This time with Lenny Dykstra and Ron Insana as our hosts.
LongShortTrader has a piece on the investment masterminds taking credit in their "The Street" newsletters for calls made before they had "The Street" newsletters. Says LongShortTrader:
It's not the most accurate title in the world, but Lenny Dykstra's former and Ron Insana's current newsletters for TheStreet.com (TSCM) have something in common -- taking credit for investment recommendations made before the newsletters even launched.
Our attempts to summon outrage have, thusfar, met with abject failure. What's the problem here, really?
Many years ago, before starting my investment newsletter, I told my friend's younger sister that her lemonade stand was "a really crappy idea." That venture's total collapse not days later would have given the short-seller absolute returns of ~90%+ (assuming reasonable securities borrowing costs). I won't bother to compute the annual return. How is that not relevant to the awesomeness of my investment newsletter?
Lenny Dykstra & Ron Insana: Two Peas in a Pod? [LongShortTrader.com]