RE:patienceThis is an interesting dilemma. When the semi sectorw was going down, PHO was following suit. When the secotr started to pick up, PHO also followed suit until management took the air out of hte stock after Q2 earnings. Since Q2, other players in the industry have soared and the semi con sector is stil lstrong. PHO posted strong (record) earnings during this time, and didnt see an uptick, despite management biting their tongues this time around. So the sector is still strong and a vaccine has been developed against COVID....This name is still lagging. I'm not sure about the liquidity issue. if Mawer was patient enough to wait to claim their stake in an under-valued name, I would think others think the same way. Yes, it might take time to build a position, but that doesnt mean you give up on an opportunity for a one/two bagger. Just thinking out loud here. All logic seems to be lost when you consider the quality of this company, its balance sheet, order book and industry outlook. But good company clearly doesnt always = a good stock