Black swan event

A black swan event, a phrase commonly used in the world of finance, is an extremely negative event or occurrence that is impossibly difficult to predict.

What is a Black Swan? A black swan is a rare and unpredictable event that is beyond what is normally expected of a situation and has potentially severe consequences.

A swan in Europe was a white swan. So, naturally, swans were thought of as only white by Europeans until news came from travelers to Australia in the late…

On March 11th, 2020, the World Health Organization declared COVID-19 as a global pandemic. The news was expected. The virus had spread from China to across the world at alarming rates. Global panic and concern set in due to this new coronavirus. It’s safe to say that COVID-19 is one of the defining events of the decade. In just a few months, this pandemic has had a significant impact on everyone around the world. In just a few weeks, brick-and-mortar businesses have undoubtedly felt the…

The central idea in the Black Swan is that: rare events cannot be estimated from empirical observation since they are rare. -Nassim Tale

A black swan is a highly improbable event that is unpredictable and carries a massive impact. It is only after the fact that we can develop an explanation for what happens that makes the event seem less random, and more predictable, than it was. The Books & Authors tab has 5 sections. See the Book Review section to learn more about this book and what Black Swan Events are.

What have the invention of the wheel, Pompeii, the Wall Street Crash, Harry Potter and the internet got in common? Why are all forecasters con-artists? What can Catherine the Great's lovers tell us about probability? And, why should you never run for a train or read a newspaper? This book is all ...

While a black swan event is innately unpredictable, there are things we can do today to prepare for the unforeseen.