Black Swans - The impact of the highly improbable
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Black Swan
An event or occurrence that deviates beyond what is normally expected of a situation and that would be extremely difficult to predict. (Totally predictable in hindsight)
Resilient
Something that endures despite disorder
Antifragile
Something that gains from disorder
Fragile
Something that gains from stability
Green Lumber Fallacy
Understanding risk is more important than understanding the product