He Spent $85,200 on a Solana Memecoin. It Is Now Worth $1,512.

In his most recent interview with The Economist, Elon Musk said that because of AI "money will be irrelevant by the year 2036."

I can see that happening too.

AI is already displacing millions of jobs.

One report says 40% of all jobs could be automated within the next decade.

When that happens, the government will have no choice but to pay people some sort of Universal Basic Income.

But this could take 20 years to materialize

So while Musk tweets and Congress holds hearings, what are you supposed to do? Wait?

I don't think so.

But you don't have to. Universal Income already exists.

It's not funded by robots or AI. It's funded by America's oil and gas infrastructure, and it pays 10% a year, 42 times a year, to everyone who holds units.

It's called the Patriot Income Plan, or P.I.P. for short.

And this year it's expected to pay a record $53 billion in distributions.

Think of it as your own personal sovereign wealth fund, backed by the biggest energy producer on planet earth.

Enroll in P.I.P. before the next payout

P.S. Since 2020, the average partnership in P.I.P. has produced 20% avg. annual gains. That's in addition to the 10% yield. One investor already collects $4,800 a month. Another hasn't worked in years. Show me something better. I'll wait. [Enroll in P.I.P. →]

LOSS OF THE DAY 🏆

Every day we crown one person who made the worst financial decision on the internet.

Today's winner didn't find the investment on a trading platform. He scanned a QR code on a stolen video game clip.

Here's the setup. In mid-August, an anonymous account called Cyberleek started posting stolen Grand Theft Auto VI gameplay footage on their own website. Every clip was watermarked with a QR code linking to a Solana memecoin called $CYBERLEEK.

The pitch: buy the token, vote on which leaks drop next, ride the hype. The higher the market cap, the bigger the spoilers.

It worked. $CYBERLEEK hit a $25 million market cap by August 23. The token peaked at $0.0344.

Our guy found it that day. He bought 2,520,000 tokens at an average of $0.0338. Total cost: $85,200.

He spent $85,200 on a memecoin created by an anonymous criminal leaking stolen video game footage.

No team page. No roadmap. No whitepaper. The entire value proposition was that a criminal would keep committing crimes.

Then Rockstar announced the official GTA VI Extended Look premiere. The narrative evaporated. Why buy leaks when the real thing is coming?

The Cyberleek wallet claimed $146,000 in creator fees, sold 15.4 million tokens in a single transaction, and exited with roughly $250,000.

The token dropped 98%. It now trades at $0.0006. His $85,200 is worth $1,512.

His portfolio is now a QR code to nowhere.

Not everybody can be Loss of the Day. But these two gave it a real shot.

Let's run through the tape.

There's a specific kind of pain that only earnings season delivers. It's the pain of being right about the numbers and wrong about the stock.

Cooper Companies reported Q3 earnings on September 9. EPS came in at $1.15, beating the $1.11 estimate. Revenue hit $1.07 billion, below the $1.10 billion consensus.

On paper, a beat. The stock dropped 15% the next morning.

One problem: the guidance. Management projected Q4 EPS of $1.05 to $1.09. Wall Street wanted $1.20. And the company confirmed it would not sell CooperSurgical, the division investors had been pricing in as a catalyst.

u/beat_the_street bought 1,500 shares at $76.10 the day before. The thesis: medical devices are defensive, valuation was cheap, earnings would be the spark.

COO opened at $54.66 on September 11, kept falling, and closed the week at $53.91.

His $114,150 position was worth $80,865. A $33,285 hole in six trading days.

The earnings beat. The stock didn't care. That's kind of the whole thing about guidance.

This one happened fast. Twenty-three minutes fast.

On September 2, rising oil prices and Treasury yields pushed Fed rate hike odds to 66%. Bitcoin ETFs posted $236 million in outflows. The crypto liquidation heatmap went red.

$368 million in liquidations. 90,090 traders wiped. u/eth_to_the_moon was one of them.

He'd opened a 20x long on ETH at $2,480 twenty-three minutes earlier. His thesis: the August breakout held, ETH was going to $3,000.

ETH dropped 2% on September 2. His $62,300 margin was gone by 9:23 AM.

His liquidation price was $2,366. ETH hit $2,359 at the bottom of the cascade. He missed surviving by $7.

The difference between keeping $62,300 and losing all of it was seven dollars. He told Reddit he's switching to spot.

We'll check back in three weeks.

Every newsletter needs a meme section. Ours just hits different when you're reading it from a portfolio that's down 98%.

u/beat_the_street's guide to earnings season

If you laughed, you're coping. If you didn't laugh, you're probably in the screenshots.

See you tomorrow. Same losses. Different people. Exact same mistakes.