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Arjan Bartlema

Jan 92 min read

𝐒𝐢𝐱 𝐦𝐨𝐫𝐞 𝐲𝐞𝐚𝐫𝐬 𝐨𝐟 𝐋𝐢𝐟𝐞 𝐚𝐬 𝐰𝐞 𝐤𝐧𝐨𝐰 𝐢𝐭

Will AI surpasses human-level intelligence? And when is this likely to happen? We are taking about Human-level AI, often referred to as...

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Arjan Bartlema

Jan 91 min read

𝐅𝐫𝐞𝐞 𝐦𝐚𝐫𝐤𝐞𝐭𝐬 𝐚𝐫𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐝𝐞𝐟𝐥𝐚𝐭𝐢𝐨𝐧𝐚𝐫𝐲

In just 50 years, the microprocessor technology experienced a 100-billion-fold improvement, right on schedule for Moore's Law. Here’s a...

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Arjan Bartlema

Oct 11, 20231 min read

𝐍𝐨 𝐨𝐧𝐞 𝐰𝐚𝐬𝐡𝐞𝐬 𝐚 𝐫𝐞𝐧𝐭𝐚𝐥 𝐜𝐚𝐫

Strange that. But not strange at all. If you go to first principles, every individual is driven by incentives: pain and pleasure. So when...

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𝐁𝐢𝐭𝐜𝐨𝐢𝐧 𝐦𝐢𝐧𝐢𝐧𝐠, 𝐚 𝐠𝐨𝐥𝐝 𝐦𝐢𝐧𝐞 𝐟𝐨𝐫 𝐞𝐧𝐞𝐫𝐠𝐲-𝐫𝐢𝐜𝐡 𝐜𝐨𝐮𝐧𝐭𝐫𝐢𝐞𝐬

Arjan Bartlema

Oct 11, 20232 min read

𝐁𝐢𝐭𝐜𝐨𝐢𝐧 𝐦𝐢𝐧𝐢𝐧𝐠, 𝐚 𝐠𝐨𝐥𝐝 𝐦𝐢𝐧𝐞 𝐟𝐨𝐫 𝐞𝐧𝐞𝐫𝐠𝐲-𝐫𝐢𝐜𝐡 𝐜𝐨𝐮𝐧𝐭𝐫𝐢𝐞𝐬

After El Salvador, Costa Rica and Bhutan, Indonesia has recently joined the list of countries that have already started or soon intend to...

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Arjan Bartlema

Oct 11, 20232 min read

𝐄𝐁𝐈𝐓𝐃𝐀 𝐢𝐬 𝐧𝐨𝐭 𝐰𝐡𝐚𝐭 𝐢𝐭 𝐬𝐞𝐞𝐦𝐬

I spent my previous life in corporate finance buying and selling companies this was in the 1990s and the word EBITDA was not yet...

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𝐇𝐢𝐬𝐭𝐨𝐫𝐲 𝐫𝐞𝐩𝐞𝐚𝐭𝐬 𝐚𝐬 𝐁𝐞𝐭𝐞𝐫 𝐁𝐞𝐝 𝐬𝐡𝐨𝐨𝐭𝐬 𝐮𝐩 𝟖𝟎%

Arjan Bartlema

Oct 11, 20231 min read

𝐇𝐢𝐬𝐭𝐨𝐫𝐲 𝐫𝐞𝐩𝐞𝐚𝐭𝐬 𝐚𝐬 𝐁𝐞𝐭𝐞𝐫 𝐁𝐞𝐝 𝐬𝐡𝐨𝐨𝐭𝐬 𝐮𝐩 𝟖𝟎%

It was only a few months back that we reported on Majorel being acquired leading to a spike in price of 40%. Now on 10 July 2023 another...

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SBM is a sharemarket darling, but a Sell with us

Arjan Bartlema

Jun 27, 20231 min read

SBM is a sharemarket darling, but a Sell with us

SBM Offshore is rated a Buy or Strong Buy by many analysts. In the magazine for investors Effect (issue 6 June 2023), SBM Offshore is...

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Arjan Bartlema

Jun 7, 20231 min read

Majorel shoots up 40%

On Wednesday 26 April 2023 after a takeover bid the price of the somewhat unknown Majorel Group Luxembourg S.A. spiked. Just a month...

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𝐈 𝐚𝐬𝐤𝐞𝐝 𝐂𝐡𝐚𝐭𝐆𝐏𝐓 𝐭𝐨 𝐰𝐫𝐢𝐭𝐞 𝐚𝐧 𝐚𝐫𝐭𝐢𝐜𝐥𝐞 𝐚𝐛𝐨𝐮𝐭 𝐠𝐢𝐟𝐟𝐞𝐧 𝐠𝐨𝐨𝐝𝐬

Arjan Bartlema

Jun 7, 20232 min read

𝐈 𝐚𝐬𝐤𝐞𝐝 𝐂𝐡𝐚𝐭𝐆𝐏𝐓 𝐭𝐨 𝐰𝐫𝐢𝐭𝐞 𝐚𝐧 𝐚𝐫𝐭𝐢𝐜𝐥𝐞 𝐚𝐛𝐨𝐮𝐭 𝐠𝐢𝐟𝐟𝐞𝐧 𝐠𝐨𝐨𝐝𝐬

Giffen goods are a peculiar phenomenon in economics where an increase in the price of a good leads to an increase in its quantity...

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Arjan Bartlema

Jun 7, 20231 min read

Momentum is your friend

Our Quant model generates an active return of ~10% p.a. on average, over the medium term. And now Momentum is an additional filter that...

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Build a best of breed company in a dematerialising world (cont)

Arjan Bartlema

Jun 7, 20232 min read

Build a best of breed company in a dematerialising world (cont)

I used the Christmas break to ponder what such a company would be. As this is the follow-up of the last post please see the earlier post...

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Build a best of breed company in a dematerialising world

Arjan Bartlema

Jun 7, 20231 min read

Build a best of breed company in a dematerialising world

First of all, there is no perfect company. Only a company that responds perfectly to its ever changing environment. And boy, is our...

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Arjan Bartlema

Nov 30, 20221 min read

𝐑𝐚𝐧𝐝𝐬𝐭𝐚𝐝 𝐍𝐕 𝐬𝐭𝐚𝐧𝐝 𝐨𝐮𝐭 𝐩𝐞𝐫𝐟𝐨𝐫𝐦𝐞𝐫

Randstad NV has been performing solidly since it has been an Outperform in Sept '22 and was added to our portfolio. It has a fortress...

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Arjan Bartlema

Apr 15, 20221 min read

Creative destruction Squared

We live in a changing world, massively changing. Where business models need to adapt to digital or falter. When Joseph Schumpeter coined...

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Arjan Bartlema

Mar 31, 20221 min read

PEAD-effect - another trap to avoid

In financial economics and accounting research, post–earnings-announcement drift or PEAD (also named the SUE effect) is the tendency for...

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Why Everything That Should Hurt Bitcoin Only Makes It Stronger

Arjan Bartlema

May 25, 20213 min read

Why Everything That Should Hurt Bitcoin Only Makes It Stronger

Bitcoin loves being attacked. Bitcoin especially likes it when something tries to kill it. And it’s also very fond of people trying to...

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Why Bitcoin is the Path to Economic Stability

Tomer Strolight

Apr 14, 20213 min read

Why Bitcoin is the Path to Economic Stability

“Bitcoin is extremely volatile” say the journalists, economists and bankers. Is it though? If you were on a boat that was being tossed...

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Arjan Bartlema

Apr 14, 20211 min read

Bitcoin - digital gold

Bitcoin is growing up. It is therefore more than 10 years old and cannot be ignored. In fact, it can never be removed. It is the new...

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Arjan Bartlema

Apr 14, 20211 min read

Ctac small but cool

Ctac has been an Outperform for some time now. A great Dutch company operating in the IT / cloud sector. A clear growth market with...

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Arjan Bartlema

Apr 14, 20211 min read

Microcaps that are Outperform

At ACM-NL we monitor all Dutch shares. Also called the very small, micro caps. These are usually not mentioned in our research sheets...

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