In the early 1940s, a swindler calling himself the "Red Sage" and the "Lucky One" ran a scam in which he manipulated stock prices to deceive his marks into believing he had sold them some good luck, and that he could remove it at will. These people were duped into carrying out crimes on the Red Sage's behalf. This racket came to the attention of Doctor Fate, who intervened and debunked it. Rather than endure arrest and imprisonment, the Lucky One leapt out a window, apparently to his death.

  • This version of Red Sage (Earth-Two), including all history and corresponding appearances, was erased from existence following the collapse of the original Multiverse in the 1985–86 Crisis on Infinite Earths limited series. Even though versions of the character may have since appeared, this information does not apply to those versions.
  • Red Sage is an enemy of Doctor Fate.