I do the low cost index funds too, I have probably 7 or 8 in vanguard.
only individual stocks I have are for 2 companies I worked for, pretty cool investments as they're bought on discount but I agree with the above notion @1776 said, I don't have the time for individual company research. And I'd add that if I did have the time, I don't think I'd have the expertise to do the smart move based off that research. That pfizer scientist thing is a good example.
At this point I just dollar cost average into the mutual funds.