Marty Bannon’s Biggest Investment Mistake (and Mine)
Not realizing when to hire professional help.
Thanks to those who have sent me stories of your greatest investment mistake, as I requested last week. (If you have not yet done so, I can be found at firstname.lastname@example.org.) The tales will appear in upcoming columns.
Today’s account, however, was not a submission. Rather, it was supplied by Wednesday’s The Wall Street Journal. In October 2008, as stocks languished near their 20-year bottom, Marty Bannon—the father of White House Chief Strategist Steve Bannon—sold his entire stock portfolio. This, we can surely agree, was an investment whopper.
John Rekenthaler has a position in the following securities mentioned above: MORN. Find out about Morningstar’s editorial policies.