With that said there's something that does scare me about investing in individual companies. That fear is highlighted in this yahoo article.
Yes the idea that some asshole(s) could just abscond with millions of dollars of a company's cash is a very serious situation for an owner. As much as we read and try to learn about an individual company, this type of craziness is never truly gone. Even CEO's can have a hard time trying to keep with up with some of these large corporations that are scattered all over the globe now.
If I can scare you more I'd suggest that you watch the movie Rogue Trader. Here's a situation where one person half way around the world in a seemingly insignificant position can destroy a 200+ year old financial institution. It's a prime reason why I don't like to invest in financial companies regardless of how boring and "solid" they say they are. You just never know and some times they don't either.
With that said it's also a big reason why almost everybody needs to invest in ETF (Exchange Traded Funds). As least the only thing that you need to worry about then is valuation.