How much time you spend on researching stocks is directly proportional to how many stocks you own. It takes a few hours a year to keep up with each one. This includes reading the annuals and the quarterlies, and calling the companies for periodic updates. An individual with five stocks can do this work as a hobby. A fund manager of a small- to medium-sized fund can do it as a nine-to-five job. In a larger fund, you’re looking at a 60- to 80-hour week.
