Understanding Buffett

If you could travel back in time to 1965 and invest in one single stock or mutual fund, you’d be wise to pick Berkshire Hathaway. Warren Buffett bought Berkshire in May of that year and transformed it from a failing textile company into a supremely successful investment conglomerate. […]

The story of Robeco

Last month Robeco was sold to Orix, a Japanese financial services group, for around €2 billion. The sale of the investment firm which was once regarded as one of the very best in the world will probably make its founding fathers roll over in their graves. Nevertheless, Robeco’s history contains many valuable lessons and may […]

The Glittering Temptress

“What the wise man does in the beginning, the fool does in the end.” – Proverb After a rather depressing year, investors started 2012 in a happy mood, perhaps buoyed by the realization that the world as they knew it had not come to an end, at least not yet. Alas, the party didn’t last. […]

AEX closes at 903

Believe it or not, but last Friday the 31th of August, the AEX closed at 903. Can that really be true? The popular press after all reported 329, a number that probably sounds much more familiar. What is going on? The difference is simple, yet profound. 329 is the level of the AEX price index, […]

Active vs Passive

The view of the AFM Today the Netherlands Authority for the Financial Markets (AFM), which is responsible for supervising the operation of the financial markets in the Netherlands, published a study about active versus passive manage-ment and a guideline called: “Active and passive management in the interest of the client”. Their publications can be found […]

Mid monthly update

We are sending you a mid monthly update as you might be wondering how your Triple Partners investments have been affected by the recent turmoil in the financial markets. At the time of writing, the Core Portfolio is down around six percent since the beginning of August. Slightly less than our benchmark, but since we […]

The past and the present

The phrase ‘Past performance is no guarantee of future results’ is probably the most widely used investment statement around, primarily because many firms are obliged to use it when marketing investment funds to the general public. Even so, we believe true investment wisdom is hidden in those eight words. Unfortunately we investors have a habit […]

The end of kickbacks

“Perverse kickback is history” and articles of similar gist have hit the Dutch popular press in abundance over the past weeks. A result of the statement by Jan Kees de Jager, the Dutch Finance Minister, that he was going to prohibit kickback schemes in the near future. As you can understand, we were amongst those […]

The first year

First of all we wish you a happy 2011! At this time of year investment managers usually look back at what the previous year has brought and make predictions about the performance of stocks, bonds, real estate, and the latest hype – gold – in the year to come. We are not very good at […]

A dying banker’s last wish

We have recently published the second edition of our whitepaper “The Investment Illusion”. We owe thanks to many of you who have given us suggestions and we have continued to look for material and input ourselves to make our story stronger, simpler and shorter. Whilst doing so we came across an excellent book called “The […]

Our investment partners

Here it is: the first Triple Partners investment letter. We will send you one every quarter. In these letters we intend to share some of the lessons we have learned from reading ‘boring’ academic studies and books about investment history. Our challenge will be to make these interesting for you, which we intend to accomplish […]