Fair. But I meant that as an example - by research I was thinking of looking in depth at the drug and where it is in the pipeline, what it treats / the market the drug might enter, how promising its research looks, how similar drugs/analogues faired in FDA trials, etc. I wouldn't suggest someone with a poor background in chemistry or pharmaceuticals to try doing that - I think if you're looking at riskier companies, you should mostly only invest in what you know.