First thing every morning, Dave Williams scours the news for any mention of the hundred or so stocks in Excelsior Value & Restructuring, the mutual fund he has managed for 15 years. He spends the next few hours talking to financial analysts and brokers and calling company executives. "I like to compare notes and find out if these companies are making progress and doing what their managements said they were going to do," says Williams, whose fund is a member of the Kiplinger 25.

If you don't follow stocks for a living, you probably don't have the luxury (or connections) to be as vigilant as Williams when it comes to tracking your investments. Still, there are plenty of online resources that can help you stay abreast of news that might affect a company whose shares you own, and allow you to monitor its financial health and evaluate the stock's performance. Remarkably, many of these resources are available at little or no cost.

Consider these five broad areas in which the Web can make you a more informed shareholder.

Step 1: Set Up Your Portfolio

Step 2: Get a Sense of History

Step 3: Go to the Source

Step 4: Find an Expert Opinion

Step 5: Become an Active Participant

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