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Lenny Dykstra declares bankruptcy - What happens when you're broke and owe millions? Lenny Dykstra declares bankruptcy - What happens when you're broke and owe millions?

07-10-2009 , 12:57 PM
Quote:
Originally Posted by Huck Cheever
So did he actually scrounge money to keep flying in private jets because he was delusional and thought his business would be successful?

I always wonder what goes on in the minds of these people. I watched my friend go through a (obv scaled down) similar situation, I have no idea how he let himself go past broke either
It's an interesting question. My father and I were having a similar conversation about the odd similarities between people in Lenny's situation and many who lived through the great depression. Perhaps those who have financial experiences drastically removed from the mean are psychologically unable to adjust even when their situation does.

However, in the case of Lenny and others like him (and unlike their opposites), there does come a point where the credit necessary to sustain that standard is no longer available...
Lenny Dykstra declares bankruptcy - What happens when you're broke and owe millions? Quote
07-10-2009 , 01:46 PM
Quote:
Originally Posted by ArturiusX
What drugs do you smoke, I want some.
Dude, I saw the segment on (I'm pretty sure it was on Real Sports) and it was all about how he was one of the best traders ever. Cramer did vouch for him, too, saying "one of the best."

EDIT: obv I grunched...been covered well
Lenny Dykstra declares bankruptcy - What happens when you're broke and owe millions? Quote
07-10-2009 , 02:36 PM
Not just one of the best, ONE OF THE GREAT ONES.
Lenny Dykstra declares bankruptcy - What happens when you're broke and owe millions? Quote
07-10-2009 , 03:38 PM
Wonder if HBO sports will do another story on him. Probably not since it'll make them look like fools.
Lenny Dykstra declares bankruptcy - What happens when you're broke and owe millions? Quote
07-10-2009 , 03:57 PM
Quote:
Originally Posted by suzzer99
Not just one of the best, ONE OF THE GREAT ONES.
That's probably not as good as one of the best.
Lenny Dykstra declares bankruptcy - What happens when you're broke and owe millions? Quote
07-10-2009 , 05:36 PM
Great article...

"Other times, Lenny’s attempts at humor can be downright offensive. At one meeting, Lenny goes off on how a particular layout looks “*****”—despite the presence of a gay page designer in the room. (Later, Lenny says to me: “Did you see the look on that ***’s face?”) On another occasion, I field a call from Lenny about potential cover subjects while I’m at home; Lenny’s on speaker when he proudly states, for both my wife and me, that “nobody can call me a racist—I put three darkies and a bitch on my first four covers.” "

Last edited by JohnnyHumongous; 07-10-2009 at 05:37 PM. Reason: *** = gay insult, starts with F... ***** same word plus "gy"
Lenny Dykstra declares bankruptcy - What happens when you're broke and owe millions? Quote
07-10-2009 , 08:20 PM
Quote:
Originally Posted by Ditch Digger
Wonder if HBO sports will do another story on him. Probably not since it'll make them look like fools.
They did last week or two weeks ago how he is getting sued by all these people and basically dead broke.
Lenny Dykstra declares bankruptcy - What happens when you're broke and owe millions? Quote
07-11-2009 , 01:24 PM
http://www.bloggingstocks.com/2009/0...nbc-interview/


Great CNBC interview lol

7:12 he leeeffffftt..
Lenny Dykstra declares bankruptcy - What happens when you're broke and owe millions? Quote
07-11-2009 , 01:51 PM
Quote:
Originally Posted by LocustHorde
http://www.bloggingstocks.com/2009/0...nbc-interview/


Great CNBC interview lol

7:12 he leeeffffftt..
Gold. What a tooooool. Any player that would give him a $1 deserves to lose this.

I love how he says he is 111-0 on his stock picks. Him and Bernie Maddoff.

He should be in jail. Love how she asks how he is living at the home with no furniture. "It is going through a remodel!" Haha.
Lenny Dykstra declares bankruptcy - What happens when you're broke and owe millions? Quote
07-11-2009 , 03:01 PM
Wow. This is horribly embarrassing. Lets blame it all on Wamu. He is in such denial that it his sad. His attorneys need to sit him down and explain the situation.
Lenny Dykstra declares bankruptcy - What happens when you're broke and owe millions? Quote
07-11-2009 , 03:18 PM
I'm surprised he has anything to pay his attorneys.
Lenny Dykstra declares bankruptcy - What happens when you're broke and owe millions? Quote
07-12-2009 , 11:50 AM
Almost all his trades were purchases of deep in the money options. His trading strategy was to sell once a fixed amount was made (like $1) or hold indefinitely until the option went to 0. 90%+ of his portfolio was long.

The most amazing part of the story is that he freely confessed this to be his stratgegy long before things turned bad.
Lenny Dykstra declares bankruptcy - What happens when you're broke and owe millions? Quote
07-14-2009 , 12:47 AM
Just watched the trainwreck errrr interview. He did compare himself to the Donald....roflcopter.

that is all.

savman
Lenny Dykstra declares bankruptcy - What happens when you're broke and owe millions? Quote
07-14-2009 , 01:59 AM
Donald should have Lenny open for him every time he gives a speech. Next to Dykstra, Trump seems like the epitome of class, grace and style.
Lenny Dykstra declares bankruptcy - What happens when you're broke and owe millions? Quote
07-14-2009 , 02:42 AM
Quote:
Originally Posted by suzzer99
Donald should have Lenny open for him every time he gives a speech. Next to Dykstra, Trump seems like the epitome of class, grace and style.
But which one could lay claim to owning the worlds best everything????
Lenny Dykstra declares bankruptcy - What happens when you're broke and owe millions? Quote
07-14-2009 , 05:53 AM
The interview is fantastic, it looks like he might actually believe it's not his fault, and the magazine will still be successful. I am looking forward to more stories/interviews
Lenny Dykstra declares bankruptcy - What happens when you're broke and owe millions? Quote
07-14-2009 , 11:19 PM
ZOMG!!!!!!

John Stewart has picked up the story and OWNS Cramer once again. This is awesome. LOLLOLLOLLOL

savman

P.S. obviously Stewart browses BFI for material.

edit: If he incorporates The Donald after commercial break it will be the Holy Trinity of The Daily Show.

Last edited by savman; 07-14-2009 at 11:21 PM. Reason: Daily Show edit obv
Lenny Dykstra declares bankruptcy - What happens when you're broke and owe millions? Quote
07-15-2009 , 12:35 AM
Dammit I had to skip the 8pm show to record Nova and the All Star game. 30 minutes til 10pm I want to see this so bad. Why can't it be 10pm NOW????
Lenny Dykstra declares bankruptcy - What happens when you're broke and owe millions? Quote
07-15-2009 , 11:10 PM
Wow, I'm not sure if he actually believes what comes out of his mouth or if he is that delusional.
Lenny Dykstra declares bankruptcy - What happens when you're broke and owe millions? Quote
07-16-2009 , 05:43 AM
Great article. Just watching the video - this guy is off his nut. I lost count of how many times he said "The bottom line is..."
Lenny Dykstra declares bankruptcy - What happens when you're broke and owe millions? Quote
07-24-2009 , 12:43 PM
Dykstra claims to have 110 wins, zero losses. I predict he ends up in jail.

http://www.nailsinvestments.com/
Lenny Dykstra declares bankruptcy - What happens when you're broke and owe millions? Quote
07-24-2009 , 06:03 PM
Quote:
Originally Posted by Justin_Bobby
Dykstra claims to have 110 wins, zero losses. I predict he ends up in jail.

http://www.nailsinvestments.com/
Oh I believe him 100%. All he does is Martingale deep-in-the-money options. Very easy to be 110-0 when that's your strategy. It's the 1 you have to be worried about.
Lenny Dykstra declares bankruptcy - What happens when you're broke and owe millions? Quote
07-24-2009 , 07:23 PM
I tried watching that interview for the first time...yah, I couldn't even get halfway through he's such a moron.
Lenny Dykstra declares bankruptcy - What happens when you're broke and owe millions? Quote
07-24-2009 , 07:34 PM
Quote:
Originally Posted by nuclear500
I tried watching that interview for the first time...yah, I couldn't even get halfway through he's such a moron.
If you want to hear Nails at his best he gives a great interview here...

http://sportsillustrated.cnn.com/danpatrick/
Lenny Dykstra declares bankruptcy - What happens when you're broke and owe millions? Quote
07-24-2009 , 08:08 PM
Quote:
Originally Posted by bills217
Very easy to be 110-0 when that's your strategy. It's the 1 you have to be worried about.
+1

He also doesn't count mark-to-market losses in his W-L record because he just keeps holding onto losing positions. If you doesn't close out the position, it could still be a winner!
Lenny Dykstra declares bankruptcy - What happens when you're broke and owe millions? Quote

      
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