The Black Pterodactyl Event
Most investors are familiar with the idea of a Black Swan event.
A black swan is an unpredictable event that is beyond what is normally expected. Black Swan events are characterized by their extreme rarity, severe impact, and widespread insistence they were obvious in hindsight.
Black Swan events were discussed by Nassim Nicholas Taleb in his 2001 book ‘ Fooled By Randomness’, which…