Don't know how play the market sell-off? Mark Cuban says do nothing

Mark Cuban
Gabriel Grams | CNBC

Billionaire investor Mark Cuban is "doing nothing" about the market sell-off.

In his latest note to his "dusters"—a term for users of the Cyber Dust app that he advises and funds—Cuban revealed his investment strategy.

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"While all the selling seems to be based on China and the price of oil, I really don't know what the long term implications for our stock market is," he wrote on Thursday. "So I follow the number one rule of investing. When you don't know what to do. Do nothing."

Cuban added that he would alert his dusters when he found anything interesting.

Read Cuban's full message below: