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Howard Gold’s No-Nonsense Investing: Steve Bannon’s father made 3 basic investing mistakes that are so avoidable

So, this is where it all came from? A $100,000 loss in AT&T stock?

The Wall Street Journal reported Wednesday that White House Chief Strategist Steve Bannon came to his nationalist/populist politics by watching what happened to his father during the financial crisis.

His dad, Marty Bannon, who worked for AT&T for 50 years, had accumulated a healthy portfolio of company stock T, +0.40% that became the nest egg for his retirement and a legacy for his five children.

But in October 2008, in the heat of the financial crisis, he sold all of his shares for $100,000 less, he reportedly told the Journal, than he’d paid for them.

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