Definition
An unpredictable, rare event with extreme impact that seems obvious only in hindsight. Named after the discovery that black swans exist—contradicting the assumption that all swans were white—and now the go-to excuse for every financial catastrophe.
Example Usage
The CFO blamed the portfolio's collapse on a black swan event, conveniently ignoring that their risk models assumed nothing bad could ever happen.
Origin
Popularized by Nassim Taleb's 2007 book, though the metaphor dates to ancient Roman expression for impossibility.
Fun Fact
The term is so overused that many supposed 'black swans' are actually predictable 'gray rhinos'—obvious threats that everyone ignores.
Source: Risk management theory
Related Terms
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See “black swan” in Corporate Speak, Gen-Z Slang, Pirate Speak, and more.
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