how many hrs/week of work needed to beat the S&P500?

[joker122]

I just read The Essential Buffett by Robert Hagstrom and it got me pretty excited. After studying not merely the investment strategies of Buffett, Graham, and other focus portfolio/value investors, but their underlying philosophies and tenets as well, it seems that anyone willing to do the analysis and follow the tenets can beat the historical S&P500 yeild of ~10%.

What the book never makes clear is just how much analysis is nessecary so gain the "full and clear understanding of a business" that Buffett and others demand before investing a single dollar into that business. And to be sure, a comprehensive understanding of a business is needed to determine the intrinsic value of the business, which is the essence of focus investing.

Does anyone have any idea how much dedication/time/effort needed to realize the superior returns that many focus investors have in the past? I mean I really have no ballpark whatsoever. Is it possible to do without working in finance/investing?

I have no background in business or finance. I am totally a liberal arts guy (English major, Philosophy minor). I have read three books on investing since I've become interested in the subject about a month ago so I have a modest yet not insignificant understanding of the market.

What it comes down to is this: I'm basically trying to decide weather to put a good deal of money that I currently hold into an index fund and watch it collect 10% for the next 30 years OR really do the work nessecary to see a 15-20% return. I just want to know approximately how much work that would be.

Thanks alot.