Charles Payne
Charles Payne
Charles Payne joined FOX Business Network in October 2007 as a contributor.
Payne is also a contributor to FOX News Channel (FNC), frequently appearing on shows such as "Cashin' In," "Cavuto
on Business," and "Bulls and Bears." In addition, Payne is the chief executive officer and principal analyst
of Wall Street Strategies, an independent stock market research firm he founded in 1991.
Widely recognized as a leader in the analyst community, Payne's first book, "Be Smart, Act Fast, Get Rich," was published
in May 2007.
Payne began his career on Wall Street as an analyst at E.F. Hutton in 1985. He attended Minot State College and Central Texas
College during his time in the United States Air Force.
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A specialist is a member of a stock exchange who works as an auctioneer for a specific stock and/or stocks. It can be an individual, partnership, corporation or group of firms.
The specialist works to maintain a "fair and orderly market" for respective stocks, matching up buyers and sellers by displaying the best "bid" and "ask" prices at its trading post. If buys are not equal to sells, the specialist evens the scale by buying or selling shares, accordingly. However, they cannot make their own transactions until all investor orders have been placed.
Gauging supply and demand, the specialist sets an opening price for the stocks in its domain. If a price has not been set by the time the market opens, the specialist can delay that particular stock's opening.
Specialists make money off the "spread," which is the difference between bid and ask prices on orders.
