Capital One Gets Through Hard Part By Philip van Doorn About this article: MCLEAN, Va. (TheStreet) -- Investors considering buying, or dumping, Capital One Financial should take their eyes off the stock market, analysts' reports and pundits' musings, and review the U.S. job market. Capital One had $70 billion in managed credit-card receivables as of Sept. 30, placing the McLean, Va.-based lender fourth among banks after JPMorgan Chase and Bank of America, with $165 billion each, and Citigroup, with $151 billion. The company's annualized ratio of net charge-offs to average loans for the third quarter was 4.53%, and its loan-loss reserves kept up with that pace, covering 4.66% of total loans. With almost half of its assets (on a managed basis, including securitizations) in credit-card receivables, Capital One's prospects are more directly tied to the health of the U.S. consumer than its rivals. Credit-card losses have a tendency to match the unemployment rate, which hit a 26-year high... Or, call us at 1-866-321-TSCM (8726) Monday-Friday, 8 a.m.-6 p.m. ET. Outside the U.S. and in Canada, call 1-212-321-5200. More Stories From RealMoney Durable Goods Up Move Down the Tech Food Chain Jobless Claims Still High Bulls' Tenacity Is the Big Question Mark Should You Buy It? Pharmaceutical Product Development Bad News Trumps All Support for Banks Holds, For Now Bummer, Yields Are on the Rise Money on the Line Makes a Big Difference Structured Products: Unsafe at Any Price MORE STORIES FROM REALMONEY

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