The Covid shock has been extraordinary in so many ways. It clearly has been the most severe shock to the revenues of companies in almost all sectors and can truly be called a black swan event. Especially in the leisure and retail sectors, companies had to cope with revenue declines of 30% or more and struggled to survive. Thank goodness, government and central banks acted swiftly and decisively to help many of these companies survive.
Covid 19 is NOT a black swan event. This is according to Nassim Nicholas Taleb, author of the book, The Black Swan.
He, in fact, predicted in his book, that thanks to globalisation and increasing travel, the chances of a pandemic are extremely high.
The pandemic had also been predicted by Bill Gates and others, who said the world was completely unprepared for it.
https://www.newyorker.com/news/daily-comment/the-pandemic-isnt-a-black-swan-but-a-portent-of-a-more-fragile-global-system
Covid 19 is NOT a black swan event. This is according to Nassim Nicholas Taleb, author of the book, The Black Swan.
He, in fact, predicted in his book, that thanks to globalisation and increasing travel, the chances of a pandemic are extremely high.
The pandemic had also been predicted by Bill Gates and others, who said the world was completely unprepared for it.
https://www.newyorker.com/news/daily-comment/the-pandemic-isnt-a-black-swan-but-a-portent-of-a-more-fragile-global-system