The internet has represented an unprecedented expansion of information available to investors. Traditionally, an investor would meet with their broker, perhaps get copies of that firms analysis of a company and rely on the professional advice that was part of their relationship with their advisor. You have probably surfed dozens of sites and found numerous sources of information on the 'net.
Information comes in two forms.
Company XYZ declares a 10 cent per share earnings for the 1st Quarter. This is an increase of 4 cents per share over the same quarter in the previous year. This news can be positive or negative depending on the reasons for the increase. Understanding a financial statement should be a part of your investment knowledge as it is a primary source of information of the company you are considering as an investment. However, what I think is a more important area to focus on is the area of opinion.