I've been investing in chứng khoán for eight years now, and the thing I still can't settle is whether buying individual stocks is worth the homework. Last year I spent maybe 60 hours reading earnings reports and industry news, and my portfolio edged out the VN-Index by roughly 2%. After tax and fees, that gap shrinks to almost nothing. Meanwhile a friend who just parks money in an index fund every month beat me over three years. Part of me thinks the research keeps me disciplined and stops me from panic-selling. But I can't honestly say the stock picking itself paid for the time. So: for someone with a day job, does picking individual stocks actually beat a boring index fund over 10 years, or are we all just paying tuition to feel clever?