Dad Trade
A dumb gamble or series of dumb gambles where everything depends on some stupid event happening. The event happens, but everything still loses money. It's like when your friend's dad talks about his investing like he's a genius, but he ends up broke.
My dad bet all his savings on a horse named 'Big Bob' and it fell over.
Dad said he'd make a million dollars if the stock market went up. It went up. He lost money.
He promised me a PlayStation if he made money on his trades. He didn't. I got a used phone.