Billionaires give you the best investment advice they know

Joe Jamail

They call Jamail "the King of Torts." He got the name by representing Penzoil in a lawsuit against Texaco in 1985. That trial alone earned him $335 million. Now, at age 86, he's into personal injury and malfeasance cases. In his career, he's made about $13 billion.

Best investing advice? "My dad told me, 'Don't buy any g-dd-mn stocks, OK?' He had a chain of grocery stores. He liked the cash coming in."

If he does buy stocks though... "I usually don't invest much in the market directly. I always look for price returns rather than income because I make enough f--king money out of this sue shop, my law office. Most of my stuff is in bonds."

Tidbit: His best investment was a law degree, and his worst was in airline stocks. Now, he suggests, if you have $1 million, hide it under your mattress.

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Photo by Business Insider Dec 20, 2011