Russell Goldsmith

58, chairman and CEO of City National Corp., parent of a $16 billion Los Angeles bank

"There are a lot of themes we preach, asset allocation, diversification, the selection of a strong manager, understanding your goals. This is an environment where you really figure out what your risk tolerance is. High-quality tax free bond portfolios are an important piece of mind element both for me and lot of our clients. A lot of people create the plan and portfolios but one should not be oblivious to changing circumstances and facts. You shouldn't be afraid to make some adjustments in light of events. There's more risk in this economy, more risk in this financial system. The world looks different today than it did thirty days ago. When things look bleakest it turns out to be the best time to invest. You want to be in some equities so when the economy recovers you benefit."