Lenny Dykstra Goes to War

by StockJockey

Friday, May 02, 2008 - 11:24 am

Lenny Dykstra's stock picking prowess is the stuff of legend.

Although I found his claims in the fall of 2006 to be a bit exaggerated:

October 22, 2006
Dykstra says more than 90 percent of his stock picks are money-makers. And if you don’t believe it, he says with that familiar edge, ”go ahead, dude, look it up.”

And while Lenny might be peddling snake oil, is he also showing his true (pin) stripes, in taking on the publishers of Trader Monthly?

Former Mets outfielder-turned-magazine entrepreneur Lenny Dykstra is embroiled in a bitter legal brawl with the publisher of Players Club, a financial advice and lifestyle magazine aimed at affluent pro athletes that Dykstra founded....The finger-pointing by both Dykstra and the publisher, Doubledown Media, centers on cost overruns at the magazine, as well as charges by Dykstra that Doubledown used his name without permission to launch a newsletter and Web site called The Dykstra Report, which isn't connected to Players Club.....Doubledown claims that Dykstra ran up excessive costs and still owes the publisher more than $587,210. New York Post

Dykstra has always been full of shit, and has been crowing about his business prowess for years now:

January 3, 2007
"Yes. I am a good investor. And I’m not afraid to say that. I’m a winning investor."

Dykstra’ lastest dustup sounds like vintage Nails to me:

“Dykstra proved himself to be a mercurial, difficult client whose many idiosyncrasies and demanding personality imposed substantial costs on the planned publication and created excessive burdens for Doubledown,” the company claimed in a court filing. “At the same time, Dykstra began shirking his financial obligations to Doubledown.”

Dykstra has moved the venture over to a custom division of American Express Publishing, but is not showing any signs of contrition:

“He thinks I’m going to buckle,” said Dykstra, referring to Doubledown President Randall Lane. “I don’t buckle - I go to war.”

It appears Lenny might need to resurrect his car wash empire, at least he was good at that. He was one hell of a ballplayer too, but it might not be what people remember him for.
_______________________________________

DYKSTRA SWINGS AWAY
New York Post

Lenny Dykstra….Stockpicking Savant?
1440 Wall Street

Tough Guys
1440 Wall Street
---------------------------------------------------------------------------------------------------------------------
The content contained in this blog represents the opinions of 1440 Wall Street. This commentary in no way constitutes a solicitation of business or investment advice. It is intended solely for the entertainment of the reader, and the author. No Position