Skip to main content

Lenny Dykstra Didn't Feel The Need To Reveal His Intelligence, Market Savvy In The Most Obvious Ways

  • Author:
  • Updated:

When Lenny Dykstra began a downward spiral several years ago, in which he went from having several million in the bank and buying Wayne Gretzky's house to ripping bathroom fixtures out of the place and selling them at a pawn shop before meeting up with hookers to whom he bounced checks, a man named Jim Cramer took a lot of flack for a comment he'd made about LD in March 2008. Cramer told Bob Costas that of all the people Cramer knew (when he ran a hedge fund, before he got into TV), Dykstra ranked as "one of the greats" in the investing industry. Cramer seemed to stand alone in his comment-- especially after Nails started shitting on the floor of his foreclosed house, prompting creditors to file a restraining order-- which seemed to rival the one he'd made the same month about Bear Stearns being more than "fine." Then today, buried in a retrospective on the life and times of Leonard K. Dykstra, who currently sits in a tiny jail cell, vindication.

As business became more complex, Dykstra's behavior became erratic and his relationships more hostile. He badgered employees all hours of the night, disavowed debts and operated on whims. According to Chris Frankie, another onetime Dykstra and Mets fan, he frequently spiced conversations with quotations from a favorite movie, Oliver Stone’s “Wall Street.” “I do think Lenny was deceptively smart in a lot of ways,” Franki said. “He didn’t know everything about every company; he had about 100 stocks that he followed. He had a research assistant. He made picks when I was with him.”

Were they successful picks? Not necessarily, but the point is, he made them.

The Financial Fall Of Lenny Dykstra [NYT]


Getty Images

Legendary Investor Lenny Dykstra Unveils Latest Revenue Stream

It involves "elderly women" and "companionship."