This video from The Young Turks spotlights two videos about Lenny Dykstra, one is totally fawning. The second, video’ed a year later and within the past few weeks, shows him in bankruptcy with the mansion being foreclosed. He’s being wallpapered by lawsuits and is near-penniless and somewhere between $10-50 million in debt.
The fawning video says Dykstra took a whole year off to learn the stock market, then shows Jim Cramer calling him one of the greats – while pumping Dykstra’s for-pay options trading tips on, you got it, Jim Cramer’s TheStreet.com. Huh, who knew it was so easy to make money in the market, all you need is a year of learning apparently.
ESPN says Dykstra generated $3 million in subscriber fees for TheStreet.com in 2008, and cites a Forbes article saying Dykstra “borrowed” his tips from another newsletter.
I didn’t renew my subscription to TheStreet.com/Real Money a few months ago, primarily due to the appallingly obviousness of Jim Cramer’s snake oil “tips” plus his slimy support for Dykstra. The whole thing was just one big shuck and jive, seems to me. Like too much of the financial world.
The markets now seem obviously manipulated and gamed, so why bother? They may be poisoning their own well.
Gosh, I feel so sorry for the bastard. Really. I feel so bad I wish I could invite him out here onto the Rez to knock back a couple of beers with the bucks and give him a great big (bear) hug.
Someone recently, pointing a finger at me, said something about debtors prison.
Is it his thuggish demeanor, complete lack or remorse, or attempt to blame everyone else for his problems that compels us to feel sorry for him?
By now it is obvious that Dykstra is a complete trainwreck. I mean, everyone is after the guy including his wife plus various other members of the Dykstra clan.
I hope Lenny gets his just desserts real soon, including prison time for fraud. He is a major a-hole and deserves stiff punishment.
Another thing that I hope comes out of this is the utter humiliation of Jimbo Cramer and an end to his career as a stock prognosticator. Jimbo is nothing more than a clown and paid huckster. His lame act is really old and his 15 minutes of fame is long past over.
I second that. Of the little bit of market news I’m forced to watch, Cramer’s bald faced lying just makes me cringe.