Well, when you’re out competing, and you’re trying to beat the market, you’ve got to understand you’re out competing to beat the smartest people that are in the market because they’re the ones that are setting the prices. So you’re taking on … half the trades that you will do on the stock exchange are against hedge funds. They’re very well-paid, carefully chosen people. They are really playing hardball.

And very hard to beat them, because they know so much and they’re so skillful. And that’s the problem with individuals investing. You may be very good compared to your neighbor. That’s not the question. Are you very good compared to those that control the market and are the dominant players in the market? And very, very few people are anywhere near that good.