Everyone likes to buy bargains. In the stock market, but definitely also in our daily lives. Today, we’re delving into British investment company 3i, which specializes in private equity and infrastructure. How does this rhyme with the first sentence of this introduction? Well, that’s because discount chain Action is 3i’s biggest holding by far. The company accounts for almost 90% of 3i’s private equity GIR (Gross Investment Return). 

Logically, we will mainly focus on Action in this analysis. From the moment 3i bought out Action, the company has grown net sales with a CAGR of 26%. It is a bummer that this company isn’t fully Dutch anymore, but the headquarters of Action is still located in The Netherlands. With more than 400 stores located in the Netherlands, accounting for almost 20% of revenues, this situation allows me to do some market research in real life. 

Included in this analysis are my experiences in some Action shops and how the prices compare to supermarkets, drugstores and online retailers in the Netherlands. Is Action really the cheapest option? And what allows this company to open one store a day in Europe? Let’s find out!

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.

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Edenred is a French employee benefits platform offering meal vouchers, fuel cards, and corporate payment tools. It operates a capital-light B2B2C model with recurring revenue, strong network effects, and a dominant 40% market share in a consolidated industry. 

In this deep dive I'll share if I will swap my Pluxee shares to Edenred shares. 

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.

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If you think about the semiconductor industry, companies like ASML, Nvidia and TSMC probably come to mind. All unique powerhouses with key roles in the global economy. I can imagine you’re getting bored with hearing the same stories about the same companies in this industry over and over again. That’s why we’re going to discuss a business that’s probably new to you. 

In this analysis, a leading semiconductor company that’s active in assembly equipment will be reviewed. The company is worth around €10 billion and the founder of the business is still in charge of the company. It is headquartered in Duiven, a small city in The Netherlands. Let’s introduce you to BE Semiconductor Industries (Besi). 

The combination of having a €10 billion market cap and a leading position already reveal it: Besi operates in a niche industry. The assembly equipment category accounts for just 4% of total semiconductor equipment value. In this space, Besi makes its money and paves the way for even greater dominance in this area. 

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.

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Wise has historically grown revenues at over 20% annually, is already profitable, and remains founder-led. With a long runway ahead and plenty of legacy players to disrupt, the story looks compelling… But is everything really as good as it seems? That’s what we’ll uncover in this analysis. 

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:

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Copart is a business that is known by a select group of investors. Mainly the ones interested in searching for 100-baggers might be familiar with the company. With a share price increase of around 31,000%, Copart has already checked that ‘100-bagger box’. 

Copart is a business that’s active in reselling cars and car parts. The company owns huge ‘junkyards’ to store cars until they are sold on their own online auction platform. So why call it a junkyard? That’s because most of the cars that Copart offers on its platform have severe damage. With cars in that stage, the sum of the parts is likely to be higher than the car as a whole. That’s why it’s interesting for buyers and traders to participate in these auctions. 

Copart’s market value is approaching the $50 billion mark (again). In this analysis, we will delve into the business model and moat of Copart and look at their future. Can this great performing company still be a good investment from today's prices? Let’s find out if there’s still some gold to be made here. 

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:

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Few companies have haunted my investing mind like Costco. When I first researched it three years ago, I was impressed, but did not invest due to its high valuation. Since then, the stock has doubled. Ouch. A classic error of omission. But what makes Costco worth watching in the first place? In a sector often plagued by sameness and razor-thin margins, Costco stands out with a rare and powerful competitive edge: scale economies shared. Instead of hoarding the benefits of scale, Costco gives them back to its customers. That’s what makes it not just a retailer, but arguably one of the best businesses on the planet. Let’s explore whether Costco is just as compelling from an investment perspective...

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:

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As many of our loyal TDI members know by now, I’ve got 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, we dive 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 deep 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.

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:

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Microsoft is everywhere: from the software on your laptop to the cloud behind your favorite app. In this analysis, we break down the full empire: from LinkedIn and Office to Azure, GitHub, and Microsoft Gaming. But not every part of this tech giant is a goldmine. We’ll uncover which business units are true value drivers… and which might just be along for the ride. Whether you're a long-time shareholder or just curious about one of the world’s most powerful companies, this deep dive will challenge what you think you know about Microsoft... 

Without further ado, let's delve in!

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

Microsoft is everywhere: from the software on your laptop to the cloud behind your favorite app. In this analysis, we break down the full empire: from LinkedIn and Office to Azure, GitHub, and Microsoft Gaming. But not every part of this tech giant is a goldmine. We’ll uncover which business units are true value drivers… and which might just be along for the ride. Whether you're a long-time shareholder or just curious about one of the world’s most powerful companies, this deep dive will challenge what you think you know about Microsoft... 

Without further ado, let's delve in!

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

Is Ulta the beauty or the beast? Maybe the better question is this: is Ulta Beauty a stock for the quality investor or the value investor? Ulta is often pitched by both camps. But do those pitches actually make sense? In this analysis, you’ll find out.

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