What Does Black Swan Mean?
A Black Swan is an event or occurrence that varies from what is generally expected of a situation and which is be extremely difficult to predict. Black Swan Events were described by Nassim Nicholas Taleb in his book The Black Swan published in 2007. He is a finance professor and former Wall Street trader. He used "The Black Swan Theory" to explain the existence and occurrence of high-impact, hard-to-predict, and rare events that are beyond the realm of normal expectations.
Characteristics of a Black Swan Event:
Ten Principles for a Black Swan Robust World:
Taleb enumerates ten principles for building systems that are robust to Black Swan Events:
You can read more about Nassim Nicholas Taleb here.
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