Over the holidays, I had time to read a very interesting book that seems to directly relate the COVID-19 Pandemic chain of events. The Black Swan: The Impact of the Highly Improbable Event by Nassim Nicholas Taleb. Although the book discusses the black swan phenomenon in relation to investing, it seems to hit home when looking at the impact and rational that is surfacing around the COVID-19 Pandemic. The book focuses on three principal characteristics. The event is rare and unpredictable. It is an outlier so rare that even the possibility of such an event is not identified. The event produces a catastrophic impact. And finally, we create an explanation that makes it appear less random and more probable and eventually predictable. Interestingly, there are some positive Black Swans such as the impressive success of Google and Facebook. On the other hand, there is the tragic events of 9/11 which fits as a Black Swan. The COVID-19 pandemic that is taking its toll on individual families, entire generations, and the global economy also qualifies as a “Black Swan event."
Recent posts by Carroll Golden
2 min read
Topics: Extended Care Generations boomers
5 min read
The sales and marketing landscape has changed. Have you?
1 min read
(Video) The second session in a series of sessions from the Limited & Extended Care Planning Center. This session was live from the NAIFA Performance + Purpose Conference in 2019.
This session features speakers from LTCIPartners, Advanced Resources Marketing, and ASH Brokerage.