CEO / Founder, Crea8

Kim-Hwa Lim

CEO / Founder

Make an Impact

Crea8

Crea8 blends AI-driven precision, big data scalability, and rigorous quantitative frameworks with seasoned human insight. By extracting actionable intelligence from vast global datasets, we eliminate emotional bias and deliver optimal risk-adjusted returns. Our hybrid approach uncovers hidden market efficiencies and ensures your capital is dynamically positioned across markets.

Cross Asset Strategy

<ul><li>The strategy seeks to invest in global companies with sustainable competitive advantages.</li><li>By adopting a portfolio of stocks instead of individual stocks, the strategy is diversified across countries and industries; and optimised with respect to their expected risks and returns.</li><li>Previous portfolio returned -8.3% vs. MSCI World (-1.3%) – underperformed the benchmark by -7%.</li></ul>

The strategy seeks to invest in global companies with sustainable competitive advantages.By adopting a portfolio of stocks instead of individual stocks, the strategy is diversified across countries and industries; and optimised with respect to their expected risks and returns.Previous portfolio returned -8.3% vs. MSCI World (-1.3%) – underperformed the benchmark by -7%.

Global Competitive Barrier Portfolio (14-Sep-2026)

Equity Long-Short

Mo Aziz

Equity Bottom-Up

BE Semiconductor Industries NV / Equity Bottom-Up

<ul>
<li>Besi's order book has grown above 100% YoY for three straight quarters (Q4-25, Q1-26, Q2-26) — a genuine, accelerating hybrid-bonding franchise, not a one-off print.</li>
<li>Today's in-line Q2-26 beat still triggered a ~3.75% share-price decline: Q3-26 guidance signals decelerating revenue growth and compressing margins, confirming the market's own ceiling.</li>
<li>We initiate with a <strong>BEARISH stance, TP €205</strong> (-10.8% downside): 50x forward P/E — two standard deviations above BESI's 10-year average multiple.</li>
</ul>


Besi's order book has grown above 100% YoY for three straight quarters (Q4-25, Q1-26, Q2-26) — a genuine, accelerating hybrid-bonding franchise, not a one-off print.
Today's in-line Q2-26 beat still triggered a ~3.75% share-price decline: Q3-26 guidance signals decelerating revenue growth and compressing margins, confirming the market's own ceiling.
We initiate with a BEARISH stance, TP €205 (-10.8% downside): 50x forward P/E — two standard deviations above BESI's 10-year average multiple.


BE Semiconductor Industries (BESI NA): Great Business, but Wrong Multiple

Equity Long-Short, Semiconductors, Fabricated Knowledge

Douglas O'Laughlin

Equity Long-Short, Semiconductors

Fabricated Knowledge

Learn more about the world's most important manufactured product. Meaningful insight, timely analysis, and an occasional investment idea.

Thematic (Sector/Industry)

<ul><li>Welcome to the Halloween Earnings Edition. It's a spooky time in markets.</li><li>So far, there’s been a lot of volatility this earnings season, specifically around the Magnificent 7. Let’s discuss.</li><li>I won’t discuss each company specifically, but I will focus on the high-level capex commentary.</li></ul>

Welcome to the Halloween Earnings Edition. It's a spooky time in markets.So far, there’s been a lot of volatility this earnings season, specifically around the Magnificent 7. Let’s discuss.I won’t discuss each company specifically, but I will focus on the high-level capex commentary.

Halloween Earnings Season 🎃 (Hyperscalers, TXN, VICR, SK Hynix, KLAC, MXL, INTC, AWE, ACMR, BESI)

Global TMT Analyst, Ex-PM, 30 years experience

Neil Campling

Event-Driven

<ul>
<li>The second PE rumoured interest in ASMPT in 18 months, with KKR circling.</li>
<li>Semiconductor M&amp;A has surged in 2024 YTD with a 33% increase in deal activity compared to 2023.</li>
<li>ASM's leadership in TCB, potential growth within HBM, expansion at TSM and enabling the Nvidia Blackwell platform are all reasons for M&amp;A interest.</li>
</ul>


The second PE rumoured interest in ASMPT in 18 months, with KKR circling.
Semiconductor M&amp;A has surged in 2024 YTD with a 33% increase in deal activity compared to 2023.
ASM's leadership in TCB, potential growth within HBM, expansion at TSM and enabling the Nvidia Blackwell platform are all reasons for M&amp;A interest.


ASMPT (ASM Pacific). 522 HK. M&A. Takeover Target Talk. Déjà Vu ?

Independent Investment Research, The IDEA!

The IDEA!

Independent Investment Research

The Idea-Driven Equities Analyses company (the IDEA!) is an employee-owned boutique providing independent investment research and financial consultancy services with a clear focus on the Benelux countries. The company was founded in the summer of 2007 by Henk Slotboom and Maarten Verbeek, both with more than 35 years of professional experience in the financial sector. The IDEA! differentiates itself by focusing on adding value through self-initiated in-depth, idea-driven investment research, as well as by bespoke research assignments for institutional investors, hedge funds and private equity. In addition, we provide market intelligence, strategic research and – together with our business partners – consultancy services to businesses. In case you are interested in receiving more information, a sample of our products or an introductory meeting, please send a message to info@theidea.nl.

<ul><li>In this edition: • BE Semiconductor Industries | increases long-term financial targets • AMG Critical Materials | opens chrome metal facility in the US</li></ul>

In this edition: • BE Semiconductor Industries | increases long-term financial targets • AMG Critical Materials | opens chrome metal facility in the US

What's New(s) in Amsterdam - 18 June (BE Semiconductor Industries | AMG Critical Materials)

Netherlands

BE Semiconductor Industries N.V. produces integrated semiconductor assembly equipment.  The Company designs, develops, manufactures, markets, and services machines that manufacture semiconductor packages, which provide the connection between the chip and other electronic components and protect the chip.  BE also produces automated molding and plating machines, and manufactures leadframes.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

BE Semiconductor Industries NV (BESI NA)

Global Competitive Barrier Portfolio (14-Sep-2026)

The strategy seeks to invest in global companies with sustainable competitive advantages. By adopting a portfolio of stocks instead of individual...

Crea8

BE Semiconductor Industries (BESI NA): Great Business, but Wrong Multiple

Besi's hybrid-bonding growth is real, but the stock prices it twice over. BEARISH, TP €205 (-14%): a 58x multiple against a 50x statistically...

Mo Aziz

Halloween Earnings Season 🎃 (Hyperscalers, TXN, VICR, SK Hynix, KLAC, MXL, INTC, AWE, ACMR, BESI)

Welcome to the Halloween Earnings Edition. It's a spooky time in markets. So far, there’s been a lot of volatility this earnings season,...

Fabricated Knowledge

ASMPT (ASM Pacific). 522 HK. M&A. Takeover Target Talk. Déjà Vu ?

Private equity interest in ASMPT has surged due to its leadership in TCB, potential growth in HBM, expansion at TSM, and enabling the Nvidia...

Neil Campling

What's New(s) in Amsterdam - 18 June (BE Semiconductor Industries | AMG Critical Materials)

In this edition: • BE Semiconductor Industries | increases long-term financial targets • AMG Critical Materials | opens chrome metal facility in...

The IDEA!

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Global Competitive Barrier Portfolio (14-Sep-2026)

The strategy seeks to invest in global companies with sustainable competitive advantages. By adopting a portfolio of stocks instead of individual...

Crea8

BE Semiconductor Industries (BESI NA): Great Business, but Wrong Multiple

Besi's hybrid-bonding growth is real, but the stock prices it twice over. BEARISH, TP €205 (-14%): a 58x multiple against a 50x statistically...

Mo Aziz

Halloween Earnings Season 🎃 (Hyperscalers, TXN, VICR, SK Hynix, KLAC, MXL, INTC, AWE, ACMR, BESI)

Welcome to the Halloween Earnings Edition. It's a spooky time in markets. So far, there’s been a lot of volatility this earnings season,...

Fabricated Knowledge

ASMPT (ASM Pacific). 522 HK. M&A. Takeover Target Talk. Déjà Vu ?

​Private equity interest in ASMPT has surged due to its leadership in TCB, potential growth in HBM, expansion at TSM, and enabling the Nvidia...

Neil Campling

What's New(s) in Amsterdam - 18 June (BE Semiconductor Industries | AMG Critical Materials)

In this edition: • BE Semiconductor Industries | increases long-term financial targets • AMG Critical Materials | opens chrome metal facility in...

The IDEA!

Private equity interest in ASMPT has surged due to its leadership in TCB, potential growth in HBM, expansion at TSM, and enabling the Nvidia...