following the company's transformation from
#77 | Lessons from history on things that never change | Same as Ever - Ep. 3
In this episode, we’re looking at why more isn't always better and why the most important changes usually happen when things are falling apart. We start with a brutal truth: a good idea on steroids quickly becomes a terrible one. Whether it’s the tragic story of the tallest man in history or the 73% stock drop Starbucks faced, we see what happens when something grows beyond its convenient siz
#76 | Lessons from history on things that never change | Same as Ever - Ep. 2
What still holds true, no matter how much the world changes? That is the question we are all left with.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 generations, and what they mean for how you think about money, fear, and uncertainty.Ask us a questionSupport the showResea
#75 | 4 Quality Stocks to Start 2026 w/ Margin of Sanity
In today’s episode, I’m joined by Peter from the Margin of Sanity podcast and Substack. We kick off 2026 by pitching two of our favorite high-conviction companies each. We focused on businesses with durable competitive advantages and valuations that allow us to sleep at night.Our picks span the globe, featuring a monopoly-like business hiding in plain sight, a Polish compounder, and a Chinese mast
#74 | Investing Lessons from Analyzing 34 Companies | Deep Dives 2025 Recap | Part 3
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.Ask us a questionSupport the showResearch better with the TDI TerminalFundamental research, live financials, KPIs, valuation tools, portfolios and the TDI community. ➡️ Explore the TDI Te
#73 | What 1600 hours of Deep Dives in 2025 taught us | Investing Lessons | Part 2
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 ove
#72 | Cellebrite Deep Dive | Unlocking the truth in digital investigations w/ Heavy Moat Investments
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 Bernardi
#71 | Investing Lessons from 34 Stock Deep Dives | What 1600 hours of research taught us | 2025 Recap | Part 1
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 kick
#70 | Thoughts on Nintendo | The Switch 2, Pokémon & the Power of IP w/ Secret Sauce Investing
Follow Secret Sauce Investing on SubstackNintendo 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 wan
#69 | The Rise of China | Interview w/ John Lin
Due to problems with the RSS feed, this episode was re-uploaded.Follow John Lin on LinkedInIn 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 expl
#68 | 5 lessons from history on things that never change | Same as Ever - Ep. 1
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 ge
#67 | Lessons from the Wright Brothers | Patience, progress & the compounding of conviction
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.Ask us a questionSupport the showResearch better with the TDI TerminalFundamental resear
#66 | Lesson from Charlie Munger and Warren Buffett on value investing | Superinvestors Ep. 1
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.Ask us a questionSupport the showResearch better with the TDI TerminalFundamental research, live financials, KPIs, valuation too
#65 | Liquor, Ladies & Leverage | The three L’s that ruin great men
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?Ask us a questionSupport the showResearch better with the TDI TerminalFundamental research, live financials, KPIs, valuat
#64 | Alphabet Deep Dive | Other bets & Valuation w/ Secret Sauce Investing | Part 2
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 leaves
#63 | Alphabet Deep Dive | Will AI destroy Google’s search empire? w/ Secret Sauce Investing
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 InvestingAsk us a questionSupport the showResearch better with the TDI TerminalFundamental
#62 | Interview w/ Nedap CEO Ruben Wegman | The end of an era
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-
#61 | 3 Lessons from Prosus and Tencent | The art of capital allocation
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 insid
#60 | Adyen Deep Dive | Who will win in payments? | By TDI-founders Bouke and Mathijs
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 some
#59 | Cake Box Deep Dive w/ Paul Zbikowski | Sweet economics
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 loyal
#58 | From caveman to capitalism | An (im)perfect system
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 smartphones
#57 | Palantir decoded | AI king or selling smoke? w/ Type-F Capital
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 myste
#56 | New rules of competitive advantages and competition | Moats & Marathons w/ Jeffrey Towson
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 C
#55 | Inside Adyen's HQ | About its moat, culture and competition | An interview w/ Tarik Manfrinato and Maggie O'Donnell
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
#54 | Serial acquirers & holding companies w/ Michael Gielkens
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 apartSpotting quality operators (and red flags
#53 | The AI-bubble 🫧
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 EasingAsk us a questionSupport the showResearch better with the TDI TerminalFundamental research, live financials, KPIs, valuation tools, portfolios and the TDI
#52 | Bear, base & bull case for global spirits | Uncorked w/ Secret Sauce Investing
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.Ask us a questionSupport t
#51 | Value investing in the digital age, earnings power & tech moats | Interview w/ Adam Seessel
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 a
#50 | LVMH Deep Dive | True luxury or premium? w/ Secret Sauce Investing
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
#49 | The shared playbook of LVMH and Constellation Software
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.Ask us a questionSupport the showResearch better with the TDI Termina
#48 | Quality investing, optionality and conviction | Interview w/ Ryan Henderson
In this episode, we sat down with Ryan Henderson; investor, podcaster, and Head of Research at FinChat. Many of you might know him from Chit Chat Stocks or the AUM Podcast, but today, dive into (quality) investing.Here’s what we talk about in this episode:Quality investingPros and cons of running a fundHow to spot compoundersThe role of ethics, governance, and founder-led incentivesWhy valuations
#47 | Strategic mediocrity, owner mindset & conviction | Interview w/ Dan Shuart from Eagle Point Capital
What does it take to be a great investor?In this episode, we sit down with Dan Shuart, founder of Eagle Point Capital, to explore a refreshing and grounded approach to long-term investing. Dan shares the philosophy behind his fund, why he embraces strategic mediocrity instead of chasing perfection, and how conviction, patience, and an owner’s mindset shape every decision he makes.We talked about:T
#46 | 6 lessons from 6 companies we analyzed | From toxic waste to billion dollar companies
From luxury giants to toxic waste monopolies, this episode unpacks what we learned from analyzing six radically different businesses:LVMHMo-BrukGames WorkshopPortillo'sHims & Hers HealthMicrosoftSome are glamorous, some are ugly, and one was literally built in a basement, but each one reveals something essential and useful. Something we can learn and take with us when analyzing other busi
#45 | The multibagger playbook | Interview w/ 100-bagger hunting | Part 2
In Part 2 of our conversation with Kevin Schoovaerts, founder of 100-Bagger Hunting, we go beyond mindset and conviction, and straight into the systems, tools, and frameworks that enable multi-bagger research.We discuss how to assess the quality of management (and why it's often overlooked), what great capital allocation looks like, and how geography and market maturity impact your odds of fi
#44 | The soldiers who didn't shoot | A story of war, humanity, and the cost of pessimism
Sometimes, the most powerful investing lessons don’t come from balance sheets or business books, they come from unexpected places.It’s a story about war, humanity, and a surprising truth that challenges what we think we know about people, and ourselves.What does it have to do with investing? More than you might think.Ask us a questionSupport the showResearch better with the TDI TerminalFundamental
#43 | The art of finding multibaggers | Interview w/ 100-bagger hunting | Part 1
In this first part of our conversation with Kevin Schoovaerts, the founder of 100-Bagger Hunting, we uncover the mindset and methods behind identifying life-changing investments. Kevin shares how his engineering background led him to embrace the complexity of markets, why he believes most investors overlook multibaggers.We explore how to develop true conviction in a stock, the mental traps that sa
#42 | Investing in Asian equities and markets | Interview w/ The Asia Economist
In this episode, we sit down with Michael Spencer, founder of Temple Street Advisors and the voice behind The Asia Economist. Michael has lived in Singapore for over 25 years and brings decades of experience studying Asian equities, markets, and macro trends from the inside out.We cover a wide range of topics, from shifting global dynamics to overlooked opportunities in Asia.We talked about:Geopol
#41 | Mental models every investor should know | Causation vs Correlation | Part 3
Every time the church bells ring, a dog barks. Coincidence? Maybe. Or maybe there's something else going on entirely.In this episode, we explore one of the most misleading tricks our minds play on us, confusing correlation with causation. From shark attacks and ice cream to investing mistakes and marketing myths, we unpack why spotting patterns isn’t the same as understanding them.Enjoy.Ask u
#39 | Quality investing, moats and valuation | Interview w/ Niklas from Heavy Moat Investments
In this episode, we're joined by Niklas, the mind behind Heavy Moat Investments. A self-taught investor and software developer from Southern Germany,We delve into:The origins and philosophy of Heavy Moat InvestmentsDefining a quality companyHow to identify a durable competitive advantageSigns of great capital allocatorsHis research processApproaches to valuationWhen and why to exit a position
#38 | The story of Chipotle Mexican Grill | What can we learn from its success and failures?
In this episode of The Dutch Investors, we dive into the spicy rise (and near fall) of Chipotle Mexican Grill. What started as one chef’s side hustle to fund his dream restaurant turned into a global burrito business worth billions. But it wasn’t all guac and glory.The main focus of the episode is, what can we, as investors, learn from this story? This episode is stuffed with business lessons (and
#37 | Fever-Tree Deep Dive | Built to be bought w/ Secret Sauce Investing
In this episode, we sit down with Sonny from Secret Sauce Investing, a drinks' industry insider and longtime investor, to dive deep into the story of Fever Tree, the premium tonic brand that helped reinvent the mixer market.We unpack how this British company turned a simple idea, into a globally recognized brand. We talk about Fever Tree's unique business model, what their strongest asse
#36 | Thoughts on Trump, trade wars, tariffs, and trust | Are we repeating history?
“Trust is the operating system. Break that, and everything on top becomes fragile.” This episode is different, and perhaps (read hopefully) the last time I'll talk about Trump. I unpack what’s been on my mind: Trump, politics, tariffs, and the slow erosion of the systems that have kept global markets humming for decades. It’s not about whether you support him or not. It’s about what happens w
#35 | Polish companies, strategies and future | Interview w/ Kamil the head of IR at Budimex
In this insightful conversation with Kamil Sochanek, the Head of Investor Relations at Budimex, Poland’s largest infrastructure company, we dive into his journey as a reliable investor with over a decade of experience in Polish equities.In this episode, Kamil shares his thoughts on several prominent Polish companies, including Dino Polska ($DNP.WA), Sygnity ($SGN.WA), Synektik ($SNT.WA), Benefit S
#34 | The highest AUV restaurant you've never heard of w/ Brett Schafer | Portillo's Deep Dive
Portillo’s is a small, Chicago-based restaurant chain with fewer than 100 locations, yet it generates more revenue per restaurant than Chipotle, Chick-fil-A, and even McDonald’s. How is that possible?In this episode, I’m joined by Brett Schafer from Chit Chat Stocks to break down Portillo’s from every angle: the unit economics, growth strategy, margins, culture, and the big question, can this conc
#33 | 5 Mental models for investors
In this episode, we're diving into something that might just change the way you see the world, mental models. But don’t worry, this isn’t a lecture. It’s more like showing how the smartest minds, from investors to scientists, deal with complexity.You’ll hear how ancient myths, gym workouts, and even birds with weird beaks somehow all tie back to making smarter investing choices.Grab a coffee,
#32 | 5 Universal laws applied to investing | Part 2
Some ideas get tested by time and just keep proving themselves right. Others seem like solutions but quietly create even bigger problems. And sometimes, the more confident we feel, the more mistakes we make.In this episode, we explore five more universal laws that shape investing in ways most people never consider. From why old ideas tend to outlast new ones to how feeling safer can actually make
#31 | Interview w/ Braden Dennis the founder and CEO of Fiscal.ai on entrepreneurship, investing and software
In this episode, we sat down with someone many of you already know, and if you don’t, you're about to meet one of the most passionate voices in finance and tech.Braden Dennis, the founder and CEO of Finchat.io, joins us to talk about entrepreneurship, investing, and what it’s like to build software for the modern investor. He shares the story behind Finchat, why he started it, and how it&apos
#30 | AI, SaaS, and scaling from Poland | A conversation w/ the head of IR at Text S.A.
A conversation with Marcin Droba, Head of Investor Relations at Polish software company Text S.A. We talk about the company’s evolution from live chat to a full AI-powered suite, the power of SaaS, and why Poland might just be one of Europe’s most underrated tech hubs.Marcin shares what it's like to work at a fast-scaling tech company, how they balance capital efficiency with innovation, and
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