Conventional wisdom says that when there's "a bug going around", such as the common cold, you can isolate and wait it out – it will eventually stop spreading through the community. To what degree is this common perception correct? To the extent it is correct, is this a highly localized example of herd immunity? If not, what's happening here?
I have done some looking around online, but unfortunately nothing meaningful came up in my searches; every article seemed more interested in large-scale and long-term applications of the concept.