The financial black swan is a term coined by Nassim Nicholas Taleb to refer to unexpected events that can have a major impact on the markets. These events are typically rare and difficult to predict, but they can have significant consequences for investors and financial institutions. For example, the 2008 global financial crisis was considered a black swan event, as it was unforeseen and had far-reaching effects on the markets.

There have been several other examples of black swan events in recent years. The COVID-19 pandemic, which began in early 2020, was another black swan event that had a major impact on the markets. The oil price crash in 2014 was also considered a black swan, as it was unexpected and had significant consequences for the global economy.

To protect yourself against the potential impact of black swan events, there are several steps you can take. First, it is important to diversify your investments across different asset classes, industries, and geographic regions. This can help to reduce the impact of a single event on your portfolio. Second, you can consider purchasing insurance to protect yourself against potential losses. Third, you can make use of stop-loss orders to limit the potential downside of your investments. By following these steps, you can help to mitigate the potential impact of black swan events on your financial well-being.