The slowdown in PDL seems smart to me. At least until more of the older debt is recovered (ie, 2011 recovered debt didnt look overly different to a few years ago). But the fact 40% of recovered debt was +4 years is positive. If this continues and we see further reduction in +2010 debt then that will be a positive to me, id like to see a marked reduction in 2010-2012 PDLs and management already said they'll be more prudent in purchasing the 'right' PDLs.
I like how the collection services is going and hope to see further growth, but 20% this year aint too shabby. This division is less risky and a robust Collection Services division will allow the company to ride the PDL wave (ie, the volatility of pricing and returns, thus take up) without big swings in the overall result.
CLH Price at posting:
$1.30 Sentiment: Buy Disclosure: Held
