Day trading is alive and well. With dozens of online brokers offering stock-trading services -- often free of charge -- anyone with an internet connection can look to make a fortune by taking advantage of daily swings in the prices of stocks. But this investment strategy is risky: No one knows when shares of a company will rise or drop, sometimes for no reason related to its fundamentals. This factor (and others) makes day trading an unreliable strategy.
Instead, investors should focus on a proven method for generating wealth: Buying shares of great companies and holding them through thick and thin. Abbott Laboratories (NYSE:ABT) and Bristol Myers Squibb (NYSE:BMY) are two excellent candidates. Both of these healthcare companies boast strong lineups and solid growth prospects. Let's dig a little deeper into each company's respective business.