Here's your Forbes Daily Briefing for Monday, July 28th.

Today on Forbes, Why this billionaire doesn't own a single stock or bond.

On an average weekday morning at 5 a.m., home-building billionaire Pat Neal starts

readying himself for work while mulling over the stock and bond markets.

He says, quote, thought processes usually begin in the shower and are completed by 8 in the morning.

He also says he asks himself, quote, what is the 10-year T-bill going to do today?

But Neil doesn't hold any T-bills, that is, treasury bills.

In fact, he doesn't own any bonds at all, or any public stocks.

He follows those markets to predict how their activities will impact the spending patterns

of homebuyers.

As for himself, though, nearly all of his $1.2 billion fortune is parked in his home-building

company, Neil Communities, which has put up

25,000 houses all in Florida.

Neil, who is 76 years old, has been reinvesting in the business since founding it in 1970.

He explains, quote, I like controlling my own future.

I don't live in expensive lifestyle, and my retirement is my business.

We don't need retirement funds because we're not going to retire.

When Neil, who pays himself a $150,000 salary, requires additional cash, he sells undeveloped home lots.

He owns about 26,000, some in joint ventures or with his sons,

and estimates their average value at $50,000 to $150,000 apiece. Neal's earliest forays into

investing were more diversified. The former Florida State Senator learned myriad ways to make a buck

while growing up in Des Moines, Iowa in the

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