lose your shirt meaning?

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What is the meaning of "to lose your shirt" idiom?
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Idiom Scenario 1:


Ned loves to gamble.  In fact, gambling is a problem for Ned.  He will gamble until he loses all his money.  One night, Ned has a few of his friends over for poker night.  He gambles and loses all the money he has with him.  After poker night, Ned's wife, Grace, asks Ned if he won any money at his poker night.  Ned responds...
"No, dear, in fact I lost my shirt!"
Ned needs to go on the wagon for gambling before it becomes a serious problem.
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Idiom Definition:


"to lose your shirt"
to lose all of your money
to lose the majority of your money or investments
 
Synonyms:
be cleaned out, be in arrears, be ruined, be taken to the cleaners, become insolvent, break, close, crash, default, dishonor, drop, end, finish, fold, go bankrupt, go belly up, go broke, go bust, go into Chapter 11, go out of business, go to the wall, go under, go up, lose big
 
 
This man has literally lost his shirt. - - - - ->  a man wearing pants and a jacket has a talk bubble over his head with a picture of a shirt in it.  Above the man's head there is also a question mark.




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Idiom Scenario 2:


James had been a hard working man.  He provided well for his family.  James had made some investments in, what appeared to be, some very good company stocks.  Unfortunately, the stock market crashed and...
"James lost his shirt."
In fact, James lost all his money when his investment went bad.  He then lost his job, his house, and his family.  James really lost his shirt!
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Idiom Usage:

Use this idiom wherever you wish to give the idea of a rather disastrous loss of money or possessions or investments.
 
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Gerund Form of the Idiom:

Losing your shirt is difficult to endure.
 
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Idiom Conjugations:

 
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