Market wisdom

I have been fortunate over the years. When I first became interested in the possibilities of investing in the stock market, I had a few good friends that offered to mentor me in the process. I looked at stocks traded on the NYSE and I looked at penny stocks. I even considered day trading penny stocks to see how that would go. My mentor with the most successful portfolio told me that he would never go into day trading because he was not smart enough to predict the short term winners. I decided that if he was not smart enough with all his experience, then I should also avoid day trading.