GM. This is Dumb Money, rounding up the internet's biggest Ls so you don't make them yourself.
Today features a man who bought twelve Solana memecoins and lost money on every single one. Not most of them. All of them. $1.2M in combined losses across three stories that all ended the same way.
Here's what we've got today:
🏆 A Solana trader. Twelve memecoins. Zero winners. Over $1M gone.
📉 AMD calls the day after the biggest tech selloff since June.
⚡ A trading bot with 70,000 users. A wallet drain. $106K vanished.
📊 The data on today's carnage. It is worse than you think.
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| TODAY'S DAMAGE REPORT 📊 | |||||
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The AI boom has put a spotlight on a little-known resource Weiss Ratings calls Computium.
Now, Chris Graebe is revealing the companies that could benefit as billions flow into producing more of it.
LOSS OF THE DAY 🏆
Every day we crown one person who made the worst financial decision on the internet.
Today's winner didn't make one bad decision. He made twelve. Back to back. On the same blockchain. With the same result every single time.
Here's the setup. A trader on Solana decided memecoins were his path to financial freedom. Not one memecoin. Twelve of them.
He bought the first one. It went down. He bought a second. Also down. A third. Down again.
A reasonable person might stop here. Our guy saw this as a sample size problem.
Twelve trades. Twelve losses. A 0% win rate across $1,041,200 in total capital.
He sold everything on October 20th. Every last position. The on-chain receipts show zero winners out of twelve attempts.
For context: a coin flip gets you to 50%. A dart thrown at a stock page gets you somewhere near market returns. You have to actively try to hit 0% across twelve trades.
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TOTAL RETURN -$1,041,200 ▼ 12/12 tokens - 0% win rate 1D 1W 1M 3M ALL | ||||||||||||||||||||||||
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"Sold everything. 0 for 12. AMA." Bought 12 different Solana memecoins over the past few weeks. Every single one went down. Not most of them. All of them. Final damage: $1.04M. My strategy was diversification. Turns out diversifying across twelve bad decisions is still just twelve bad decisions. Top comment: "This isn't diversification. This is a speedrun."
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| Quick note on Solana memecoins: These are tokens anyone can launch in minutes with near-zero cost. Most have no product, no team, and no reason to exist beyond a Telegram group with rocket emojis. Roughly 74% of ordinary buyers lose money on new Solana memecoins, per on-chain data. Buying twelve of them is not diversification. It is multiplication. |
The blockchain remembers everything. And what it remembers about this guy is a perfect losing streak that would be statistically impressive if it weren't so expensive.
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TODAY'S CASUALTIES 💀
Not everybody can be Loss of the Day. But these two gave it a real shot.
Let's run through the tape.
Casualty #1: The AMD Earnings-Week Optimist
AMD was up 137% on the year. Susquehanna had just raised their price target. Chips were the hottest trade on the street.
u/chip_calls_only saw all of this and bought 90 AMD weekly call contracts. $560 strike. $8.16 per contract. Total cost: $73,440.
One problem: Meta had reported earnings earlier that week. Free cash flow went negative for the first time in over a decade. The company announced $135 to $145 billion in capital spending.
The sector had already sold off. Nasdaq dipped 0.2%. AMD rose just 1.7% to $516.79-nowhere near his $560 strike.
His $560 calls went from $8.16 to $0.04. That's a 99.5% loss in one trading day.
He posted the screenshot with the caption: "Susquehanna raised the price target yesterday."
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DAY P&L -$73,080.00 ▼ $73,440.00 (-99.51%) 1 Day 1H 4H 1D 1W ALL | ||||||||||||||||||||||||
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"Susquehanna raised the price target yesterday." Bought 90 AMD $560 weeklies the day after the worst tech selloff since June. Meta's earnings had rattled the sector. AMD rose just 1.7%. My calls went from $8.16 to four cents. Top comment: "Susquehanna also raised their target on your tuition payments."
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| Weekly options, explained simply: Weekly call options expire in days, not months. They are cheap because time is working against you at maximum speed. If the stock doesn't move in your direction fast, the option goes to zero. Buying far-OTM weeklies after a sector selloff is a coin flip with 99% of the downside. |
They did raise the price target. The stock went up. Just not $43 worth of up. That's kind of how markets work sometimes.
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Casualty #2: The Trading Bot Trusting Guy
This one isn't a bad trade. It's a bad app.
A Solana trader connected his wallet to BloomTrading, a Telegram-based trading bot used by 70,000 people. Automated trades. One-click execution. Copy-trading. All the features.
On October 26th, someone compromised the backend. Funds started moving out. 9,408 SOL disappeared from 49 wallets in minutes.
Our guy had 1,048 SOL in his connected wallet. Roughly $106,300. When he woke up, the balance was zero.
Here's the thing. The attacker only drained SOL. The USDC in the same wallet was untouched. Selective theft, which is somehow worse because it proves the attacker had time to choose.
The platform paused services and promised reimbursement to nine confirmed users. No payment schedule announced.
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SOL BALANCE -$106,300 ▼ DRAINED - 1,048 SOL 1H 4H 1D 1W ALL | ||||||||||||||||||||||||
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He gave a Telegram bot full wallet access because it had 70,000 users. As if popularity is a security audit.
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TODAY BY THE NUMBERS 📊
We track the data because the data is funnier than anything we could make up.
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The correlation between user count and security remains at zero.
Seventy thousand people gave a Telegram bot access to their wallets. A Solana trader bought twelve memecoins without winning once. A chip bull bought weekly calls the day after the sector's worst drop in five months. The numbers are always specific. The mistakes are always the same.
See you tomorrow. The numbers will be different. The behavior won't be.
