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Games Workshop: The most profitable hobby in the world
191% ROCE. Zero debt. £617m revenue. And an Amazon Prime series with Henry Cavill in development. Here is the full Games Workshop deep dive.
Apr 2
•
Ruben van Putten
1
March 2026
Nu Holdings: The Purple Card and the $74 Billion Machine
131M customers. $2.87B net income. 19.9% efficiency ratio. And a US banking licence just approved. Here is the full NuBank deep dive.
Mar 26
•
Ruben van Putten
1
The priming trap: Why the first number you see costs you money
Why the first number you see in negotiations destroys valuation discipline. Research-backed insights on anchoring bias and three practical tactics to…
Mar 25
•
Ruben van Putten
Basic Fit: Europe’s largest gym sells intentions, not workouts
The low-cost fitness giant just turned the corner on free cash flow, acquired Europe’s largest franchise gym network, and is pivoting from aggressive…
Mar 19
•
Ruben van Putten
1
1
GigaCloud Technology: The cheapest quality business you passed because of its passport
GigaCloud trades at 10x earnings with $417M cash and zero debt. Is the China-founder discount warranted or is this the most mispriced small-cap on the…
Mar 12
•
Ruben van Putten
1
Why founders sell for half what their business is worth
The psychological patterns that make founders sell quality businesses below market value. A behavioral framework for growth investors.
Mar 10
•
Ruben van Putten
1
Kelly Partners Group: Good Business, Dangerous Narrative
Ticker: ASX: KPG Current Price: Around AUD $6.00 (as at March 2026) All-Time High: AUD $13.60 (February 2025) Analyst Consensus Target: AUD $4.70-4.90…
Mar 5
•
Ruben van Putten
8
3
February 2026
Klarna: The $14 Stock That Can’t Decide If It’s a Bank
Is Klarna a bank, a BNPL lender, or a payments network? The answer determines whether $14 is cheap or fair. We ran the numbers.
Feb 26
•
Ruben van Putten
3
Why smart buyers overpay
Discover why smart buyers overpay in M&A deals and how negotiation psychology reveals better strategies to secure lasting value.
Feb 18
•
Ruben van Putten
Four quality companies at record-low valuations
The market is handing investors a gift right now.
Feb 17
•
Ruben van Putten
Why smart VCs make predictably bad decisions
The venture capital industry prides itself on rigorous analysis and data-driven decision making.
Feb 12
•
Ruben van Putten
1
2
The AI quality divide: Why most AI startups will fail the behavioral test
Bessemer's AI report reveals a startling divide: explosive-growth AI startups hit $125M revenue but operate at just 25% margins, while quality-focused…
Feb 10
•
Ruben van Putten
1
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