Russell Simmons: I'll take risks when it comes to new ventures, because I'm comfortable banking on myself. But when it comes to my actual investment portfolio, I play it very close to the vest. The plan laid out by my friend and adviser Tracy Maitland isn't designed to make me any richer, but to protect the little bit of wealth I have. Specifically, I've put most of my holds in AAA convertible bonds, which are a pretty safe choice. They may not be as fruitful as real estate or stocks, but at least I know they're not going to lose any money. That's my personal philosophy.
