Family Holding Companies
This week's topics: Asseco Poland, a Polish software 'serial acquirer', offers latent potential through the recent entry of Topicus.com, which now has a controlling interest together with the founder. The implementation of the proven 'Constellation playbook' should drastically increase profitability, as successfully
Economy & Markets
This week's topics: The US seems to be heading towards interest rate cuts due to falling oil prices and productivity gains from AI, while China and Europe are struggling economically. Dutch households leave €516 billion unused in savings accounts, missing out on wealth growth, unlike countries with a stock market culture. Cheap-looking small- and mid-cap stocks
Media
This week, Tresor Capital partner and co-owner Michael Gielkens was a guest on the Jong Beleggen podcast by Milou Brand and Pim Verlaan. They discussed the unique characteristics of family businesses, and holding companies in particular. This was part one of a two-part series; the second will be in two weeks.
Deep Dives
In the world of investing, much attention is paid to balance sheets, profit and loss accounts, and macroeconomic trends. Essential, without a doubt. But one of the most critical factors for long-term success is often underemphasized: the quality and motivations of management. The term "skin in
Family Holding Companies
This week's topics: Alphabet's potential investment in the crucial AI infrastructure company Vast Data is a direct example of their broader 'moonshot' strategy, aimed at financing the fundamental building blocks of future technology. Prosus reallocates capital by selling its stake in competitor Meituan to
Economy & Markets
This week's topics: The stock markets are turbulent due to Trump's unpredictable trade policy and increasing political pressure on the Fed, an uncertainty that is amplified by a weak US jobs report. At the same time, the economic policies and corporate profits between the market-driven, strong-performing US and the more collective, mixed Europe
Deep Dives
Earlier this month, we traveled to Hamburg for the annual Capital Markets Day and shareholders meeting of Chapters Group (Frankfurt: CHG). As Tresor Capital, we consider it of utmost importance to closely monitor the companies in our portfolio. We can confidently report that this day