About Qapital

Hi, I'm Ruben van Putten, and I started Qapital to share how I actually identify quality businesses by analyzing the behavioral patterns that create competitive advantage before they show up in financial statements.

I combine institutional-quality financial analysis with 25+ years of deploying capital across public and private markets. But here's what makes this different: I focus on what traditional analysis systematically misses. The decision patterns, organizational behaviors, and cognitive dynamics that separate exceptional businesses from good financials.

Qapital focuses on one thing: identifying businesses that trade below their quality using behavioral pattern recognition. I believe it's better to own a few exceptional companies with sustainable advantages than diversify into mediocrity.

Our Investment Approach: The QAPITAL Framework

We evaluate every company through seven quality dimensions, with context-dependent emphasis based on each specific situation:

Q - Quality of business economics
A - Allocation excellence and capital returns
P - Predictability through resilient systems
I - Intrinsic competitive advantages
T - Team and organizational effectiveness
A - Alignment of incentives
L - Long-term value creation focus

What makes this different: We don't use fixed weightings. Instead, each analysis identifies which 2-3 elements matter most for that specific company and why, supported by academic research on competitive advantage and quality factor importance.

The behavioral lens: Traditional analysis focuses on outcomes (revenue, margins, ROIC). We analyze the decision patterns and organizational behaviors that create those outcomes. This reveals quality advantages before they appear in financials, and quality deterioration before it shows in the numbers.

What you'll get

Weekly insights on building business value (Strategy) and pricing discipline (Valuation) through a behavioral lens. Bi-weekly deep analyses applying the QAPITAL framework to actual companies we're evaluating for our portfolio. We also offer frameworks, toolkits, and custom company assessments.

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