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:
Insana, 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.