10 Billionaires Best Investment Advice
5. Mikhail Prokhorov:
Mikhail Dmitrievitch Prokhorov is the third richest man of Russia and 32nd richest man in the world, according to 2011 rankings. He is known to lead a decadent lifestyle. He is the owner of the New Jersey Nets, a basketball team. After graduating from Moscow Finance Institute, Mikhail made his debut in the financial sector by working at the International Bank for Economic Cooperation. He became one of the Russia's leading industrialists while he was running Norilsk Nickel, largest producer of nickel and palladium. He started out by selling his 25 percent stake in Norilsk Nickel. This netted him $5 billion and 17 percent of aluminum maker United Co. Russia.
Best advice that he’s Ever got: “Keep your back straight and don't fidget” — a Russian proverb.
Economic indicators that influenced his investments – “German IFO data on business expectations are best on global manufacturing. U.S. conference board data are the top measure of American consumer confidence. Chinese PMI manufacturing data are good for china’s growth and exports. In emerging markets, inflation, budget deficit, production growth index and retail sales are key.”

