Lenny Dykstra 'Nails' Says He Hasn't Made A Losing Trade In 2 Years

From the article:

By March 2008, Dykstra was a “golden god” in the financial world thanks to his profitable stock picks, which caused Cramer to declare him “one of the great ones in this business.”
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And yet, Cramer still has public credibility (apparently). Shameful.
 
Quote from sprstpd:


And yet, Cramer still has public credibility (apparently). Shameful.
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I never understood how Cramer EVER had credibility. He's a clown.
 
Quote from marketsurfer:

The guy is a genius and a stock market master.

surf.
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You missed the point. If Cramer is such a genius, why was he praising Nails? At some point these "gurus" have to be held responsible for their bull. It doesn't matter how much you like them.
 
Quote from kut2k2:

You missed the point. If Cramer is such a genius, why was he praising Nails? At some point these "gurus" have to be held responsible for their bull. It doesn't matter how much you like them.
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I agree with you--- Cramer got tricked. Isn't Dykstra in jail now?

It's easy to be duped or hold someone in adoration-- cramer, a big philly fan likely respected Dykstra due to his baseball skills---- Not sure if you ever met a real con man, ( con man = confidence man-- they prey on your confidence in them) but they can be extremely seductive and fool even the smartest folks. It's too bad about Cramer falling for Dykstra's crap, but it has nothing to do with his IQ or trading ability. surf
 
The other posters at Realmoney knew that Dykstra had a martingale strategy that was bound to fail, and told him so. Cramer had to know but still promoted him and his 99-1 record.
 
Quote from marketsurfer:

LOL. Try decade plus of 20% plus annual returns with his hedge fund.
The guy is a genius and a stock market master.
http://en.m.wikipedia.org/wiki/Jim_Cramer#section_1

surf.
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the guy is smart with a good memory... but if you listen to him you know he explained that a percentage of the money he made was from inside sources and info about coming earnings and things of that nature. He once explained how he had, I think it was a schlumberger trade that made a lot of money... and that the gravy train stopped after a while.

Don't get me wrong... you can learn from the guy.
But a stock market master, I am not so sure.

By the way while he was having those returns... guys in my office including me were having 100 percent years and I knew plenty of guys doing better than that.

His big year... 1999... he did about 50%... people all around me were doing 400% (on smaller acounts) but it was pretty easy back then.
 
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