Tag Archives: financial crisis
Black swan events are so fascinating that they are a common source of discussion in many risk management forums. The variety of perspectives coming from all directions never ceases to amaze.
To a risk manager, ‘black swan’ phenomena are highly unlikely events that have massive impacts on a business or society on the rare occasions they occur. It means that the event is unexpected, but is of huge consequence (Ferguson, 2014). There is no scientific way at present to predict black swan events reasonably and acceptably.