Buffett, Icahn, Soros. When it comes to successful investors, these three are the gold standard. Midas had nothing on these self-made billionaires. Instead of a golden touch, these financial wizards deploy investment-specific strategies—some might call them ‘secrets’—that their track records and their multibillion-dollar bottom lines prove works. You can put these same strategies to work for you.

Secret #1: Take Charge

Carl Icahn, for example, is known for controlling his own destiny by taking a controlling interest in his investment targets; When you own anywhere from 5 percent to 20 percent or more of an enterprise, management reports to you. 

History shows us Icahn is famously not shy about making his positions known in the companies he invests in. But, Icahn’s returns are equally famous. Savvy investors not only see the potential in their investments, they make it happen by having the leverage to get things done their way.

Secret #2: Mind Your Own Business

One of the most effective ways to quickly gain control is via private equity—a strategy Mitt Romney, his investment partners, and other uber-wealthy folks are familiar with. This tactic is also familiar to the money managers at some of the world’s most successful endowments, such as Yale and Stanford universities. Between 1973 and 2013, Yale’s private equity investments averaged about 30 percent per year—nearly triple returns of monies invested in the Standard & Poor (S&P) 500 for the same period.

Secret #3: Net Results

“It’s not whether you’re right or wrong, that’s important, but how much money you make when you’re right and how much you lose when you’re wrong,” George Soros explained in 2010. That strategy inherently recognizes everyone has winners and losers in their portfolio. Savvy investors, though, let their winners ‘run’ while pulling the plug on their losers as quickly as possible. 

Secret #4: Investor, Know Thyself

Pruning the clunkers while nurturing your winners is part and parcel of constantly rebalancing your portfolio.

Warren Buffet, while famous for investing in the basics—fundamental commodities and services people want and he completely understands—lets them blossom in his portfolio over time.

Still, he no doubt routinely takes stock of his stocks and other investments to ensure he’s meeting his goals while steering clear of shifting market conditions or other obstacles that might interfere with achieving them. Understand your investing goals, your strengths, and your weaknesses. Then, follow through by fine-tuning your holdings over time.