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    • Wed Apr 16th 16:56 PM
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      Capital One: Outlook Not As Rosy As Analyst Describes
      Andrew Horowitz

      I understand your view but Cap One has made extensive strides in securitizing wrtie off debt throughout their portfolio. The mortguage side wrote off losses of sub prime mortguages aquired in the mergers of 06-07 in the last quater of 07 and they were still in the black. The auto finance readjusted for 08 in their portfolio percentage and reverted back to a marginally sub prime lending (what they are good at doing) which makes money despite a large defualt percentage. Based on the report (April 10) losses have increased marginally across the company, the credit card default seems rather flat now that the UK card has been revised (inflated numbers of 07 cc default), and desptie the normal shakeup a company has when a CEO quits/retires (one of the reasons for the stock drop stock) everything seems on the up and up.
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    • Tue Apr 15th 18:57 PM
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      Capital One: Outlook Not As Rosy As Analyst Describes
      with improved creditcard modeling/adjustment and recent bankrupcy law revision I dont see a true trend like the above author speculates. I find the author a bit short sighted by failing to incorporate the potfolio write off of the subprime mortguages Capital One picked up in the aquisition of First National's portfolio in his numbers. If anything now is the time we will see a larger profit on the credit card market from the lower cost of borrowing and staggering credit environment.
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