These are key items entering into my own personal decision-making process, and I advise my colleagues to purse the same path. It is consistently providential for us:
1. Study corporate filings until they feel very friendly, not daunting.
2. Understand the business model and be in agreement with concepts in play.
3. Look for at least five to seven CONSECUTIVE quarters of increasing profitability. Any deviations from this "norm" indicate the potential for weaknesses in the business model, the plan, contingency plans and vulnerability to business cycles, competition or credit availability.
4.Avoid stocks whose very nature is either foreign to you or downright distasteful. If you're a tech oriented individual, certain tech stocks may hold appeal. This matching is important because your passion will then be part of the process and you'll be anxious to devour any fresh information coming your way.
5. To remain viable in the market place, it's essential that the company in which you consider investment have sufficient resources to carry on even in difficult times.
6. Know the competition! Consider investing in two or three like companies, especially when you're on top of the learning curve and fully understand the company's plans and likelihood of reaching benchmark goals.
That should get you started! Good luck to you.
Len