I know you’re speaking in general, and you are quite correct. You’re speaking as an investor.
But it should be pointed out that it is company specific what you own when you buy stock. Remember the roaring 90s? A lot of those dot-com companies were worth less than the paper their shares were printed on.
The stock market is, like everything else, caveat emptor. Investing is hard work. It demands a lot of time and serious research. If you’re not doing that, you’re not investing; you’re speculating.