21 best money tips ever
Some of the nation's leading business owners, investors, and thinkers share their thoughts on rebuilding your wealth.
13. Take a long view on the economy
Managing director of Pimco and the world's most influential bond fund manager
Best advice I can give: Most of Wall Street is focused on next month's numbers, but by taking a long-term view on economic statistics and investment fundamentals, you stand a better chance of not getting whipsawed by the volatile economy.
Best advice I ever got: Hanging on the walls of my office are three pictures: There's J.P. Morgan, who taught me that it's character, not assets, that counts most; Jesse Livermore [who made a fortune calling the market downturns of 1907 and 1929 -- but later lost it], who taught me that it is important to "know thyself"; and [financier] Bernard Baruch, who taught me that no matter what, "two and two will always equal four" -- and that no one has ever invented a way to get something for nothing.
NEXT: Listen to what this wise man has to say
