Dan Levine - Shyster on WBAP

[Red Oak]

I caught the tail end of Sperry's gardening show this morning, and afterwards Dan Levine "Investment" show came on, he was poor mouthing Mutual Funds and pushing the latest Insurance annuity BS. Saying do you want to loose 50% of your money like you did in 2008 ?

6 years or so ago this shyster was pushing Life Settlements, in which you will loose more than 50% of your money or more when you include loss of earning of your investment and your yearly premium payments.

So I did a quick web search and found this clown lost his brokers
License by pushing LPHI and other crap.

I distinctly remember him saying 6 or so years ago that you you put 50% of your retirement in Life Settlements.

Red Oaks rule of Investing learned the hard way - never Invest in anything advertised on the radio or
T V.

[GFB]

There's a guy on the radio here..not sure if you get him in Dallas..Doug Andrews..same deal..complete shyster.

This guy lures you to a seminar, like many of them do..and tells you to break into your 401K or IRA prematurely and put the money in an annuity or insurance policy.

[Red Oak]

And the Shyster pockets 5-10 off the top.

[BillB]

Life settlements?
Is that the scheme where you buy out life insurance payoffs?
I read where people have lost a ton of money on those things. People are living much longer than the actuary tables say they will.

Levine was pushing annuities that pay 7% annually against S&P profits (whichever is more), at least 15 years ago.
He may have been hawking the life settlements also.

[BigTex]

Some of these guys even try to give you automotive advice.

[GFB]

Life settlements?
Is that the scheme where you buy out life insurance payoffs?
I read where people have lost a ton of money on those things. People are living much longer than the actuary tables say they will.

Levine was pushing annuities that pay 7% annually against S&P profits (whichever is more), at least 15 years ago.
He may have been hawking the life settlements also.

The difference is..you can invest in the S&P direct in an online account which will cost you nothing..or a very small transaction fee.

Poor Mr. Levine won't make a cent that way..annuities are a wonderful payday for these guys..and often pays year after year to them..right out of your hide.

"Annuities are not bought..they're sold."

[Red Oak]

Life settlements?
Is that the scheme where you buy out life insurance payoffs?
I read where people have lost a ton of money on those things. People are living much longer than the actuary tables say they will.

Levine was pushing annuities that pay 7% annually against S&P profits (whichever is more), at least 15 years ago.
He may have been hawking the life settlements also.

That is it, they paid some sorry assed MD to state the Insured had 2-4 years of Life Expectancy, the shady MD didn't get paid if he didn't agree to the Fiction. I read where one attorney said that of the 500 policies he had looked at none, zero, nada, zilch had died within in the period that was stated.

States and the Feds have been after LPHI, but they have skated for the most part.

[BillB]

Life settlements?
Is that the scheme where you buy out life insurance payoffs?
I read where people have lost a ton of money on those things. People are living much longer than the actuary tables say they will.

Levine was pushing annuities that pay 7% annually against S&P profits (whichever is more), at least 15 years ago.
He may have been hawking the life settlements also.

That is it, they paid some sorry assed MD to state the Insured had 2-4 years of Life Expectancy, the shady MD didn't get paid if he didn't agree to the Fiction. I read where one attorney said that of the 500 policies he had looked at none, zero, nada, zilch had died within in the period that was stated.

States and the Feds have been after LPHI, but they have skated for the most part.

There was one spotlighted on 20/20 or Dateline (don't remember which) that targeted policies held by AIDS patients.
People lost a fortune investing in it because the new treatments kept them alive much longer than before.

[Red Oak]

This is similar, but was sold as a way to sick elderly folks get something out of their Whole Life Policy for their last few years on earth.

[planosteve]

Agree with Levine assesment. Figured him out years ago. Another one is Ken Moriff on Money Matters. His thing is "exit strategy". Problem is you need to exit before it drops, not after. I remember in 2009 when the market started coming back he waited about 3 months before he started recommending stock market investment again, The market was already up 25%.

[Red Oak]

As far as I can tell Scott Burns and his "Couch Potato" allocations are hard to beat.

[Bob Of Burleson]

You can say what you will about government regulations, but I contend that it was a black day when advertisers took control of the nation's electronic airways and we began getting weekends of nothing but infomercials. Radio stations should be considered a public service and advertising limited to a certain percentage of hour-long blocks.

So call me a socialist.

[Red Oak]

There was a down side to de-regulation.

[Red Oak]

Link to article

http://touch.investmentnews.com/smartph ... /306169978

[BillB]

You can say what you will about government regulations, but I contend that it was a black day when advertisers took control of the nation's electronic airways and we began getting weekends of nothing but infomercials. Radio stations should be considered a public service and advertising limited to a certain percentage of hour-long blocks.

So call me a socialist.

Radio Havana still does it that way. Actually all the advertising is state propaganda.

[Bob Of Burleson]

Australia still has excellent programming, but I don't know what part government plays — if any.

[Just Me]

Australia still has excellent programming, but I don't know what part government plays — if any.

http://en.wikipedia.org/wiki/Media_of_Australia

http://en.wikipedia.org/wiki/List_of_radio_stations_in_Australia

They seem to be running a little behind - no color TV until 1975 ?

[Bob Of Burleson]

Some of the Australian talk shows are still like Kevin's old show and they have a lot of interesting callers. I listen to a Wi-Fi radio at night and I have a number of Australian stations programmed on Reciva, but I suppose you could use your tablet to pick up ones that are streaming.

[zoomzoomklunk]

"Some of the Australian talk shows are still like Kevin's old show and they have a lot of interesting callers. I listen to a Wi-Fi radio at night and I have a number of Australian stations programmed on Reciva, but I suppose you could use your tablet to pick up ones that are streaming."

Bob, would you pm me those channels. I tried to pm you but not sure it went thru. Thanks...zoomie

[BigTex]

And those traffic reports for Melbourne come in real handy.