Malthouse was pleased his players responded to the Richmond challenge, but he also said the emerging talent of the Tigers and their impressive young midfield had beaten the seasoned Magpies in a traditional one-on-one battle during the quarter.
Collingwood had lead by 50 points at half time, only to see the Tigers cut that lead to 26 points by the final change.
"We responded with pride,(but) I think what we do is that we take too much credit away from our opponents," Malthouse said.
''Their maturity is progressing at a rate that I am sure Richmond will be happy with.
"They have had their ups and downs; they have got a very young side that will get better, and when they get their momentum, and when that shifts in particular, they are a very damaging side.''
Despite his disappointment with the third quarter, Malthouse was pleased his team had ''regathered'' itself in the final quarter, kicking nine goals to just two.
''I think our tackle count lifted, it needed to. Clearance rate lifted, which it needed to. Our ability to put more pressure on lifted - these are the things that you need to do and that is a good sign,'' he said.
Despite focusing on the Tigers' comeback, Malthouse found plenty of positives in Collingwood's fourth-straight win for the season.
''We shared the goals again, which I think is pretty good, we kicked a high score, we got momentum back through thought processes,'' he said.
The Magpies will have an extended 10-day break going into the massive Anzac Day clash with an in-form Essendon unit and Malthouse was hopeful ruckman Darren Jolly would return for the clash, but said the dual premiership player wouldn't be risked just because it was the biggest home-and-away match of the season.
''It is only week five, and if he is not right, we are not going to chase that because it is Anzac Day,'' he said.
