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Technology Stocks : U.S. Digital Communications (USDI)
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To: Anthony Darmanin who wrote (106)5/5/1998 8:10:00 PM
From: Phil Jacobson  Read Replies (1) of 308
 
Did some more checking on our new friend, Charles Payne...after all it's nice to know who your friends are.

Several news references come up for Payne in the Electric Library database. Most of these are simply pithy little one liners about the market action for the day that are a stating of the obvious. For example, "word on the Street is there is fear of interest rate hikes". He must be charismatic. He does seem to have gotten himself on the "call for a pithy comment" list.

When he's not making pithy comments he gives the media "hot tips" on unsubstantiated merger rumors. Two examples: on 6/6/97 he reported that BSX would be bought by Bristol Myers at $68 (don't you love it when these guys even know the specific price?). Then on 9/11/97 he originated a rumor that TWA would be bought by Northwest Airlines, which both companies adamantly denied. Two weeks later NW announced a joint venture with KLM. Well, they both *do* have three letters, it's an easy mistake to make.

Only found one other stock pick by Sir Charles. On 12/18/97 he picked Perma-Fix Environmental Services (PESI) when it was at 2 1/4 saying it was a good company that he'd been following for two years and expected it to go much higher. Closed today at the barn burner price of 1 21/32.

So again, what do all these buyers and Charles Payne know that we don't know? Something tells me this may turn out to be a pure momentum play when all's said and done.

I'm sure there are lots of other footprints Payne's left around the internet but the flavor would probably be about the same as these examples.

Phil
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