Thanks for the fine answers. I am glad to see Mutual Funds are given the same 15% treatment.
Why do I say they are not as subject to the whims of the market? Perhaps I should have been more clear. As Mr. Collins explains it, if you hold a few particular stocks, they can go up up up or down down down. In fact, as I understood his explanation particular stocks are more subject to whatever drives stocks up and down than the mutual funds which hold a piece of the entire market. As he explains it, there are always winners and losers. If you pick a stock and it's a winner, chances are it will not always be a winner. If you pick a stock and it is a loser, it may not always be a loser. Buying into the stock market as a whole replaces the possible losers with other stocks that will replace them. The entire market may be less subject to "animal spirits." I'm pretty well sold on the fact that index funds are a good idea as they are not subject to the all of the vicissitudes of the market. I refer to the forces that have more likelihood of acting on a particular stock.
I do not really like financial stuff and just want to make a decent return. As I told an advisor a few months ago, I just want to put the money there and let it sit. I want it to make money for me that I can "live." Having to tinker with buying and selling stocks looks like more of a chore than a satisfying endeavor.
You guys are great!