Is Lenny Dykstra Broke & TheStreet.com’s Latest Bad Pick?
Posted by Timothy Sykes on Wed 8th of Apr, 2009 09:22:33 AM
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Probly, but who really knows…
Judging from this NY Post article–not the most accuate of papers–I’d say yes, but who cares!
We already know TheStreet.com makes ad bad as, if not worse, picks than Fool.com, and CNBC, that’s why all three “powerhouses” are struggling/should be shuttered by a horde of angry/newly poor readers/viewers (wait, the stock market is about performance? I thought it was about spamming hot tickers, doh!)…the only reason I copy and paste the entire gossipy/useless article is as a followup to my original Lenny post and to help you understand that if Lenny didn’t piss off dozens of NYC-area journalists with his Randall Lane/Trader Monthly-esque managerial incompetence, the press wouldn’t give a shit about this ex-baseball player/wannabe-options-guru.
My point is that the media, especially the financial media, is dumb….dumb as Vick (Michael Vick) and poor as shit (Slumdog poor) and they write about whatever they can to get paid and appeal to readers/assuage editors.
So you can be entertained by petty catfights that play out behind the media scene to get articles like the one below written or you can use this cynicism to learn to short sell hyped up pieces of shit (like Dykstra, if he was a stock, oh wait, TSCM is TheStreet.com, which has been a great short for the past year+)….don’t be bitter/offended/angry with what I have to say, just learn what a joke the stock market and those who cover it actually is…it’s not funny, just a profitable joke if you know how to read all the signs.
Check out how journalists get back at their ex-boss after being stiffed a few thousand dollars:
“Nails” has been hammered flat broke.
Lenny Dykstra, the once high-flying former Met turned entrepreneur and self-described Wall Street whiz, is at risk of losing his $18 million California mansion and private jet, according to documents and associates.
“He’s been writing bad checks all over town,” one source said.
The private-equity firm Index Investors filed foreclosure papers March 11 on Dykstra’s sprawling Thousand Oaks estate, which he purchased from hockey legend Wayne Gretzky, records show.
Dykstra, a three-time All-Star whose tough, gritty playing style earned him the nickname Nails, did not return calls or e-mails for comment.
The firm gave Dykstra a $850,000 bridge loan in November to help his struggling The Players Club magazine meet expenses. That loan was secured with his mansion, which has been described as the crown jewel of the exclusive Lake Sherwood Country Club Estates in Southern California, the source said.
But Dykstra allegedly missed making payments, which were supposed to begin in January.
Index Investors declined to comment.
Washington Mutual then filed its own notice of default on his $12 million mortgage on March 18.
Meanwhile, Dykstra’s Gulfstream II was impounded in Cleveland on Feb. 12 after a creditor said the ex-slugger failed to pay $228,000 for interior renovations to it. The work mainly involved the installation of a state-of-the-art entertainment system.
Constant Aviation, which is in possession of the jet, declined to comment.
The former center fielder also is targeted in a dozen lawsuits by ex-employees and creditors who say they’ve been stiffed by him.
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Related Reading
- Trader Monthly Shut Down, But This Isn’t The End, There’s Possible Fraud Involved Too!
- Forbes The Latest Victim In Randall Lane’s Web Of Deceit Or Why Trader Monthly aka Doubledown Media Is Failing
- Attention Bank of America Corporation (BAC) & Wells Fargo & Company (WFC) Customers: Hopefully This Ain’t You!
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