In the past when I visited Jim Cramer's web site, TheStreet.com, I remembered being puzzled seeing financial advice being offered by former Major League Baseball player Lenny Dykstra. Mind you, I never found his advice useful. He simply added to the noise of the day analysis of the stock market. He advocated risky trading strategies and often made unsubstantiated claims about the supposed profitability of his trading recommendations. It was clear to me that having a Dykstra column was simply a Cramer marketing gimmick to draw in unsophisticated stock market followers who happened to be sports fans.

	At the April 2008 launch party for The Players Club, Jim Cramer had high praise for Dykstra's stock picks.

And, Cramer got Dykstra started in the investment newsletter business - and get this - Dykstra's newsletter was charging a whopping $1,000 annual fee which was bringing in big bucks to Cramer's web site. (I guess I'm really not charging enough for my premium members!)

Now comes word that Dykstra has filed for bankruptcy! How's that for solid proof of how his risky investing recommendations have turned out for himself and his followers?

This ESPN article, written before Dykstra's bankruptcy was filed, is a detailed summary of Dykstra's dysfunction, including his rise to investment fame thanks to Jim Cramer.

Copyright Eric Tyson, 2008 - 2010 all rights reserved.

Eric Tyson is the only best-selling personal finance author who has an extensive background as an hourly-based financial advisor and who does not accept speaking fees, endorsement deals or fees of any type from companies in the financial services industry or product or service providers recommended in his articles, books and his publications.