By now, despite what The New Yorker and Bernard Goldberg would like you to think, we generally understand that everybody knows Lenny Dykstra is not actually some kind of financial genius. Apparently not, though: a Forbes magazine investigation has revealed that Dykstra doesn't even make his own stock tips.
Looks like Dykstra is just taking his old mentor's picks.
[Market strategist Richard] Suttmeier says that after he did a television appearance several years ago he received a call from Dykstra. "He wanted to learn how to read a [stock] chart," Suttmeier says. "I taught him."
... FORBES compared Dykstra's buy recommendations as they appeared on TheStreet.com from Apr. 1 through May 1 with those in Suttmeier's weekly Sector Report during the same month and before. Among Dykstra's 17 buys, 11 had appeared days earlier in Suttmeier's newsletter.
We're not sure why the Lenny Dykstra Is An Unlikely Financial Genius ridiculousness started in the first
place, but can we all admit the jig is up now? Please? You've all seen him talk, right?
Lenny Dykstra Busted By Forbes [Blogging Stocks]