Latest Moelis report, page-16

because his risk profile is a little bit different than many AJX investors. He needs confirmation of revenue growth over a few years (at least). So even though AJX will come onto his radar either this yearly report (or much more likely the half yearly next year), he may not invest until quite a few years down the track.

He just is not interested in companies that have not a proven successful model.

I also know a fellow investor who only invests in companies that have at least four years of profits. Good chance he won't hear about AJX until 2020.

But that is how AJX's SP will increase over the next five years. Investors will come to discover AJX at different times ...