
Are crowds really all that wise? - blasdel
http://nonbovine-ruminations.blogspot.com/2009/08/are-crowds-really-all-that-wise.html
======
billswift
You might try actually reading Surowiecki's "Wisdom of Crowds". Once you get
past all the hype and glosses on the book, and the book's introduction, you
will find that the "wisdom" of crowds is restricted and only functions under
particular conditions that rarely hold in the real world. But when they do
hold "crowds" actually do function well.

Wikipedia does not satisfy those conditions. It seems to be mostly accurate
for non-controversial technical information, but I wouldn't trust it much on
anything.

------
envitar
Probably not. Herd behaviour is not necessarily wise, mostly to the contrary.
Buffett wasn't successful because he followed the crowd but the opposite.The
"madness of crowds" is well documented. Wisdom of crowds? No thanks.

