In his 2005 best seller, “The Wisdom of Crowds,” author James Surowiecki argues for what he describes as a deceptively simple idea: Large groups of people are smarter than an elite few, no matter how brilliant those few may be. He also theorizes that the wisdom of crowds is better at solving problems, fostering innovation and coming to wise decisions — and this, I suspect, also is true when it comes to finding a coronavirus pandemic solution.
So, with the wisdom of crowds firmly in mind, today I need your help.
Today, I want to find out your views on this situation and what you think is the best approach when it comes to how society should deal with the coronavirus pandemic. Now, in the interest of full disclosure, the following survey questions were sent to me over the weekend by friend, colleague and Fast Money Alert co-editor, the always-brilliant Dr. Mark Skousen.
I found the questions so pitch perfect that I asked Mark if I could send them out to you for your response. He agreed and today’s issue was born. (Hey, it pays to have very smart friends in your inner circle!)
So, let’s get to this brief survey now.
Which of the following statements best describes your view of how to best deal with the coronavirus pandemic:
1) Hard Quarantine. This pandemic is serious enough to justify the government imposing an economic lockdown, closing schools, restaurants, gyms, concerts, conventions, travel and non-essential businesses.
2) The Middle Ground. This pandemic is serious, justifying the wearing of masks, social distancing, limitations on large gatherings, but without closing businesses, schools, restaurants and travel.
3) Laissez-Faire Position. This pandemic is not that serious, and should have been handled by individuals, institutions and businesses deciding for themselves how to respond without government mandates.
4) None of the above reflects my views.
Now, while I am tempted to share my answer to this survey, I am going to hold off on revealing my response until next week’s The Deep Woods. My reason is because this survey isn’t about me, it’s about you.
To send me your response, all you have to do is go to the special Coronavirus Pandemic Survey page on my website.
There, you can tell me your answer, and you can write any additional comments you have on the situation.
The way I see it, the more comments you have, the better, because if we are going to get a true sense of the wisdom of crowds, I need the most complete response you can give.
So, it’s up to you to speak out and tell me what you think.
Next week, I will report back to you the results of this survey, and I will share some of what I think are the most interesting responses.
Rest assured, all responses will be held in the strictest confidence, and no names will ever be revealed. You have my word on that — and if you know me, you know that there is nothing more sacred to me than my word.
The Wisdom of Erased
Maybe this isn’t the time or place
Maybe this is just time we waste
I just wish that I could see your face
For just one moment we could get back what took so little time to be
–Monte Montgomery, “Erased”
When it comes to guitar virtuosity, there is perhaps no one better than Monte Montgomery. He’s so good, in fact, that the Austin, Texas-based singer/songwriter was named one of the “Top 50 All-Time Greatest Guitar Players” by Guitar Player Magazine and won the “Best Acoustic Guitar Player” award at the Austin Chronicle’s Austin Music Awards seven years in a row.
You may know Montgomery’s work if you watch the TV show “Last Man Standing.” The show’s star, Tim Allen, tapped this unique talent to compose and perform the music for the show after Allen saw him performing on the great and highly recommended concert series broadcast, “Austin City Limits.”
In the lyrics from his song “Erased,” Montgomery reflects on the fleeting nature of love and loss, and how what can take a lifetime to build can also evaporate in an instant. Being mindful of this fact can help us do what’s required to preserve and protect those things we value most, lest they suddenly become erased.
Wisdom about money, investing and life can be found anywhere. If you have a good quote that you’d like me to share with your fellow readers, send it to me, along with any comments, questions and suggestions you have about my newsletters, seminars or anything else. Click here to ask Jim.
In the name of the best within us,