A little more negative than my view but very valid points...

A little more negative than my view but very valid points regarding the balance sheet, I would love to be a holder of this company although I need more of a bargain(feel I've missed the boat).
Excellent recent history but very vulnerable to changes in recovery rates, recovery rates don't just get better year in year out forever and I am a little concerned the next time margins contract they will be hit harder than people expect.
I'm more comfortable holding TGA which will benefit from any upside in debt recoveries but be cushioned from the downside by a stronger balance sheet and more diversified business model.