DAY-TRADING may seem like a good way to make money, but it's really gambling, not investing - and often just as effective as buying an armload of Powerball tickets.
Successful long-term investors study businesses, carefully select stocks and aim to hold on for years. They consider themselves, rightly, as part-owners of real businesses. Day-traders, meanwhile, tend to spend hours glued to monitors, watching stock-price graphs and placing orders. They'll typically place scores of orders each day and hold each stock for a few minutes or hours. Many ignore company fundamentals and may not even know what various companies do.