Sophisticated Investor

See: Alpha.

Warren Buffet is one. The guy who runs the trading division of Goldman Sachs is one. The guy who runs a large, or even small hedge fund is one.

Depends what you mean by "sophisticated," but most people...aren't. But they think they are...or rather, those who speculate in a retail Schwab account, putting a thousand dollars to work doing something with options...yeah, they're orthodontists and school teachers and gardeners, betting that they understand a complex market better than the traders at Goldman who make a million or two...a month.

If you believe you get what you pay for, that's talent that very few operators have, or can even buy. But the best of 'em is Buffet, and his advice for the lion's share of the world: buy index funds once, hold them forever, and go do what you do for a living. Forget about trying to beat the market, because most of the time...the market beats you.