Long-time Wall Street broker and analyst Charles Payne hosts a nightly program that helps viewers spot emerging investment prospects. A panel of business and market specialists joins him to discuss the latest headlines, wrap up the day’s activities in the markets, and focus on tomorrow’s moneymakers.
Payne says, “There are money-making opportunities behind every headline.” His goal is to help viewers “find their confidence in the markets and realize their long-term dreams and goals.”
Payne began his career on Wall Street as an analyst at E.F. Hutton in 1985. Payne is the chief executive officer and principal financial analyst of Wall Street Strategies, a stock market research firm he founded in 1991.
In 1999, Payne settled with the SEC over a complaint alleging that on at least eight occasions, Wall Street Strategies recommended that its clients purchase members stock through recorded messages on its telephonic stock recommendation service.
The complaint also alleged that Payne failed to disclose that he received payments from members to promote members stock. Without admitting or denying the alleged violations, Payne consented to the entry of a permanent injunction against violations of Section 17(b) of the Securities Act of 1933. In addition, Payne agreed to pay a civil penalty of $25,000.
Fox Business Channel
In 2007, Payne joined Fox Business as a contributor. In 2014, he became the host of Making Money with Charles Payne.
In June 2019, Payne claimed, “When President Obama was elected, the market crashed … Trump was up 9%, President Obama was down 14.8% and President Bush was down almost 4%. There is an instant reaction on Wall Street.” PolitiFact described the claim as “mostly false”, noting that experts completely dismiss the causal claims put forth by Payne, and instead attribute the market crash to broader economic forces and long-term trends.
In July 2017, Payne was suspended by Fox Business pending an investigation after a former network guest, Scottie Nell Hughes, accused him of rape. Payne denied the charge, but acknowledged having had a three-year-long “romantic relationship” with Hughes before the accusation was made.
Hughes, who kept an apartment near Fox’s Manhattan headquarters for the duration of the affair, claimed she believed it would help her obtain a permanent position at the network. Her appearances were drastically reduced after she ended the affair in 2015 and reported Payne to Fox. On September 8, 2017, Payne’s suspension was lifted.