I've tracked my stock portfolio returns against the S&P 500 for the last five years, and my active picks have basically matched the index after fees. Yet I still spend hours each week reading earnings reports and analyst calls. Does individual stock picking ever genuinely beat the market for a non-professional over the long run, or is it just an expensive hobby? My gut says no, given that most funds underperform, but I've met people who swear by their concentrated bets on tech giants.