Charles Payne

So Let It Be Written, So Let It Be Done.
The Ten Commandments

This week, published a poll on Main Street's appetite for investing (conducted by Princeton Survey Research Associates), which revealed 73% of adults are no more inclined to invest in the stock market right now, than in the past. I know there is a notion that there is this voracious Main Street appetite for stocks because major indices are at or near all-time highs, but that notion is completely off base. Ironically, the masters of the universe, who mostly "say" the market is going to crumble, continue to make piles of money ... in the stock market.

However, it is a wonderful thing when you can talk up your book, and for a period of time are guaranteed success as individuals, while others follow your lead (and established position). The New Pharaohs are so powerful that they are going after the biggest companies and are dancing in the grey areas of the security rules and laws. Track records do not matter at this point, because these guys have the world in the palm of their hand:

* Build a massive position in a company and then get another company to launch a takeover bid - whoa! That is a heck of a trick.

* Go short a stock then get lawmakers to launch investigations, which taints that company and its underlying shares.

* Bully, intimidate, campaign, and now collude, all done in plain sight. These guys do not want to be lumped in with the greenmail crowd that once shook down companies for quick scores. These days their prey or targets are laid-out with professional rationale (save the notion of shorting Chipotle Mexican Grill because of Taco Bell), and slideshow presentations. It is all on the up and up, and the only thing is that every stock not in their scopes is overbought, and ready to crash.

Talk about an amazing feat - they do a nuts and bolts evaluation of their targets, along with all the other publicly traded stocks in the market, too.

Alternative Agendas

Moreover, I find many of these market masters to be serious limousine liberals that pump gobs of money into politics, make billions in the stock market, pay lower tax rates than I do, and still get a free pass in the press. Late yesterday, David Einhorn said that people should be afraid of what high-frequency trading is doing, and should only use, mentioned in Michael Lewis' book. He also said that this is the second tech bubble in 15 years, even if there are fewer bubble names, and the enthusiasm is tepid compared to 2000.

Charles Payne

Charles V. Payne is a regular contributor to the Fox Business and Fox News Networks. He is also the Chief Executive Officer and Principle Analyst of Wall Street Strategies, Inc. (WSSI), founded in 1991 which provides subscription analytical services to both individual and institutional investors.

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