UBS Said Cautious Comments From Washington Mutual (WM) Doesn't Bode Well For Other Credit Card Issuers (COF, AXP)

UBS noted that Washington Mutual (NYSE: WM) had a large increase in credit card non-performers. UBS commented that this is not good for other credit card issuers such as Capital One (NYSE: COF) and American Express (NYSE: AXP). More to come. Capital One is due to announce earnings tomorrow.

Andrew Horowitz from The Disciplined Investor, who has been short Capital One, lately has written some must-read commentary on Capital One's business. Andrew also had a great short call on VMware (NYSE: VMW). On another note, you can view a book Andrew wrote on how he analyzes stocks here. [JT]

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