Last week TheStreet.com pulled an article that dared to mention the fact that Lenny Dykstra had filed for Chapter 11 bankruptcy, and jokingly (?) suggested you "short Dykstra rookie cards." Today we're told the site has censored another story on Nails' and his financial trubs. This one was not taken down entirely, but instead edited to remove any (essentially innocuous, compared to what they could have said) references to L-Dykes. This was the original copy:
Robert MarcinInsana, Nails, Meredith
7/13/2009 2:38 PM EDT
If I heard Ron right, he was "doubling down" on homebuilders and banks with proceeds from defensive tech, staples and health care. It's an aggressive call, but both sectors had been hit hard in the recent correction and offered decent entry points. It's the averaging down that's the problem.I didn't think Meredith was all that positive. Sure, there are gimmicks the banks can use to help EPS. And, the capital raises necessary to fund the deficits are huge and come with fees. But so bad it's good is not an investing theme in my opinion.
How much money has been lost on the oil drop tax cut theme? Another gimmick trade that can work for days but doesn't have legs. And speaking of no legs, what the heck happened to Nails? Not a lot of kudos there.
The new version, behind a subscription wall, is merely called "Insana, Meredith," and lacks the last two lines. So-- kinda shady! We get that TSC-founder Jim Cramer is attempting to distance himself from former employee and friend LD, and the bold call JC made back in March 2008 that Lenny-boy is one of the greatest investors of our time. But this is getting ridic. Also? JC could be making some money here. Who in financial journalism knows Nails better than Uncle Jim? Who has the early drafts of this column? Who's got the outtakes of this photoshoot? This is sort of thing we, and I don't think we're alone here, would actually pay to view on TSC. In fact, if we weren't cornering the market ourselves, we'd suggest that they convert the entire site to exclusive coverage of the big man.
Posted by guest , Jul 13, 2009 4:07PM
it just hurts so bad.
-jc
Posted by guest , Jul 13, 2009 4:09PM
Licorce is for closers!!
JC
Posted by guest , Jul 13, 2009 4:11PM
Rattner's already quit as car czar?! Lord help us!
Posted by guest , Jul 13, 2009 4:12PM
@2 Twizzlers, peon. Fucking TWIZZLERS.
-LD
Posted by guest , Jul 13, 2009 4:21PM
fucking derelict! I could use the coverage.
-LD
Posted by guest , Jul 13, 2009 4:22PM
Look at these clowns!
-L Dykes
Posted by guest , Jul 13, 2009 4:23PM
Where's a real respected businessman in our society at thestreet.com? you don't see one.
-LD
Posted by guest , Jul 13, 2009 4:27PM
My asshole is bleeding.
JC
Posted by guest , Jul 13, 2009 4:29PM
If nothing else, there's a little money from the Twizzlers product placement to be had.
Posted by guest , Jul 13, 2009 4:34PM
SOURCE: LEGENDS AIR WEB PAGE
It says it all!! Well not everything...
Legends Air was founded by Lenny Dykstra, a three time National League All-Star baseball player, playing for the 1986 World Champion New York Mets and the 1993 National League Champion Philadelphia Phillies. For 12 years, Lenny was known for his “tough as nails” attitude on the field.
Lenny now serves as president for several privately held businesses in Southern California, where the same mental toughness that precipitated his success as a professional athlete has propelled him to a level of success not typically known for retired athletes. He is the founder of The Players Club, as it has been his desire to give back to the sport that gave him early success in life; by teaching athletes how to invest and protect their incomes.
He currently manages his own investment portfolio, has written daily articles for the investment website, TheStreet.com and publishes his own investment newsletter sharing his deep in-the-money calls strategy. Reently 'Nails' was recently featured on HBO’s Real Sports with Bryant Gumbel, and makes guest appearances on Bulls and Bears, CNBC, Fox News and other cable news shows featuring investment strategies.
Lenny is now taking his 'tough as nails' attitude and launching his professionally managed aircraft sales, leasing and management firm, Legends Air.
Posted by guest , Jul 13, 2009 4:35PM
JC and L. Dyke are two of a kind and deserve eachother.
Posted by guest , Jul 13, 2009 4:36PM
@11 I just hope they realize it before it's too late.
Posted by guest , Jul 13, 2009 4:44PM
@10 -- LDyke certainly has a vivid imagination, I'll give that to him.
Actually, he does do something of benefit for professional athletes -- he serves as an example of what not to do financially after you retire from professional sports.
I saw his recent interview with Jane Wells from CNBC. Seriously, there has to be something wrong in the head with LDyke -- the way he came off in the interview was embarassing.
This whole affair is not going to end well for ol' Lenny.
Posted by guest , Jul 13, 2009 5:11PM
Not sure how this will affect Nails' son Cutter in the Brewers' organization.
My guess is that the Brewers' management, made up of former players, drafted Cutter - a shitty outfielder at Wisconsin - as payback for the millions Lenny was making for them. Now he'll be lucky to make it as an flight attendant on Legends Air.
Posted by guest , Jul 13, 2009 5:52PM
Cutter isn't a shitty outfielder in Wisconsin, he's a shitty 2nd baseman in Helena Montana - it's the Helena Brewers. And he's shitty because his father stole from his bank account until his mother found out and moved his money so Lenny couldn't swipe it anymore. Hoping Cutter's mind will free up so he can play like a champ again.
Posted by guest , Jul 13, 2009 5:57PM
Baseball; slow as molasses thinking and moving. No teamwork. dominated by illegal drugs. dominated by marketing, tv timeouts, breaks, and chew. dominated by substitutes, coffee breaks. no creativity. no internationalism. all baseball stadia paid for by socialism/taxpayor. Yup, great training for a hedge fund manager. And now the Cubs are filing for bankruptcy. we love baseball ,hotdogs, chevrolet,....lalalalal
Posted by guest , Jul 13, 2009 8:27PM
@16 -- As Jim Bouton said the his 1969 book "Ball Four" -- "The problem with baseball is that there isn't enough going on to keep a man's mind occupied".
I agree 100% -- I haven't watched a complete basball game on TV or in person (I live in Los Angeles) for over 20 years.
Posted by EvilBuzzard , Jul 14, 2009 9:22AM
Bess, just stop it. You are like Mike Tyson mercilessly pummeling Peter McNeeley. It isn't even remotely fair.
Go back to dogging Vikram Pandit or Larry Summers. At least, when he's awake, Summers can manage an occaional retaliatory fusilade.
This Lenny Dykstra thing is like picking on the We-Tahd Kid on the short bus. Aim higher.
Posted by guest , Jul 14, 2009 4:13PM
Marcin is too critical to the columnist conversation at RM (comments there are largely, but not entirely unmoderated) to have his comments deleted, as the last one was. So they erased the offending portion.
Many columnists at RM, particularly Steve Smith, who understood options well, tried to interact with Lenny over the lack of risk control in his strategies, but he never gave any significant responses.
Lenny could never get his head around the fact that his strategy was similar to being levered up by a factor of four, and yet he thought it was a safe strategy.
Bringing on celebrities as investment advisors may goose page views for a time, but in the long run it destroys value for readers.