GM. This is Dumb Money — the only financial newsletter with a 100% loss rate.
Today's theme: people who were absolutely certain they were right. They were not right. The market does not care about your conviction.
Three stories. Three different asset classes. One shared trait: ignoring every warning sign on the way down.
Here's what we've got today:
🏆 A fintech IPO buyer who averaged down six times. On margin.: $217,84
📉 Four NFTs bought for $74,500. Sold for $6,400. Two years later.: $68,100
⚡ A 30x BTC long after the Fed chair's speech. Liquidated overnight.: $41,300
🤣 Dumb memes from the trenches.
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| TODAY'S DAMAGE REPORT 📊 | |||||||||
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America’s New Money Explained
We believe Executive Order 14241 has unleashed a potentially huge change to America’s money.
Republican or Democrat – whether you support or oppose Trump’s New Dollar – you could soon be using it.
If you have savings in the bank or a stock portfolio, we believe you need to understand what’s unfolding – and take specific action to prepare.
In Porter Stansberry’s new documentary, you’ll discover:
How the last time America reset its money, it minted 1,300 new millionaires a day – and why we believe what's coming could be bigger still.
The 5 assets to own before America's new money rolls out – including the one Porter would buy today for immediate exposure.
The critical resources Trump is moving heaven and earth to control, because America’s new money depends on it.
Why the U.S. government is suddenly buying ownership stakes in tiny American mining companies – a move not seen since the depths of World War II.
Why a single gathering of world leaders this December – at Trump's own Miami resort – could be the moment America's new dollar is revealed to the world as a done deal.
LOSS OF THE DAY 🏆
Every day we crown one person who made the worst financial decision on the internet.
Today's winner didn't blow up on one bad trade. He blew up on seven of the same bad trade. Back to back. On margin.
Here's the setup. A fintech company called $FNPAY went public at $42. Buy-now-pay-later platform. The pitch: payments infrastructure for the AI economy.
The stock dipped to $38.50 on day three. Our guy saw opportunity. He bought 2,000 shares.
Then it dropped to $28. He bought more. Then $22. More. Then $16. More.
Seven separate buy orders over three weeks. Each one on margin. Total position: $253,000.
The company reported earnings. Beat on revenue. Beat on profit.
One problem: they cut full-year guidance by 8% because their biggest market went soft. The stock fell another 28% in a week.
He averaged down on a stock that was averaging down on itself.
His position is now worth $35,160. He is down $217,840. That is 86.1%.
His post title: "I'm not wrong, the market is wrong."
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TOTAL RETURN -$217,840.00 ▼ $253,000.00 (-86.10%) All Time 1D 1W 1M 3M ALL | ||||||||||||||||||||||||
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| Source: u/buythe_ipo_dip's seventh buy order confirmation |
"I'm not wrong, the market is wrong." Bought $FNPAY at $38.50. Then $28. Then $22. Then $16. Then $14. Then $12. Then $11. Seven buys. All on margin. The company beat earnings. It literally beat earnings. And I'm down 86%. The guidance cut was one line in a 47-page report. One line. And the stock dropped 28% over it. Top comment: "Brother, seven buy orders is not a strategy. It's a compulsion."
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| Quick explainer on averaging down with margin: When you buy a falling stock with borrowed money, you are paying interest on a position that is losing value. Every new buy increases your exposure and your margin requirement. If the stock keeps falling, you get a margin call — your broker demands you deposit more cash or collateral, and if you can't, starts selling your positions to cover the shortfall. Seven leveraged bets on the same falling asset is not diversification. It is concentration with extra debt. |
The margin interest alone is costing him $1,400 a month. On a position that loses value faster than the interest accrues.
He is still holding. His update this morning was one sentence: "Averaging down again at $11." Brother. The company told you. In a press release. On a call. With analysts. You are not smarter than the company and the analysts combined.
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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 NFT Art Collector
There are two types of people in 2026. People who forgot NFTs exist. And people who wish they could.
u/pixel_whale bought four NFTs from a collection called CryptoKingz in early 2024. Total cost: $74,500. The thesis: digital art is the future. Floor price only goes up.
The floor price did not only go up.
He held for two years. The collection lost 91% of its value.
The Discord went from 14,000 members to 340. The founders pivoted to a "metaverse restaurant concept" that never launched.
He sold all four this week. Total proceeds: $6,400. Net loss: $68,100.
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TOTAL RETURN -$68,100.00 ▼ $74,500.00 (-91.41%) All Time 1M 3M 6M 1Y ALL | ||||||||||||||||||||||||
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| Source: u/pixel_whale's OpenSea transaction history |
"finally free" Sold my entire CryptoKingz collection today. Bought 4 for $74,500 in 2024. Sold all 4 for $6,400. Held through the floor collapse, the Discord exodus, and the metaverse restaurant pivot. I am free. Top comment: "At least the JPEG is nice." It is not. It is a cartoon monkey in a cowboy hat.
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| For non-NFT people: "Floor price" is the cheapest you can buy any NFT in a collection. When the floor drops, everybody holding that collection is underwater. It is like watching the value of your house fall, except your house is a JPEG and the neighborhood is a Discord server that now has 340 members. |
Casualty #2: The Fed Whisperer
This one hurts because the thesis was almost smart. Almost.
u/rates_r_destiny watched the Fed Chair deliver a hawkish speech at Jackson Hole on Friday. His read: hawkish tone already priced in, BTC bounces, easy money.
He opened a 30x long on BTC at $73,200. The plan: ride the Sunday night bounce.
Here's the thing. BTC didn't bounce. It sold off 3% over the weekend.
He was liquidated at $70,760. Fourteen minutes after he tweeted "long the dip."
Total loss: $41,300. The tweet is still up.
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He is now replying to his own tweet with "the thesis was right, the timing was wrong." The timing is the trade. That's the whole thing.
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DUMB MEMES 🤣
Every newsletter needs a meme section. Ours just hits different when you're reading it from a portfolio that's down 86%.
u/buythe_ipo_dip's seven-step investment process | |
u/rates_r_destiny's Friday night in five steps |
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.
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