You should not rush out and become an options trader. As the legendary investor Benjamin Graham advises, a little bit of knowledge can be a dangerous thing in the stock market.92 After all, any investor can do as well as the average investor with almost no effort. All he needs to do is buy an index fund that tracks the average of the S&P 500.93 In so doing he will come extremely close to replicating the average portfolio of every other trader, from Harvard MBAs to noise traders to George Soros’s hedge fund manager.
