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Thursday, July 2, 2009

Dykstra: Why I'm not suing TheStreet.com
Ex-Phillie Lenny Dykstra writes in an email about his ouster from TheStreet.com and his future plans as an investment pitchman:

"You know, although I really don't like the way that things went down with TheStreet.Com and how they ditched me in the end, I still feel like the termination of the relationship is much more of a loss for them than me.
 
"At the end of the day, I just try to appreciate what I learned from the experience and the fact that I am indeed grateful to have had the opportunity. 
 
"Presently, rather than embroiling myself in another lawsuit (Lord knows I've got enough on my hands with the divorce proceedings. . . .), I figure I should instead just focus my energies on building up www.NailsInvestments.com to be the type of investment site in which I can truly take pride.
 
"I realize that it won't be an easy task to win people back, but money talks and all of those who took advantage of my strategy earned the dollars to prove that it works.  Can you believe that I'm 111 and 0 now?  (Even I am a bit amazed at that myself!)  
 
"By the way, I noticed that you are not yet a subscriber to our newsletter. When will you be joining us as a subscriber so you can take advantage of the 3 picks a week? Just go to www.NailsInvestments.com and sign up. We're working on making some significant improvements to the site and are committed to providing a top notch service to our members....
 
"I genuinely appreciate your interest and look forward to welcoming you to the team!

"My Sincere Best, 
Lenny K. Dykstra,
Nails Investments, LLC
Founder & Managing Member
www.NailsInvestments.com"
 
Didja notice how he got his online address in there three times? He wants $995/year for a subscription. When I checked it out, his PayPal link was down "due to a problem with the seller's website." Not that I was ready to subscribe... I'm still waiting for Dykstra to show how he figures his investment record is "111 and 0."
 
See also: ESPN's Mike Fish in April on Dykstra's troubles; Phillydeals June 30.
Posted by Joseph N. DiStefano @ 7:18 AM  Permalink | 8 comments
Comments   
  • 0 like this / 0 don't   •   Posted 10:35 AM, 07/02/2009
    Dykstra sounds crazy. Dude, get some help.
    — p-diddy
  • 0 like this / 0 don't   •   Posted 10:41 AM, 07/02/2009
    lenny is one of a kind. He and spaceman Daulton are true examples of what drugs do to you. The HBO real sports piece on nails last week was the funniest thing I've seen since McSmiley the clown had the sad face on in the second half of last years Baltimore game.
    — jwatson
  • 0 like this / 0 don't   •   Posted 10:47 AM, 07/02/2009
    You know what, I'd buy a set of kitchen knifes from this guy anytime. I think he's just a little out of the right price range for what he's pitching...
    — NickEeee
  • 0 like this / 0 don't   •   Posted 11:07 AM, 07/02/2009
    We could use him as a leadoff hitter right about now.
    — jb420
  • 0 like this / 0 don't   •   Posted 11:09 AM, 07/02/2009
    From the ESPN article, the 111-0 claim is ludicrous: "It is all nonsense," says Warner, options editor for the financial Web site Minyanville.com. "He'll buy a 10 lot of, say, IBM. And if it makes a dollar, he'll sell it. If it loses, he'll buy more and he'll keep buying more and more. So he'll never actually realize a loss. And he buys options that expire in as few as six months and sometimes as long as a year. He'll book his wins and he'll just let the losses run. So what happens is, he wins all his picks, but the losers may eat up 100 wins. The bottom line is how much money you make. It's not how many picks you make or what your winning percentage is."
    — kse
  • 0 like this / 0 don't   •   Posted 11:58 AM, 07/02/2009
    jesus couldn't pick 111 stock winners with zero losses. maybe bernie madoff, but not jesus.
    — tfcino1
  • 0 like this / 0 don't   •   Posted 6:02 PM, 07/02/2009
    Dykstra isn't using TheStreet because he's broke and can't afford to hire any attorneys. Amazing how a guy who is supposedly 111-0 in picking stocks is completely broke and practically bankrupt.
    — JimG
  • 0 like this / 0 don't   •   Posted 11:01 AM, 07/03/2009
    Lenny belongs in jail.
    — NiceToBeHere


8 comments
About Joseph N. DiStefano
Joseph N. DiStefano writes this blog to feed his PhillyDeals column in the Philadelphia Inquirer. Joe has been a member of Bloomberg LP’s New York Finance Team, wrote the book “Comcasted,” taught writing at St. Joseph’s University, and studied economics and history at Penn. Reach Joe at 215-854-5194 and JoeD@phillynews.com
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