Forget about trying to time the market or finding the next Apple (AAPL) or Tesla (TSLA) to invest in. Instead, you can make money by simply copying the pros. That’s the advice of Tony Robbins, inspirational guru and author of Money Master the Game: 7 Steps to Financial Freedom. “Find the best in the world; figure out what they are doing and do that. Why reinvent the wheel?”  

Robbins tapped 50 of the brightest financial minds in the world including Warren Buffett, Carl Icahn, Paul Tudor Jones and Ray Dalio, asking each to simplify how they have succeeded in making money through bull and bear markets.  

Dalio, founder of BridgeWater Associates, runs the world’s biggest hedge fund with assets valued at $160 billion and is best known for predicting the financial crisis of 2008.

In his book, Robbins details Dalio's theory on portfolio rebalancing. “He figured out the average person trying to protect themselves puts 60% or 50% in stocks or 50% in bonds yet they got annihilated in 2008. Ray had to answer the question: Why? Because a balanced portfolio is not balanced. You're balancing what assets you put in, but you're not balancing risk. Stocks are three times more volatile than bonds.” Following Dalio's lead, Robbins says rebalancing can be done just once a year. “15 minutes a year is all it takes.”

This tip is one of many Robbins offers as an example of how complex investing can be slimmed down to simple steps that can work for millennials, baby boomers and everyone in between.

More From Yahoo Finance:

Markets under pressure 4 things to watch this week

Bull market needs no taming

Pressure mounting on OPEC nations to cut production