Hey,
Was there a time where you received a present from someone that changed your life forever?
After receiving the unexpected gift, you are shocked, not sure how to deal with it.
An item that is out of your expectation
Everyone hope such incident would not happen so there is less heart attacks to deal with.
Surprise ‘attack’ also do happen in the financial market and they are called:
Black Swan Events
Past black swan events like the
1997 Asian Crisis,
2001 Dot Com Bubble,
2008 Housing Debt Crisis In the USA
2009 European Sovereign Debt Crisis
And many many other examples you can find on the web.
Black Swan Theory is a latin expression, in the 2nd-century by Roman poet Juvenal
"rara avis in terris nigroque simillima cygno"
Translates to "a rare bird in the lands and very much like a black swan".
Black swans was so rare that it did not exist back in the days.
It’s a metaphor used for a sudden collapse due to the flaws in the current system of any thought.
In 2007, Nassim Nicholas Taleb published a
book
Entitled "The Black Swan: The Impact of Highly Improbable"
Which explained and formalized the Black Swan theory.
- A Black Swan is an outlier. It is beyond expectations and as a result, nothing could have
predicted it.
- It carries a significant impact.
- It will have a rational explanation concocted after its first occurrence, making that type of event explainable and predictable.
Should we be facing an event like this in the near
future,
It’s not a matter of ‘How’ it’s gonna happen but ‘When’ it’s going to happen.
Till then, are you going to prepare yourself for
the black event to come….
Or waiting for a hero to save your day?
What's their benefits to us in terms of our long term wealth and multiple sources of
income creations?
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