Portfolio Recovery Associates, Inc. (PRAA)

TMFPlatoish (29.28) Submitted: 8/17/06 11:07 PM : Start Price: $40.86 PRAA Score: -14.27

Like many financial service firms, especially those the deal in specialized areas, this company takes some specific knowledge and obscure computations to thoroughly analyze. Luckily I happen to know a guy who gets his jollies doing just that. If he e...

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TMFMurph (< 20) Submitted: 5/18/06 5:17 PM : Start Price: $45.75 PRAA Score: -20.08

Good tight business model that turns $1 of bad debt into $3 of real money. Don't tend to lower their standards just to get more business. The same trends that will help EPIQ ( higher debt, higher expenses due to the higher mortgage payments and less...

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ctmedic00 (99.94) Submitted: 3/19/07 4:36 PM : Start Price: $42.86 PRAA Score: -3.74

I really like this company especially in the current economy. Consumer debt is at an all time high, the savings rate is zero and the reason it's zero is the market and home ATM. It would appear that both sources of spending are slowing and the hous...

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Killim1 (95.52) Submitted: 11/05/07 5:07 PM : Start Price: $41.50 PRAA Score: 3.31

How many people do you know are credit card or automobile debt free? How many do you think will not be able to pay their debt by the end of 2008 or 2009? I am positive the credit card debt has some linkage to the recent “sub-prime meltdown syndrome...

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TMFCanuck (36.44) Submitted: 5/18/06 1:23 AM : Start Price: $45.60 PRAA Score: -19.89

Best company in the industry. Disciplined, shareholder aligned management. Simply WILL NOT overpay for debt. Conversely, will strike, and strike hard, when opportunity presents itself (witness Q4-05). Demonstrably undervalued

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TMFWBuffettJr (99.70) Submitted: 8/18/06 8:14 PM : Start Price: $40.37 PRAA Score: -7.38

I'm going to make a serious pitch on this one, because this is one of my all time favorite companies, and in this case, I've put my money where my mouth is. One of the biggest signs of a real, quality management to me is when a company refuses to ov...

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gemfinder1 (46.26) Submitted: 3/18/08 9:13 PM : Start Price: $40.62 PRAA Score: -5.24

They are buying massive amounts of cheap debt today. They also have opened a new collection center. Both of these are hurting short term results, but management has always had a great long term shareholder friendly attitude. PRAA around $40 - you ...

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Jeffreyw (84.71) Submitted: 7/12/06 7:49 PM : Start Price: $43.35 PRAA Score: -16.99

PRAA is well positioned to take advantage of increasing bankruptcies from people with interest-only mortgages and negative amortization. You got to pay the piper.

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pytheian (73.15) Submitted: 4/24/08 6:49 PM : Start Price: $40.02 PRAA Score: -0.32

Buying on low Price to Book which is where they mine their money from. Taking on debt, presumably to buy other debt, but still has high interest coverage so I like the aggressive approach. Not especially efficient but keeping up in rev and margins an...

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whitepapers (39.68) Submitted: 8/24/06 3:23 AM : Start Price: $38.99 PRAA Score: -4.46

As of August 23, 2006 the stock has taken an undeserved hit. This has been a high margin business for PRAA and management has done exceptionally well on capital allocation. Although I like PRAA's future, I don't see a deep moat around this business....

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