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MRM,
Though I agree with your final conclusion and respect your opinion very much, I don't think individual investors are competing with your cousin at all. They might be on the same field, but they are playing two wildly different games. I'd actually argue that small investors benefit from his actions. If he is improving price .01% he has to do 100's or 1000's of options to make any money. This creates A) tight markets, and B) Highly liquid markets for individuals.
In regards to the OP's question on books, I usually tend to turn away from any book that claims a "Get Rich" method. The book I was forced to read and understand before I was allowed to trade was Sheldon Natenburg's "Option Volatility and Pricing." Not a fun read, but an educational one.
If you are looking for a get rich quick method with options, you'd probably do as well going to Vegas and putting it all on red or black. With the added advantage that you wouldn't have to read any books.
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"The reason most people give up is because they look at how far they have to go, not how far they have come." -Bruce Anderson via FB
-Marine Blue '87 930
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