I don't think that 2008 housing crisis had any serious black swans around it, instead of bad planning caused by chasing the dollar.
The point of a black swan that there doesn't have to be a cause.
The point of a black swan that there doesn't have to be a cause.
That's the first I've heard that suggested.
It's a metaphor that describes an event that comes as a surprise, has a major effect, and is often inappropriately rationalized after the fact with the benefit of hindsight; based on a Latin expression which presumed that black swans did not exist which stopped being used that way in 1697 when people found actual black swans.