![]() ![]() So that’s a “maybe” in the “benefit of the doubt” department. ![]() He seems to have used the “I actually liked the stock and this is my genuine analysis” defense in the past and in his disclaimers, so I guess what I’m really saying is that the only reason I’d pay any attention to him at all as a stock picker is that I think he was lying. ![]() So that hasn’t made me overly excited about rushing into any stocks he touts, but, well, that was a long time ago and I haven’t seen anything like that from him in at least a few years… so shall we give him the benefit of the doubt?ĭo note that “benefit of the doubt” for me here means that I accept that he used to get paid, at least indirectly, to disseminate glowing recommendations of individual junk stocks that were obviously terrible investment ideas, and that he’s seen the error of his ways, or had a long talk with the Fox News lawyers (who cut ties with Tobin Smith after his very similar ads for Petrosonic a few years ago), and doesn’t do that anymore… if I thought for a second that he actually really liked and honestly analyzed the stocks he suggested in those ad campaigns, like NXT Nutritionals, I’d say he’s just plain dumb and we should stop reading unless he’s somehow become more rational in the last few years (not impossible, I like to think that the mistakes I made a few years ago wouldn’t be repeated today). He sent out a bunch of ads five or six years ago that, frankly, are among the types I hate the most: The ones where someone with a legitimate reputation or celebrity and a following and a real newsletter for which he charges a subscription fee also takes money from a promoter to push a specific stock even as he’s also trying to sell his own newsletter in the same ad, which seems to me an over-the-top variety of “double dipping.” More interestingly, Payne reportedly used to be a paid stock promoter, using his TV news job to validate his stock picking prowess in suggesting a few junk OTC penny stocks… a fact that he seems to try pretty hard to hide these days. ![]()
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