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KFI Bill Handel and Ray "Buckets of Money" Lucia

T

TeaPartyDude

Guest
Is Bill Handel still conducting investing seminars with Ray "Buckets of Money" Lucia? Lucia use to advertise heavily on KFI and Handel cohosted a number of their presentations. The Securites and Exchange Commission recently indicted Lucia for misleading investor clients, and the "Buckets of Money" presentations have dropped off of the face of the earth.

Ben Stien use to cohost these presentations and was an enthusiastic advocate of Lucia. I am sure both of these men were compensated for endorsements, but it makes one wonder about due diligence.

I am sure Mr. Lucia will pop up with some new retitled money scheme after he pays a fine to the SEC, but who knows. Oh well caveat emptor

http://www.sec.gov/news/press/2012/2012-177.htm
 
I can't speak for Lucia personally or professionally.

I CAN speak for the S.E.C. case. It involves a retirement percentage required, as mentioned in his plan's documents. Lucia says it's 20%. The S.E.C. says that unless it's 30%, Lucia is being misleading.

As an unrelated aside, the S.E.C.'s own retirement documents for its employees says 20%.

Unless there's more to the story, it sounds like an over-zealous prosecutor, imo.
 
In September the SEC accused Ray Lucia of misleading investors by claiming to show them how to invest money in such a way as to have guaranteed inflation-adjusted income for life while the original investment continues to grow. Yeah, there are "buckets" of something, all right, but it ain't money!

Lucia's September 22 seminar in San Diego was co-hosted by Ben Stein. I listen to Bill Handel a lot and I haven't heard any Lucia promos for a long time. KFI's sister station KTLK was carrying Lucia's three-hour program for a few months this year but not now. Maybe the next time Lucia "pops up" (to use TeaPartyDude's words), it will be in a prison cell.
 
I am always suspicious of any "investment program, strategy, or scheme" that promises guaranteed return on an investment. Especially after the recent financial recession and collapse of many major financial institutions virtually nothing is a sure fire guarantee anymore. Afterall if the program is so great and guaranteed return on investment why would one have to advertise so widely?

Just because a public person is paid to endorse a product doesnot guarantee that the product is worthwhile. As I stated in the earlier post, caveat emptor.
 
I don't know about the details of the SEC case, but generally I've always thought all of these guys are the same and their number one goal is to enrich themselves. Plain and Simple.

But having said that I don't necessarily think there is anything wrong with that. Listen to the airwaves on the weekend and you have all sorts of snake oil salesmen selling their crap and hoping to get you to buy their miracle vitamin product, come into their office for a knee or back surgery or attend their seminar in which you can become rich based on the knowledge they give you.

I always say buyer beware and therefore I have little sympathy for people who then decry about being defrauded. I don't know why Handel who must be part of the 1% feels the need to schlock mattresses and seminars.
 
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