The Dutch Investors

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 measurable financial metrics behind to explore the four most elusive, bulletproof structures in the business world. These are the invisible forces that deep pockets cannot replicate, concluding with the single most powerful strategy that most analysts miss entirely.
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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.

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 platform. The company serves merchants in industries such as restaurants, hospitality, retail, and entertainment, enabling them to accept transactions both in-store and online. 
To read our 30-page analysis on Shift4, become a TDI Member.
To follow more of Niklas's work, click here.
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
Live company financials and KPIs
Exclusive TDI-member community
24/7 live access to our personal portfolio's
All our buys & sells
And much more!
➡️ www.TDI-Terminal.com
You can also find us on:
X ⁠@DutchInvestors⁠
Substack ⁠@The Dutch Investors⁠
Instagram ⁠@The Dutch Investors⁠
🎁 Proud partners of PDT. Save 15% on any PDT plan! 
🎁 Proud partners of Fiscal. Save 15% on any Fiscal.ai plan!
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.

🎁 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 do you separate a genuine corporate stronghold from a company that just had a few lucky quarters?
In part one of this special two-part series, we break down four traditional competitive advantages that leave a clear, visible trail right in the financial statements. These are the structural frameworks that allow elite companies to widen their market share, slash unit costs, and lock out the competition.
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
Live company financials and KPIs
Exclusive TDI-member community
24/7 live access to our personal portfolio's
All our buys & sells
And much more!
➡️ www.TDI-Terminal.com
You can also find us on:
X ⁠@DutchInvestors⁠
Substack ⁠@The Dutch Investors⁠
Instagram ⁠@The Dutch Investors⁠
🎁 Proud partners of PDT. Save 15% on any PDT plan! 
🎁 Proud partners of Fiscal. Save 15% on any Fiscal.ai plan!
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.

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 problem is that this method called static cold storage gives surgeons very little time. A donated heart, for example, starts deteriorating about 4 hours after retrieval. If you can't get it to the patient in time, it's unusable. Organs from donors far away often get rejected simply because the logistics are too difficult.
TransMedics built the solution to that. 
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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
Live company financials and KPIs
Exclusive TDI-member community
24/7 live access to our personal portfolio's
All our buys & sells
And much more!
➡️ www.TDI-Terminal.com
You can also find us on:
X ⁠@DutchInvestors⁠
Substack ⁠@The Dutch Investors⁠
Instagram ⁠@The Dutch Investors⁠
🎁 Proud partners of PDT. Save 15% on any PDT plan! 
🎁 Proud partners of Fiscal. Save 15% on any Fiscal.ai plan!
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.

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 market expectations.
Daniel pulls back the curtain on how Teqnion thinks and operates.
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
Live company financials and KPIs
Exclusive TDI-member community
24/7 live access to our personal portfolio's
All our buys & sells
And much more!
➡️ www.TDI-Terminal.com
You can also find us on:
X ⁠@DutchInvestors⁠
Substack ⁠@The Dutch Investors⁠
Instagram ⁠@The Dutch Investors⁠
🎁 Proud partners of PDT. Save 15% on any PDT plan! 
🎁 Proud partners of Fiscal. Save 15% on any Fiscal.ai plan!
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.