What is Black Swan Event?

An unpredictable event that is beyond what is normally expected of a situation and has potentially severe consequences.

In-Depth Explanation

Black swan events are characterized by their extreme rarity, severe impact, and the widespread insistence that they were obvious in hindsight.

"The 2008 financial crisis and the 2020 COVID-19 pandemic are classic black swan events."

Knowing the terms is just the start. Learning how to apply them is where the edge is found.