Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited.

Does reading financial statements (quarterly or annual reports) really help investing?
I agree with @STATMATT.  Financial statements are the only thing that Warren Buffett & Charlie Munger read. To answer your question though, really depends on what type of investor you are and what information are you trying to extract.   It is essential for the Buffett style (buy & hold).  But if you are a short term or technical investor then I don't see it being of much value.