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☆ Here are the 10 stocks we consider our core holdings in the Club portfolio — and why
▼ + stars: | 2022-11-17 | by ( Jeff Marks | ) www.cnbc.com time to read: +12 min

At the Investing Club, we generally try to keep our portfolio to around 30 stocks, give or take a few. In light of Thursday's "Monthly Meeting," we wanted to identify what we consider our 10 core holdings of the 32. We may consider a stock a core holding today but that could change three months from now. Management sees its post-separation core business growing revenues at a high single-digit clip and earnings-per-share increasing in the double digits. The stock provides a stellar dividend yield of nearly 3.5%, and the bank has plenty of excess capital to repurchase stock quarter after quarter, while other banks have paused their buybacks.

Despite Republican hopes for a "red wave" of support in the Nov. 8 elections, they failed to reverse Democrats' razor-thin Senate majority. They appear to be on course to win a narrow House majority, having won 217 of the 218 seats they would need, with 10 still uncalled. McConnell and Scott both addressed the gathering, which included newly elected Trump-backed Senate Republicans, including J.D. [1/5] U.S. Senate Republican leader Mitch McConnell walks to his office at the U.S. Capitol building in Washington, U.S., November 15, 2022. While Senate Republicans met in the morning to vote for party leaders, House Republicans were due later in the day to consider chamber rules for the next Congress, assuming they succeed in capturing the House.

In the 13 races in six battleground states where an election denier was on the ballot for governor, secretary of state or attorney general, 12 lost, according to the latest NBC News projections. Arizona — along with Michigan and Alabama — was one of three states where election deniers advanced to be the GOP nominees for governor, secretary of state and attorney general. In Pennsylvania, meanwhile, Republican Doug Mastriano — who was one of the most high-profile election deniers — lost the race for governor to Democrat Josh Shapiro. “But voters sent a very clear message that Americans deeply care about democracy and don’t want extremists running our nation’s elections.”The defeats of election deniers spanned well beyond swing states. All 14 races where election deniers won were in states that voted to elect Trump in both 2016 and 2020.

Speaking to reporters this week, Brown reaffirmed that he intends to seek a fourth term. Jai Chabria, Vance’s chief campaign strategist, said he expects the “floodgates to open” with candidates eager to take on Brown. Dolan’s pitch to county chairs this week leaned into frustrations that Republicans have vented toward Trump after disappointing midterm results. For Brown, this year’s midterm elections in Ohio have yielded a more unpleasant set of questions than the last. “He is a different beast than Tim Ryan, because Tim Ryan was a Xerox of a Xerox of Sherrod Brown,” Chabria said.

☆ Some CFOs Are Boosting Their Credit Lines as Insurance Against Recession
▼ + stars: | 2022-11-16 | by ( Kristin Broughton | Nina Trentmann | ) www.wsj.com time to read: +7 min

In addition to recession-planning, some companies are expanding their credit lines in response to higher input and inventory costs, corporate bankers said. Term loans are also funded at the outset, unlike credit lines. Photo: Xcel EnergyThe company increased its revolving credit lines primarily because it is expanding and also confronting higher commodity costs, Mr. Johnson said. Xcel doesn’t typically allow its commercial-paper balances to exceed 40% of its total borrowing capacity under its revolving credit lines, Mr. Johnson said. Bombardier in the third quarter closed on a new $300 million, five-year revolving credit facility.

Donald Trump announced on Tuesday that he's running for president again in 2024. Trump's 2024 campaign comes as he faces escalating federal and state criminal investigations. Trump cast himself as the lone panacea to a long list of ills on a "quest to save our country." Supporters wait for the arrival of former President Donald Trump during an event at his Mar-a-Lago resort on November 15, 2022 in Palm Beach, Florida. Grover Cleveland, of the National Democratic Party, was the only president to serve two non-consecutive terms in the White House.

☆ Drive Capital's Mark Kvamme is raising a fund that's like a sovereign wealth fund for Ohio, one month after stepping down from the $2.2 billion venture-capital firm he cofounded
▼ + stars: | 2022-11-16 | by ( Melia Russell | ) www.businessinsider.com time to read: +4 min

In October, Mark Kvamme said he was stepping down at Drive Capital, the venture firm he founded. The so-called Ohio Fund will raise money mostly from Ohio institutional investors, sources said. The new fund — whose working title is "Ohio Fund" — has drawn comparisons to a sovereign wealth fund, because Kvamme plans to raise capital from mostly Ohio institutions. Unlike the venture firm he founded, the Ohio Fund will invest in multiple asset classes, including other funds, public stocks, private companies in Ohio, and infrastructure, sources said. He stayed one year before striking out on his own with ambitions to start a venture firm.

“Personalities come and go,” said Dave Ball, the GOP chair in Pennsylvania’s Washington County, who has supported and defended Trump. Trump is preparing to do just that, with a Tuesday announcement expected at his Mar-a-Lago resort in Florida. In Illinois, Republicans had threatened to take two state Supreme Court seats and flip state Senate and House seats. In Pennsylvania, GOP leaders had hoped to at least hold on to the seat being vacated by retiring Sen. Pat Toomey. Trump lost the state by narrow margins in 2016 and 2020.

☆ Walker's campaign tells Republicans to stop 'deceptive fundraising' in Georgia runoff
▼ + stars: | 2022-11-15 | by ( Marc Caputo | Marc Caputo Is A Senior National Political Reporter For Nbc News. | ) www.nbcnews.com time to read: +5 min

Walker’s campaign, which has trailed Warnock’s in fundraising throughout the election, is now asking fellow Republicans to stop their fundraising practices — or at least start sharing more with the candidate. "We need everyone focused on winning the Georgia Senate race, and deceptive fundraising tactics by teams that just won their races are siphoning money away from Georgia,” Walker campaign manager Scott Paradise told NBC News on Monday. After the 90:10 split was highlighted on Twitter, Trump’s committee changed the allocation to a 50:50 split. A Vance spokesman declined to comment, but subsequent fundraising emails for Walker have defaulted to a 50:50 split as well. Those new donors' emails and their money are then shared along with the cash raised in the joint fundraising endeavor.

☆ Rick Scott launches his Trump-backed challenge of Mitch McConnell to become Senate GOP leader
▼ + stars: | 2022-11-15 | by ( Brent D. Griffiths | Warren Rojas | ) www.businessinsider.com time to read: +5 min

Sen. Rick Scott is challenging Mitch McConnell to become the top Senate Republican. Scott's challenge comes as former President Donald Trump and some Senate Republicans blame McConnell for a lackluster midterm election. As Politico broke the news of Scott's challenge, McConnell's allies lashed out. As the leader of Senate Republicans' campaign arm, Scott played a key role in shaping his party's strategy. Unlike McConnell, Scott did not want the GOP to aggressively intervene in contested primaries, which led to Trump-backed challengers like Dr. Mehmet Oz and Don Bolduc emerging in key races in Pennsylvania and New Hampshire, respectively.

☆ As Trump readies possible 2024 White House run, GOP megadonors back DeSantis, Youngkin, other Republicans
▼ + stars: | 2022-11-15 | by ( Brian Schwartz | ) www.cnbc.com time to read: +7 min

Sabin contributed $55,000 this year to a pro-DeSantis PAC, Friends of Ron DeSantis, which supported the Florida governor's successful bid for reelection, according to state campaign finance records. Trump, meanwhile, has scheduled a primetime announcement Tuesday night, heavily hinting that it will be his presidential campaign launch. Trump also endorsed dozens of winning House candidates, but many of those Republicans were in firmly red districts without a serious competitor. Ross hosted a fundraiser for Trump at his Hamptons home in 2019 to raise money for Trump's campaign and the Republican National Committee. While Levine didn't personally donate to Trump's races, he helped raise campaign cash for several other candidates Trump endorsed in the last cycle.

Companies Trump Organization Inc FollowNEW YORK, Nov 15 (Reuters) - Allen Weisselberg, a longtime senior executive at former U.S. President Donald Trump's family business, took the stand on Tuesday as the prosecution's star witness at the Trump Organization's tax fraud trial in New York state court. Weisselberg, 75, pleaded guilty in August to avoiding taxes on $1.76 million in personal income and helping Trump's real estate company engineer the tax fraud scheme. During questioning by prosecutor Susan Hoffinger on Tuesday, Weisselberg said he began working as an accountant for Trump's father, the real estate developer Fred Trump, in 1973. Weisselberg said the Trump Organization's business portfolio grew more diversified since he began working there, branching out into hotels, golf courses and commercial properties. Weisselberg is the third witness to take the stand in the trial, which began with jury selection on Oct. 24.

☆ J.D. Vance — who Trump once joked was 'kissing my ass' — comes to his defense as GOP points fingers for their disappointing midterm results
▼ + stars: | 2022-11-14 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +3 min

Vance has come to the defense of former President Donald Trump. Vance, the Republican senator-elect from Ohio, defended Donald Trump for the GOP party's losses in the 2022 midterm elections as critics place the blame largely on the former president. Vance was one of the many Republican candidates endorsed by Trump, who also quipped that Vance was "kissing my ass" for support. Vance declared that the Republican Party "more than ever" needs Trump who is expected to launch a 2024 presidential run on Tuesday. "Our party has one major asset, contra conventional wisdom, to rally these voters: President Donald Trump," the senator-elect said.

☆ Josh Hawley proclaims the 'old' GOP is dead after a disappointing midterms for Republicans: 'Time to bury it'
▼ + stars: | 2022-11-14 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +3 min

Sen. Josh Hawley thinks the "old" GOP is dead. Build something new," Hawley tweeted on Saturday. "The old party is dead. The old party is dead. Hawley is, per Politico, in the process of forging his own path in the Senate with other Trump Republicans.

Now Kent, a former Green Beret who criticized Beutler for her impeachment vote and who has shared conspiracy theories about voting, will lose to businesswoman Marie Gluesenkamp Perez, a Democrat. "If Beutler had been the Republican nominee, she'd have won with 60% of the vote by now," said Chris Vance, the former chairman of the Washington State Republican Party, in an interview before NBC News projected the race. GOP primaries, Vance said, are no longer electing the best candidates because the base is more interested in ties to Trump. "If you're a Republican elected official, you've got to keep your head down," said Vance, who left the party after Trump's election. Gluesenkamp Perez avoided talking about party politics while emphasizing her rural background and her family's long ties to Washington state.

Hassan did betterthan Biden democrats have won control Arizona › Mark Kelly (D) wins D+5.7 D+0.3 +5.4 pts. Kelly did betterthan Biden democrats have won control Pennsylvania › John Fetterman (D) wins D+4.4 D+1.2 +3.2 pts. Warnock did betterthan Biden democrats have won control Nevada › Catherine Cortez Masto (D) wins D+0.7 D+2.4 +1.7 pts. Welch did betterthan Biden democrats have won control Maryland › Chris Van Hollen (D) wins D+26.4 D+33.4 +7.0 pts. Rep. Van Hollen did worsethan Biden democrats have won control Connecticut › Richard Blumenthal (D) wins D+14.9 D+20.1 +5.2 pts.

☆ Peter Thiel's picks Masters, Vance split key Senate races in Arizona, Ohio after billionaire spent $32 million on 2022 midterms
▼ + stars: | 2022-11-12 | by ( Brian Schwartz | ) www.cnbc.com time to read: +3 min

Peter Thiel, president and founder of Clarium Capital Management LLC, speaks during the Bitcoin 2022 conference in Miami, Florida, on Thursday, April 7, 2022. Billionaire and Republican megadonor Peter Thiel's $32 million investment in the 2022 midterm elections saw mixed results, as two of his former employees split U.S. Senate races that will help to decide control of the chamber. Thiel instead opted to pile more money into Republican Blake Masters' bid to unseat Democratic Sen. Mark Kelly in Arizona. Thiel jolted Masters' Senate bid early on with a $15 million donation to a pro-Masters super PAC during Arizona's primary election, according to Federal Election Commission records. Records show that Thiel contributed similar amounts to Republican Reps. Mike McCaul, Chris Stewart, Michael Waltz, Tom Cole and Mario Diaz-Balart.

The sources say Justice Department officials are looking carefully at a cross section of past cases involving the mishandling of classified material. Though his comments were about the separate Jan. 6 investigation, Justice Department officials said they apply broadly. Experts say the public evidence in the Mar-a-Lago case seems unambiguous. Less clear is whether there are aggravating factors — such as whether the Justice Department can prove Trump obstructed justice by failing to turn over documents despite a grand jury subpoena. Martin’s lawyers said he was a hoarder, and prosecutors concluded that he had not given classified information to anyone.

☆ Republicans who questioned the 2020 results are bringing back an old norm: Admitting defeat
▼ + stars: | 2022-11-10 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Alex-Seitz-Wald-Circle-Byline-Template.Jpg | Alex Seitz-Wald | ) www.nbcnews.com time to read: +7 min

WASHINGTON — The losers of this year’s midterm elections are winning praise for doing something that would be entirely unremarkable in another era — admitting defeat. Of course, dozens of Republican candidates who questioned the legitimacy of President Joe Biden’s election won on Tuesday and will end up in Congress, including Ohio’s J.D. This year, Trump helped Cox defeat a well-connected moderate in the GOP primary to run for governor of Maryland. “I will pray for them and their new role for all of us.”Most losing Republican candidates followed scripts more like Cox’s than Trump’s. Michigan gubernatorial candidate Tudor Dixon initially said Tuesday night that she wanted to see more results before admitting defeat.

☆ U.S. Senate up for grabs as Republicans move toward House majority
▼ + stars: | 2022-11-10 | by ( Joseph Ax | ) www.reuters.com time to read: +5 min

(Live election results from around the country are here.) But Democrats were able to avoid the major defeat that Republicans had anticipated and were holding on in the close Senate battles in Nevada and Arizona. Even a slim House majority would allow Republicans to shape the rest of Biden's term, blocking priorities such as abortion rights and launching investigations into his administration and family. A White House official said Biden spoke by phone with Republican House leader Kevin McCarthy, who announced earlier in the day his intention to run for speaker of the House if Republicans control the chamber. Control of the Senate, meanwhile, would give Republicans the power to block Biden's nominees for judicial and administrative posts.

☆ While some of Trump's picks lost or underperformed, Gov. Ron DeSantis dominated in Florida — heating up talks about who the GOP nominee should be in 2024
▼ + stars: | 2022-11-10 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +5 min

After the GOP underperformed, some Republicans are saying it's time to move on from Trump. Ron DeSantis handily won reelection in a state that has long been considered a swing state, defeating Democrat Charlie Crist with a roughly 20-point lead as of Wednesday. The drastic difference has already led Republicans to turn to DeSantis for 2024 hopes, a prospect that now seems all the more likely. But one of the biggest blows to the GOP, and Trump, came in Pennsylvania, where Lt. Gov. Some were already propping up DeSantis as the best choice for the 2024 Republican presidential nominee.

Former NFL football star Herschel Walker trailed Democratic Senator Raphael Warnock in Georgia, as the two headed to a Dec. 6 run-off election. But Trump-backed Senate candidates J.D. The populist priorities of his "America First" agenda and his combative political style also helped shape the overall Republican campaign. Save America contributed close to $30 million to political allies and Republican Party accounts, including $20 million in October to a group that ran television ads supporting Republican Senate candidates in Georgia, Pennsylvania, Ohio, Arizona and Nevada. But Save America's contributions paled in comparison to spending by the Senate Leadership Fund, or SLF, a leading political action committee aligned with top Senate Republican Mitch McConnell.

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☆ Right-wing media powerhouses pan Trump amid Republicans' underperformance in the midterms
▼ + stars: | 2022-11-10 | by ( Sonam Sheth | ) www.businessinsider.com time to read: +4 min

Three of the most prominent right-wing media outlets in the US are turning on Trump. Fox News, the NY Post, and WSJ editorial board all published critical pieces about Trump amid Republican underperformance in the midterms. The New York Post published a Thursday cover story mocking "Trumpty Dumpty" for failing to unify the Republican Party. The Wall Street Journal's editorial board followed suit, publishing a piece Thursday calling Trump the GOP's "biggest loser." The WSJ editorial board blamed Trump for having "botched" the 2022 midterms, adding that "it could hand Democrats the Senate for two more years."

☆ Republicans did not perform well among independent voters, says Sen. Rob Portman
▼ + stars: | 2022-11-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRepublicans did not perform well among independent voters, says Sen. Rob PortmanSenator Rob Portman (R-Ohio) joins CNBC's 'Squawk Box' to weigh in on the midterm election results, including J.D. Vance's victory to take his seat.

☆ Republicans close in on U.S. House majority, Senate still up for grabs
▼ + stars: | 2022-11-10 | by ( Joseph Ax | ) www.reuters.com time to read: +4 min

A split would mean the Senate majority would come down to a runoff election in Georgia for the second time in two years. Even a slim House majority would allow Republicans to shape the rest of Biden's term, blocking priorities such as abortion rights and launching investigations into his administration and family. A White House official said Biden spoke by phone with Republican House leader Kevin McCarthy, who announced earlier in the day his intention to run for speaker of the House if Republicans control the chamber. Control of the Senate, meanwhile, would give Republicans the power to block Biden's nominees for judicial and administrative posts. MIXED RESULTSThe party in power historically suffers heavy casualties in a president's first midterm election, and Biden has struggled with low approval ratings.

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