bought more tga, page-3

I was just reviewing TGA. I prefer looking at cashflow generated from operations. Five year progression as follows:

Cashflow from Operations
2009 51m
2010 63m
2011 73m
2012 85m
2013 102m

Average rental customer is 2 years lock-in, and low default rates. With increases in business equipment finance, the average lock-in period increases (usually 5 years for businesses), but the default rate may pick up slightly.

Accordingly, I fail to understand sentiments that TGA is not growing. The continual growth in intrinsic value is plain to see.