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Wisdom of the crowds


Wisdom of the crowds

Letter # 99 


From weight-judging competitions to finding a lost US submarine, the crowd seemed to have the right answers to all questions. That is… all questions except investing!

Collectively their ownership in the Indian markets has fallen from over 20% to 16% over the past two decades. But the past two years is another story altogether.

In our article in the ET today, we look at the sweeping disdain that prevailed for crowd behaviour in the 19th century, how a few experiments changed that through process in the 20th century and zoom into the 21st century where retail shareholders are starting to emerge as the smartest cohort in Indian equity markets. Read here:


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