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Rekenthaler Report

Marty Bannon’s Biggest Investment Mistake (and Mine)

Not realizing when to hire professional help.

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Bad Portfolio
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 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.