AI is disruptive. Individual companies have never been more volatile. What’s the argument to not just buy indexes?

Looking at the price trend, indexes have been the most stable in this AI bull market. However investing in individual companies can make you lose your pants because AI is so disruptive. MSFT was like $470 three weeks ago and have now crashed (again) 20% in just three weeks. You could have also made lot of money if you invested in chips, memory and cpu companies .

My point is individual companies are going to continue to see wild swings. This is not a normal bull market. Many companies will get purged and there will be many new winners. But volatility will remain constant.

So why not just stick with indexes? They have been steadily going up and are at their all time highs. Qqq and IWM are up 20% YTD. VTI and VOO around 10% . They are solid returns.

Unless you are looking for 100% or more returns , it doesn’t make sense to pick winners and losers in this market imo