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Porter's Journal Issue #126, Volume #2
Porter Stansberry
October 31, 2025
Fraud, Credit Collapse Signal Coming Market Collapse
Critical Market Update: The Rarest And Most Dangerous Economic Anomaly Is Occurring
We’re seeing credit stress in cohorts that still have jobs. That’s new. Usually, you lose the job first.”
– JPMorgan Chase (JPM) 3Q earnings call
This is Porter’s Daily Journal, a free e-letter from Porter & Co. that provides unfiltered insights on markets, the economy, and life to help readers become better investors. It includes weekday editions and two weekend editions… and is free to all subscribers.
A “shorting” environment… The credit market is cracking… Defaults before job losses… Big fraud at big firms… Big news for The Big Secret… Hershey announces earnings… Big Tech starts to borrow… |
Table of Contents
On Wednesday, I made $82,900 in a single trade, in about three days.
It wasn’t my best trade of the year. But it was the only major short trade I’ve made in the last 10 years.
I put over $1 million short a single stock. That is, I bet more than $1 million that the share price of a business would fall. As you might imagine, I didn’t take the position lightly. I knew the company was about to collapse.
I virtually never short stocks. That’s because, in an inflationary, paper-money economy, the nominal prices of just about everything always goes up. And you can only make money shorting stocks when nominal prices go down.
However, there is one kind of an economic environment that will cause plummeting nominal prices – especially in financial assets. Inflationary environments sometimes lead to sudden, deflationary crashes. They are rare. And they are caused by fraud.
And that’s what’s happening right now.