The Black Swan is a 2007 best-selling book by Nassim Taleb, a Lebanese Wall Street trader. He describes black swans as unpredictable events that have massive impact, arguing that history is full of rare events that can't be predicted by trends. The book title was based on the fact that for a long time Europeans thought all swans were white until they found black ones in Australia.
A year after his book came out, house prices in the US crashed, taking down with it much of the global economy. Except for a handful of economists and some now-very-rich hedge fund managers, no one saw that coming.
Read more: Investors see black swan, but it's not the movie http://www.btimes.com.my/Current_News/BTIMES/articles/swanote/Article/#ixzz1FgW6k5I1
A year after his book came out, house prices in the US crashed, taking down with it much of the global economy. Except for a handful of economists and some now-very-rich hedge fund managers, no one saw that coming.
Read more: Investors see black swan, but it's not the movie http://www.btimes.com.my/Current_News/BTIMES/articles/swanote/Article/#ixzz1FgW6k5I1
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