Nothing makes me more skeptical than these supposed radio money gurus. First, if they were so good at what they are doing, why would they be doing it on the radio? Second, I didn’t hear one of them, not one, predict the current recession, nor the steady rise in stocks recently.
Yet, like snake oil salesmen, they still keep coming around and the rubes keep ponying up.
Here’s a good story of a Minnesota con artists (alleged) who bilked listeners of $190 million (allegedly). He claimed, like Bernie Madoff, to deliver 10-12 percent returns on their investments. The government claims it was just a Ponzi scheme, like Madoff’s. Pat Kiley’s show, with investor Trevor Cook, ran in 200 cities.
That said, it proves one thing: radio advertising works.
Why do they do radio shows? It’s called marketing. Would you rather they cold call you or send you a direct mail piece?