The Black Swan
This book is written by Nassim Nicholas Taleb. In the text, the term black swan assumes a new meaning: an event. It has nothing to do with birds. Black swans may be deemed improbable but may have far reaching implications. You will learn that experts are often dismissing black swans but sometimes they do happen. Taleb explains that our minds are meant to continuously deceive us. We are constantly placing too much emphasis on the fallacious thinking that history will always repeat itself.
According to the author, an unrepeatable event could be a better explanation of the unpredictable. You, no doubt, have never seen a black swan. Therefore, you are always expecting that any other swan would be white. You should always be ready for the unexpected.
The text shows the futility of spending too much money and time on predictions. The problem with predictions is that they are always based on previous occurrences or trends. However, something new happens all the time.
In the stock markets, it would be prudence to brace yourself for the unexpected. That way, you won’t suffer too much trauma when your investments go down the drain whenever markets go awry. This book will bring back to the realities of life.