Von Aldo [1]
It Keeps Getting Worse for Ex-Mets-Star-Turned-Options-Guru Dykstra

It Keeps Getting Worse for Ex-Mets-Star-Turned-Options-Guru Dykstra

gqfeature11v.jpg [2]A few years ago, Lenny Dykstra was the star of TheStreet.com's newsletter lineup. His options newsletter was performing well for its subscribers, who ponied up nearl a grand a year to read his options strategies. But, as we all know, Dykstra was not, as they say, "on the up and up."

The New York Post today reports [3]that Dykstra, who played for the World Series champions Mets in 1986, is being accused of participating in a "stock picking scam," as the Post calls it. It's amazing that Dykstra was able to reinvent himself as a financial expert after having been known on the field as "Nails." He launched a personal finance magazine called, The Players Club [4], that failed. And there are lots of stories about how Dykstra made promises to employees and freelancers [5]--- and then never paid them.

It should be clear that Jim Cramer, a founder of TheStreet.com and host of Mad Money, is not implicated in this at all. I know Jim --- met him back when I worked at SmartMoney, another publication he helped launch --- and he is an honest guy. (Cramer wrote a story for us back in 2006 [6], on the occasion of Registered Rep.'s 30th anniversary.)

Here is a wonderful account of what it was like to work for Dykstra, published in GQ in April 2009, "You Think Your Job Sucks? Try Working for Lenny Dykstra [7]." It's a great read.