This is How Smart People Think.

ISRAEL HAS REACHED HERD IMMUNITY - BBC
Israel has once again shown countries how clever leaders think in the 2nd and 3rd order (thinking beyond the obvious).

Last week Israel became the first country to inoculate its entire adult population over age 18. Yesterday, all schools and colleges were opened and mask requirements were removed all across the country (barring a few congested public places).

Here's how this remarkable country did it.

Israel's leaders are all well educated and many of them have advanced degrees in science and medicine. Their PM graduated at the top of his class at MIT, and started (but didn't finish) a PhD at Harvard.

They realized at the onset of the pandemic last year that the only way to beat a virus was through herd immunity, and that vaccination was key to expediting this process. They immediately zeroed in the two companies that were ahead of the pack in vaccine development--Pfizer and Moderna. The
Israeli PM immediately developed a personal friendship with the CEOs of these companies (using his Harvard and MIT connections).

As soon as Pfizer announced successful Phase 3 trials Israel made a deal with Pfizer to pick up their first 8 million doses for twice the price ($30 per dose) of what Pfizer was eventually aiming to sell the vaccine. Israel also agreed to provide Pfizer with data on the efficacy of the vaccine on its population. By November 2020, Israel had already acquired the vaccines it required to immunize its people.

The Israeli PM was asked two weeks ago why they agreed to pay $15 per dose extra, and his response was classic 2nd order thinking. He said that, just in pure economic numbers, the total amount they overpaid was a miniscule fraction of what it costs to lockdown the country. This is not counting the extra medical costs of Covid and the incalculable price of losing a loved one. The economic loss from just three days of lockdown was more than the overpayment for all the vaccines they bought.

This is how smart people think.

Same way, smart traders do not worry for the cost of the subscription for the financial advice as they know that their cost of error of judgement can be multifold times and this is the reason we have Best Bank Nifty Option tips for which traders queue up to enter in our advisory services as at times we close this service to make sure that only requisite number of traders are allowed this service.