Right, he's saying don't trade individual stocks, buy indexes instead. I fully subscribe to this view, unless the individual is trading for a living (putting in many hours), and has enough capital that they aren't wiping out their gains (relative to the index) with trading costs and the opportunity cost of their time. IMO, you can read all the investment material that you like, but if you have access to the same information as the market then you wont outperform the market on a gross basis, and if you have lesser scale than professional traders then you will under-perform it on a net basis (after costs).