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.

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 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…

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The Black Swan summary explains what a "black swan" is and how it affects us, why you can't explain the future with your past & what the ludic fallacy is.