It implies you can make a major leap toward becoming savvy just by acknowledging that you don't necessarily know what you're doing right out of the gate. If you make this leap, then it's time to turn to mutual funds. A mutual fund is nothing more than a professionally managed portfolio of securities. You buy and sell shares of that pot of assets. A fund's share price rises and falls as the prices of its underlying assets rise and fall.
Hybrids own equity and debt.
Open-end fund shares are purchased directly from the fund company, and also cashed in at the fund company. Closed-end funds have a set number of shares, which must be purchased via a broker at a commission. No-load funds mean you don't pay a special fee to either purchase or sell your shares. It's wise to always check. If you find a load, see if another fund company offers a comparable fund with no-load.