I do believe in index funds and that is why I haven't bought an individual stock in over 10 years. However, one of my friends talked me into it on March 14th. It was the last day of snowboarding for the year. We were both worried that fun was being cancelled. We were brainstorming on ideas for fun that we could do virtually. He pressed me hard to buy individual stocks as a game ($1,000 to $2,000). I agreed, but mostly as an activity to bond with my friend.
On March 14th, I agreed to buy stock in Southwest Airlines (LUV), which was a Saturday. It closed at $41.28 on Friday, March 13th. In April my friend asked when I was going to buy. I told him that I was waiting for the country to get a little more pessimistic. Once it dropped below $30, my friend wanted to buy, but I told him that I was holding out for $25.
On Thursday, May 14th at 10:00 a.m., I bought 100 shares at $23.05. My friend got 25 shares at $23.00. The current 52-week low was $22.47 on Thursday, May 14th around 10:15 a.m. It looks like we were within 15 minutes and 2.6% of buying at the absolute bottom.
On May 27th, 9 trading days later, LUV stock is currently at $33.25. I'm up 44.2%.
I'm not saying that I can replicate this again. However, I feel like I haven't shot a basketball in over 10 years and just made a 3/4 court shot on the first try.
My current holdings within individual stocks is less than 1% of my total net worth, of which I am comfortable.