Slang for an unsophisticated investor who loses all of his or her wealth by trading equities in the stock market.
Being labeled a barefoot pilgrim is far from enviable. It is usually the result of taking on more risk than necessary or entering investments carelessly, without doing the proper research.
A slang term for an unsophisticated investor who has lost everything on the stock market. Not to be confused with Barefoot Investor. Bloomberg Financial Dictionary