Related to the previous idea, since the efficient market hypothesis is rarely wrong, it means that if you find a very little-known important fact or idea about a company or sports event, it barely hurts to be ignorant about all the other facts pertaining to them. If your info points to a good bet, you will rarely regret that ignorance since the other aspects will almost always be properly baked into the price or point spread.
No further explanation needed. All comments welcome.
I agree that the more reliable information that you have, the more likely you will make the best decisions.
There is some tradeoff if you are considering buying a stock that you think is currently undervalued – if your research could take a long time, then you may miss your opportunity.