Who is the most novice investor I refer to in my prior post?

My dad. He is about 75 and a retired professor. He has gambled invested in Chinese stock markets for a long time but I do not think that he made any money from this effort. Throughout 2011, I strongly urged him not to invest in stocks but put money in the highest interest yielding saving instrument he could find or Chinese T bond. Since I have not been back to mainland Chinese for almost six years now, it is difficult for me to check his actions. But I did learn that he is not heeding my advice even if I have been trying all the means to rein him in. When I finally met him this last December, he has lost a decent sum this year, instead of making money if he has followed my advice. It made me realize how biased human behavior could be. Even though it does not mean you can necessarily make money from market inefficiency, the markets are surely not efficient, to the smarter minds!