SARINE TECH: 40% off but is that cheap enough?

I've stumbled upon Sarine before and it is on my watchlist. Personally, I think diamonds as a decorative jewellery are great... for jewellery shops. My innate bias will leave me a bachelor forever. Their business is pretty niche and interesting, with not too many competitors, I would imagine.

As with almost all the companies I invest in, I claim to know no special knowledge in whatever they do. In fact, I gloss over them most of the time. Their numbers are more important to me, and I must say that Sarine has very sexy margins. In fact, it's bordering on disgusting. 70% gross, 30% net? Good on them!

Nice balance sheet, zero debt. What's there to complain about?

Valuations though, that are getting out of hand. Even with a 40% decline in share price, guess what's the EV/EBITDA? 21. No point looking at P/B for a company like this.

T from apenquotes wrote about his views on Sarine, which I thought were very detailed and well done. From a growth investor's point of view, Sarine was a buy for him and he added it to his portfolio. I think it's always good to look at the opposing point of view to help with your own argument. 

However, to me, Sarine is just plainly and simply way overvalued (yes, still) even after considering its fantastic earnings growth in the past. Sure, earnings has doubled over the past 5 years. If history repeats itself, that would bring EV/EBITDA to 10 in 5 years time. I still think that's expensive. 

Herein lies my problem -- I can never be a growth investor. I am always skeptical about a company's growth and its future. My mental hardwiring has been better built and set up for value investing. I'm not saying that one way is better than another, but that is just my style and preference.