I'm Joep Dikken, investment analyst at Tresor Capital. With a background in financial economics, I focus on monitoring portfolio companies, carrying out fundamental analysis and identifying new investment opportunities.
Family Holdings
This week's topics: D’Ieteren took a heavy hit after disappointing half-year results: profit before tax fell by 22.7% and revenue by 2.9%, triggering a share price decline of almost 10%. Under the bonnet, however, the core business remains strong: Belron and PHE delivered solid
Media
Anyone relying on standard financial screeners or a quick glance at traditional ratios risks making a crucial mistake: judging every company by the same yardstick. This one-size-fits-all approach is particularly misleading when analysing serial acquirers and family holding companies. These are not traditional companies but, in essence,
Family Holdings
This week's topics: Alphabet suffered a setback this week with a multi-billion EU fine for abusing its advertising technology, but at the same time secured a crucial victory in a US lawsuit, in which it was decided that the company does not need to be broken up.
Deep Dives
Canadian investment holding company Brookfield Corporation (New York: BN) finds itself at a turning point in its development. Where the company was known for decades primarily as a global manager of real estate, infrastructure and renewable energy, its strategy has clearly broadened in recent years. The combination of strongly growing
Family Holdings
This week's topics: The quality of management is a crucial but difficult-to-measure factor for long-term value creation, which can be assessed through indirect signals such as communication and capital allocation. The openness of Ryan Rockafellow (TerraVest) and the no-nonsense approach of Tom Gayner (Markel)
Media
This week, Tresor Capital partner and co-owner Michael Gielkens was a guest for the second time on the Jong Beleggen podcast hosted by Milou Brand and Pim Verlaan. This episode takes a deeper look at serial acquirers: companies that grow strategically by systematically acquiring other companies. Although most acquisitions
Family Holdings
This week's topics: We sold our position in Indutrade earlier this year to reinvest in the superior-performing sector peers Addtech and Lifco, which score significantly better on profitability and return on invested capital. The AI revolution is manifesting itself in various ways: from the pragmatic, decentralised innovation
Family Holdings
This week's topics: Asseco Poland, a Polish software 'serial acquirer', offers latent potential thanks to the recent entry of Topicus.com, which together with the founder now holds a controlling stake. The implementation of the proven 'Constellation playbook' should drastically increase profitability, as previously
Media
This week, Tresor Capital partner and co-owner Michael Gielkens was a guest on the De Jong Beleggen podcast hosted by Milou Brand and Pim Verlaan. The conversation focused on the unique characteristics of family businesses, and holding companies in particular. This was part one of a two-part series;
Family Holdings
This week's topics: Alphabet's potential investment in critical AI infrastructure company Vast Data is a direct example of its broader 'moonshot' strategy, aimed at funding the fundamental building blocks of future technology. Prosus is reallocating capital by selling its stake in competitor Meituan in