The day we hoped and prayed to the God of Dip would never come is upon us. Lenny Dykstra's Thousand Oak's home will be auctioned off July 9, after foreclosure papers were filed on Nails' ass by private equity firm Index Investors and Washington Mutual. (Dykstra, bless his heart and mind of a child, had attempted to sell the manse last June for $24,950,00, after having bought it ten months earlier for $18.5 million but apparently no one wanted to give him the 33 percent return he so richly deserved). LD is also said to be in debt upwards of $50 million. We're deeply upset about all of this and know exactly who to blame. Jim Cramer.
Not because he fired Lenny from his Street.com gig, "Nails by the Numbers," in which Dykstra dispensed investment advice to subscribers but for something so much worse. We're talking about yet another failed bold call made back in March 2008 (clearly a banner month for JC), when Cramer told Bob Costas, "Lenny Dykstra is one of the greats in this business," which obviously put a curse on Len's head, as did Cramer's insistence on wearing a Nails jersey to bed every night. At the very least he ought to make amends by buying the house and returning it to LD. And an on-air apology-- today-- would be nice.
Posted by guest , Jun 19, 2009 1:55PM
The Jim Cramer Curse is very, very real.
Posted by guest , Jun 19, 2009 1:57PM
I'm waiting for an apology, too.
-- Jimmy Cayne
Posted by guest , Jun 19, 2009 2:04PM
I foresee Nails moving into Cramer's basement.
Posted by guest , Jun 19, 2009 2:07PM
Getting an endorsement from anyone related to CNBC is like the kiss of death... just look at what happened to the Patriots (lost to Giants in Superbowl) and the Redwings (lost game 7 of Stanley Cup, on home ice!) after ownership was featured on "Business of Winning" segments in the run-up to these events. Now throw Dykstra's ashes on the pile and we begin to see a pattern... thank god Obama does not have this bunch of assholes on his side or who knows what might happen
Posted by guest , Jun 19, 2009 2:08PM
50 million in personal debt is beyond stupid
Posted by HeadlessHorseman , Jun 19, 2009 2:10PM
advice is a noun
advise is a verb
I am channeling the ghost of my anal-retentive grade school English teacher, Dick Withers.
Posted by guest , Jun 19, 2009 2:11PM
Serves the basterd right. I still can't forgive him for the corked bat, way back in the '80's.
Posted by guest , Jun 19, 2009 2:15PM
@5- seriously. how the fuck does that even happen.
Posted by guest , Jun 19, 2009 2:16PM
Does this mean we should start watching for the Dykstra comeback?
Impossible is Nothing. especially with corked bats and PEDs.
Posted by guest , Jun 19, 2009 2:18PM
everything cramer touches turns to shit.
Posted by guest , Jun 19, 2009 2:18PM
how could this happen? I mean, he owns a bunch of car washes.
Posted by guest , Jun 19, 2009 2:19PM
@5 what happens when you try to make the "too big to fail" list, he just came up a bit short
Posted by guest , Jun 19, 2009 2:20PM
I did it like this~
I did it like that~
I did it with a wiffle-ball bat.
Posted by guest , Jun 19, 2009 2:21PM
The contra-cramer-trade is the easiest fade to play for the past few years.
Posted by guest , Jun 19, 2009 2:23PM
More stories about coked up Texican laser sharks please.
Posted by guest , Jun 19, 2009 2:28PM
Lenny Dykstra is to Investing as _________ is to ___________
Posted by guest , Jun 19, 2009 2:28PM
SI did an interview with him a few months back, the guy is a mess and is being sued by everyone (including his brothers over the car wash chain)...according to the article he even put some $23k on his mothers credit card to charter a pvt jet...complete idiot...just another ball player that confused arrogance with intelligence...tough as nails perhaps, dumb as a rock for certain
Posted by guest , Jun 19, 2009 2:31PM
Wasn't he an options savant? His ads claimed he was batting 1.000.
Posted by guest , Jun 19, 2009 2:37PM
He doesn't lose money!! He prints it!!
Posted by guest , Jun 19, 2009 2:38PM
2 asshats
Posted by guest , Jun 19, 2009 3:01PM
A Lax bro would never have done that-
"I like to lax, and I like to party"
Posted by guest , Jun 19, 2009 3:08PM
Jim Crapper strikes again!!
You got to hand it to this guy for shoveling so much shit and people still call in for advice on his show.
People are sheep ready to be slaughtered. Lenny just got hung up in the butcher shop. 50 million in debt?
Posted by guest , Jun 19, 2009 3:15PM
Can we get a list of Cramer's Top 10 "Greatest" Calls?
Posted by guest , Jun 19, 2009 3:23PM
Can we get a list of Cramer's Top 10 "Greatest" Calls?
Posted by guest , Jun 19, 2009 3:25PM
Can we get a list of Cramer's Top 10 "Greatest" Calls?
Posted by guest , Jun 19, 2009 3:29PM
Can we get a list of Cramer's Top 10 "Greatest" Calls?
Posted by guest , Jun 19, 2009 3:33PM
LD is the biggest Ahole around. I was in Philly to see the Met's play. I was staying at the Hershey as were the Met's. This ahole steps in the elevator and starts hitting the close door button as some old couple was trying to get in then starts yelling hurry up to them!
I hope he's homeless.
Posted by guest , Jun 19, 2009 3:34PM
one more time!!!!
Posted by Anal_yst , Jun 19, 2009 4:05PM
@18
I believe that's already been addressed in prior threads, something like everything that didn't go his way he just held and didn't mtm anything.
Posted by guest , Jun 19, 2009 4:07PM
it takes a wealthy man to get that deeply in debt - think about it!
Posted by guest , Jun 19, 2009 4:43PM
If you want to know what God thinks about money and fame just look at who He gives it to.
Posted by polizeros , Jun 19, 2009 4:44PM
Oh gosh, and no one at TheStreet.com had a clue that LD was shucking and jiving, eh?
Posted by guest , Jun 19, 2009 10:17PM
You should never take advice from someone with a hair piece. If they can't be honest with themselves, what are the odds that they will be honest with you or that they have a grasp on reality?
@18 - Nails is more like idiot savant but a little light on the savant portion.
- Fixed Income
Posted by guest , Jun 20, 2009 7:47AM
@33 - @fixed
That is some fine advice. I'll be sure to apply it in my daily life. Seriously.
Posted by guest , Jun 21, 2009 1:36AM
He keeps on endorsing Apple stock.Good for his college classmate Steve Balmer! No wonder.
Posted by guest , Jun 22, 2009 7:44AM
Yeah, he's batting 1000. And I'm playing professional baseball, football and basketball this year.
It's a Martingale strategy. First - if he buys 10 options at 3, then buys 30 options at 1 (average cost now 1.5 for 40), and sells them at 1.6, he marks it as a win. At one point in 2009, his options portfolio was MTM -600,000 (which he never mentioned, just kept doubling down).
However, he had at least two big lies during his recent go-round (he's done this kind of thing twice before). First, he had DOX, which he kept doubling down with. He said (exact dates wrong, concept right) he was holding for the last 2 weeks of expiration on Jan 10, posted again about it on Jan 11 and still holding it, posted all his other sales - then, after expiration marked them worthless, claimed he sold them all on Jan 5! TheStreet somehow didn't can him then, after 2 weeks of people yelling and reporters starting to ask questions, marked it at a 200k loss with "conservative accounting".
Then, he had INTC. Same story, double down. Had 880 calls with a limit (not stop limit) of 1.50. Somehow, the calls hit 1.50, however, only 80 (or so) traded at that number, then the stock and option went right back down (one day til expiration). Miraculously, Lenny sold all 880!
There's other stuff, but that's the easiest and quickest to explain.
Posted by mgr1929 , Jun 22, 2009 9:29AM
They have no idea what its like out there!!!!! none..... My friends are going broke!!!!
Posted by Devyn H , Jun 26, 2009 4:05AM
Lenny Dykstra, a three-time All-Star whose tough, gritty playing style earned him the nickname Nails, did not return calls or e-mails for comment. He was known for his trademark cheek full of tobacco and hard play. Lenny Dykstra is going to need hefty cash soon. Athletes are at times thought of as role models, but it's doubtful that Lenny Dykstra will ever again. Lenny Dykstra, former outfielder for the Philadelphia Phillies and New York Mets, has been sued almost 20 times, he's being divorced by his wife, and his $18 million estate is going into foreclosure; he's going to need quite the cash advance to cover it. He has repeatedly failed to pay obligations. He's been named in the Mitchell report as a steroid user, but Jim Cramer thinks his stock show, Nails on the Numbers, is worthwhile – and we all know Cramer to be an authority (On failure). You may visit http://personalmoneystore.com/moneyblog/2009/06/24/lenny-dykstra-ignores-debts/ to read more about Lenny Dykstra.
Posted by guest , Jul 09, 2009 12:37AM
An apology from Cramer? I think he still takes orders from Jon Stewart. How does Jim Cramer still have a job at CNBC? How much more embarrassment can this guy create for that network?
Posted by guest , Jul 09, 2009 12:37AM
An apology from Cramer? I think he still takes orders from Jon Stewart. How does Jim Cramer still have a job at CNBC? How much more embarrassment can this guy create for that network?