Confusion in Insert Query syntax

Hi All,

If I type \h insert at psql it shows me,

INSERT INTO class_name [(attr1, ...attrN)]
VALUES (expr1,..exprN) |
SELECT [DISTINCT [ON attrN]]
expr1, ...exprN
[FROM from_clause]
[WHERE qual]
[GROUP BY group_list]
[HAVING having_clause]
[ { UNION [ALL] | INTERSECT | EXCEPT } SELECT ...];

But when I tried the following query it gave the parse error

INSERT INTO EffortTable (EffortID)
VALUES (ValueForEffortID) |
SELECT MAX(EffortID) AS ValueForEffortID
FROM EffortTable
WHERE ProjectID=200;

the error is --> ERROR: parser: parse error at or near "|"

What is the syntax I should use.

Thanx in advance,
Shad.