A black swan is a metaphor for an event that comes as a surprise but has a huge impact on the market and is later rationalized. For example, the 2008 housing crisis was such an event. Now it’s clear why and how it happened, but only a few saw it coming in 2007. A positive black swan would be an even that is a surprise but has a huge positive impact.
Taleb’s view is that the world is far more random than what economic models tell us and that we should always be expecting the unexpected. On that note, we should also invest accordingly.One of my favorite authors is Nassim Taleb. I find his books The Black Swan and Antifragile mind blowing. I recommend reading The Black Swan.
Audible books link: https://www.amazon.com/Audible-Audiobooks/b?ie=UTF8&node=2402172011
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DISCLAIMER: My content is never Financial advice just offering my opinion. Feel free to start asking and upvoting questions.
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