Overzicht columns

Hayo Heerink: An octopus in the media spotlight

Wed, 09 Sep 2026 10:02:38 +0200

_{This column was originally written in Dutch. This is an English translation.}

People want to predict the future. During the 2010 World Cup, that desire for certainty led to a remarkable source of ‘insight’: Paul the octopus, who correctly predicted the outcome of eight matches in a row. It was a period in history when a mollusc was trusted more than many an analyst.

By Hayo Heerink, former investment strategist at pension funds

Pim Rank: Basic current account for entrepreneurs – out of the frying pan into the fire?

Wed, 09 Sep 2026 06:01:55 +0200

_{This column was originally written in Dutch. This is an English translation.}

The Cash Payments Act of 20 May 2026 introduces a statutory right to a basic payment account for business entities. The question is whether this will genuinely benefit these business entities and whether it will unduly restrict the banks’ freedom of contract.

By Prof. Mr Pim Rank, Lawyer at NautaDutilh in Amsterdam and Professor of Financial Law at Leiden University

Harry Geels: What the rise of big business means for prosperity

Wed, 09 Sep 2026 08:54:09 +0200

_{This column was originally written in Dutch. This is an English translation.}

By Harry Geels

The rise of ever-larger companies is neither a coincidence nor a conspiracy, but the result of five forces that are making scale increasingly important. What does that mean for society?

Bob Homan: When share prices lose their focus

Tue, 08 Sep 2026 10:56:42 +0200

_{This column was originally written in Dutch. This is an English translation.}

By Bob Homan, Head of the ING Investment Office

Which is better: a stock market driven by a handful of winners, or one in which almost everything is rising? The answer is less obvious than many investors think.

Gerd-Jan van Wiggen: The clause that only comes into play when things go wrong

Tue, 08 Sep 2026 10:49:39 +0200

_{This column was originally written in Dutch. This is an English translation.}

By Gerd-Jan van Wiggen, Partner at Probability & Partners

As a consultant and investor, I have studied thousands of external disclosures from banks over the past 25 years. During that period, we have seen a major financial crisis, as well as significant changes in legislation and regulation. As a result, I have developed an instinct for the way in which matters are phrased.

Marc van Voorst tot Voorst: Europe cannot afford a capital shortfall in biotech and the life sciences

Mon, 07 Sep 2026 12:42:09 +0200

_{This column was originally written in Dutch. This is an English translation.}

Europe boasts world-class scientific research. Yet we are not doing enough to translate that knowledge into successful start-ups, scale-ups and new treatments for patients.

By Marc van Voorst tot Voorst, Head of Public Affairs at Forbion

Han Dieperink: How many shares do you actually need?

Fri, 04 Sep 2026 06:03:20 +0200

^{This column was originally written in Dutch. This is an English translation}

Ask an asset manager how many shares should be in a portfolio and the answer is almost always the same: it depends on your age and your risk profile. But is that really true?

By Han Dieperink, writing in a personal capacity

Copy_Harry Geels: A new, fair and simple tax system

Wed, 02 Sep 2026 08:58:40 +0200

_{This column was originally written in Dutch. This is an English translation.}

By Harry Geels

There is currently much debate about reforming the tax system. On the one hand, because it has become too complex; on the other, because the government wants to collect more tax. I propose an alternative system that scores considerably better on the so-called ‘canons of taxation’, the classic principles of sound taxation.

Frans Verhaar: There’s a whole world hidden behind the letters ‘ABF’

Tue, 01 Sep 2026 09:10:20 +0200

_{This column was originally written in Dutch. This is an English translation.}

By Frans Verhaar, Managing Director, Head of Continental Europe at bfinance

Sometimes, a collective term reveals just how little we actually know about something. Take Asset-Backed Finance (ABF). The term is cropping up more and more frequently in discussions with institutional investors, in market reports and at conferences. But anyone who thinks that ABF is an asset class like shares, property or even private debt will soon discover that behind those three letters lies a surprisingly multifaceted universe.

Han Dieperink: Interest rate hysteria

Tue, 01 Sep 2026 16:57:58 +0200

_{This column was originally written in Dutch. This is an English translation.}

By Han Dieperink, writing in a personal capacity

Long-term interest rates are rising, and this is rekindling old fears. In the United States, the yield on 30-year government bonds has risen above 5 per cent, the highest level since 2001.

IVBN: Why capital is not invested automatically

Fri, 28 Aug 2026 06:01:11 +0200

^{This column was originally written in Dutch. This is an English translation.}

Even when capital is available, it does not automatically lead to new projects. For that to happen, the conditions must be right and the risks must be manageable.

By Judith Norbart, Director, IVBN

Gerd-Jan van Wiggen: How do you break a bank?

Thu, 27 Aug 2026 08:16:09 +0200

By Gerd-Jan van Wiggen, Partner at Probability & Partners

After the holiday period, it is always nice to come home knowing that a number of interesting publications have been released. One of these is the ECB paper setting out the results of the reverse stress test, which was published on 31 July.

Harry Geels: Higher interest rates are the new normal

Thu, 27 Aug 2026 08:11:08 +0200

_{This column was originally written in Dutch. This is an English translation.}

By Harry Geels

After years of living in a world of free money, historically low interest rates appear to be a thing of the past. Many analysts see this as a threat to the financial markets. But higher interest rates can also be seen as a return to normality.

Anton Kramer: Explaining is not the same as assessing

Tue, 25 Aug 2026 10:05:42 +0200

_{This column was originally written in Dutch. This is an English translation.}

By Anton Kramer, Co-Founder of OverRendement

The ink had barely dried on Minister Vijlbrief’s (Social Affairs and Employment) letter to the House of Representatives regarding pension funds’ investment returns when the next publication appeared: the OECD’s provisional pension figures.

Danny Dieleman: Money for nothing and risks for free?

Tue, 25 Aug 2026 09:03:11 +0200

_{This column was originally written in Dutch. This is an English translation.}

By Danny Dieleman, Founder of D-Squared Capital

Since this spring, various regulators have been taking a closer look at private markets. In May 2026, the ECB devoted particular attention to private credit in its Financial Stability Review. Less than a month later, Bloomberg reported that the ECB had requested additional data from 20 European banks regarding their exposure to private credit. That same month, the Bank of England (BoE) announced the Private Markets System-Wide Exploratory Scenario (PM SWES). De Nederlandse Bank (DNB) also recently published its report ‘Private assets and financial stability: the role of Dutch insurers and pension funds’.

Wim Zwanenburg: The HALO strategy in the age of AI disruption

Fri, 21 Aug 2026 06:03:42 +0200

^{This column was originally written in Dutch. This is an English translation}

Wall Street introduced a new acronym this year: HALO (Heavy Assets, Low Obsolescence). Are the shares of companies with tangible assets and a low risk of technological obsolescence safe havens for investors?

By Wim Zwanenburg, investment strategist at Stroeve Lemberger, written in a personal capacity

Harry Geels: Many conventional wisdoms about housing do not always hold true

Wed, 19 Aug 2026 08:32:26 +0200

_{This column was originally written in Dutch. This is an English translation.}

By Harry Geels

‘Renting is unwise.’ ‘Owning your own home is the best investment.’ ‘House prices always rise.’ ‘As you get older, you downsize.’ Very little of the familiar clichés about housing is actually true. But why, then, do they persist so stubbornly?

Han Dieperink: Emerging markets call for selectivity

Wed, 19 Aug 2026 08:28:19 +0200

_{This column was originally written in Dutch. This is an English translation.}

By Han Dieperink, written in a personal capacity

For the first time in years, emerging markets have been outperforming the developed world since 2025. This followed a long period of underperformance. Growth in China slowed, commodities were cheap, and large amounts of investment capital flowed into the United States.

Felix Zwart: Investing without control over the destination

Tue, 18 Aug 2026 09:13:36 +0200

_{This column was originally written in Dutch. This is an English translation.}

By Felix Zwart, Director of Research at the Dutch Association of Private Equity Firms (NVP)

Private equity requires patience, but social norms are changing rapidly. As an investor, how do you maintain control over funds that were set up in a world that no longer exists?

Joeri de Wilde: Europe doesn’t need a Silicon Valley

Tue, 11 Aug 2026 08:01:48 +0200

_{This column was originally written in Dutch. This is an English translation.}

Europe’s obsession with US productivity figures is leading us down the wrong path. Europe should not try to imitate the US, but should learn to make better use of its own strengths.

By Joeri de Wilde, Senior Economist at Triodos Investment Management

Harry Geels: Views of financial economists are missing from the inequality debate

Tue, 11 Aug 2026 09:57:07 +0200

_{This column was originally written in Dutch. This is an English translation.}

By Harry Geels

The public debate on inequality and taxation is heavily dominated by a macroeconomic way of thinking, whilst insights from financial economics are conspicuously absent. Among other things, the ‘risk premium’ is conspicuously absent from the debate.

Harry Geels: The paradox of the degrowth banker

Wed, 05 Aug 2026 08:32:57 +0200

_{This column was originally written in Dutch. This is an English translation.}

Commercial banks rely heavily on lending for their profitability. Degrowth, on the other hand, calls into question the need for continuous economic growth. Can the world of degrowth really be reconciled with the banking system?

By Harry Geels

Han Dieperink: The returns of cheap AI

Wed, 05 Aug 2026 08:30:56 +0200

_{This column was originally written in Dutch. This is an English translation.}

By Han Dieperink, written in a personal capacity

When the Chinese AI model Kimi K3 was released in mid-July, semiconductor stocks reacted as they increasingly have in recent months: they fell. The logic was straightforward: if artificial intelligence becomes ever cheaper, less computing power will be required, and therefore fewer chips will be needed. Yet that conclusion is mistaken.

EDHEC: Evergreen, the tree that never sheds

Tue, 04 Aug 2026 09:21:16 +0200

By Evan Clark, Senior Private Market Analyst, EDHEC Infrastructure & Private Assets Research Institute

Evergreen private equity funds have grown rapidly in recent years, targeting wealth, retail, and increasingly, defined contribution (DC) pension plans. These vehicles promise access, convenience, and periodic liquidity, but closer analysis reveals structural features that pose material risks for investors.

Gerd-Jan van Wiggen & Laurent Claassen: Building resilience to geopolitical risks

Wed, 09 Sep 2026 14:05:36 +0200

_{This column was originally written in Dutch. This is an English translation.}

By Gerd-Jan van Wiggen, Partner at Probability & Partners, and Laurent Claassen, Senior Advisor to Boards & Executives | Lecturer & Speaker

The world order is in flux. US dominance is being challenged by China, and President Trump’s second term is creating further uncertainties in the areas of international trade, economic stability and geopolitical alliances.