Enjoy reading the stock picks of former Mets outfielder Lenny Dykstra in TheStreet.com (TSCM)? Forbes has bad news for you: Lenny’s calls may not be his own.
The magazine, prompted by a legal fight between Lenny and a publishing outfit run by former Forbes writer Randall Lane, suggests that Lenny’s picks are served up to him by pro analyst Richard Suttmeier, who has his own stock newsletter. To prove its point, it examines 17 recommendations that Lenny made in April, and finds that 11 of them had appeared in Suttmeier’s letter “days earlier.”
To be fair, Forbes doesn’t have evidence that Dykstra is repurposing all of Suttmeier’s picks. And there are plenty of me-too stockpickers — it sort of comes with the territory. “This is a smear job,” Lenny tells Forbes. Who knows? But it’s a great read. (For another great read on Lenny — this one much more sympathetic — check out the New Yorker’s profile from earlier this year.)
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