ASM International: Upgrade To Strong Buy On Better Growth Visibility And Strength

Group 1 - The article emphasizes a fundamentals-based approach to value investing, focusing on companies with long-term durability and robust balance sheets rather than merely low multiples [1] - It highlights the misconception that low multiple stocks are inherently cheap, advocating for a focus on steady long-term growth and minimal cyclicality [1] - The author acknowledges the risks associated with investing in successful companies, particularly the potential to overpay, while also noting that in certain situations, the growth potential can outweigh immediate price concerns [1]