black swan events

Black Swan Events are rare, unpredictable incidents that have significant consequences. The term was popularized by Nassim Nicholas Taleb to describe events that are beyond the realm of normal expectations. They are typically surprising and often rationalized in hindsight, as if they could have been expected. Examples include financial crashes, natural disasters, or major political upheavals. The key characteristics of a Black Swan are its rarity, its extreme impact, and the widespread tendency to create explanations for its occurrence after the fact, even though it was unforeseeable beforehand.