Yes, you'd have a better chance of accurately estimating the risk, and you would be in a position (control) to do something about it, trim the sails, fire the management, retain the management, whatever. Staying involved day to day has costs for sure, but Carnegie and others in the 19th Century seemed to model a way where they spent a half day on weekdays at best managing many, many businesses. It probably has a lot to do with whether you can motivate and retain good management to work for you.