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White Swan Event Meaning

A white swan event is the opposite of a black swan: it describes a positive or predictable occurrence with far-reaching benefits. While black swan events are rare and unexpected, white swan events can be anticipated or at least conceived in advance, such as the successful rollout of a transformative technology or a widely available vaccine that ends a pandemic.

In financial markets, a white swan might trigger widespread gains, though such events are less discussed than their negative counterparts.

Recognising the possibility of white swan events encourages balanced risk assessments that include upside scenarios as well as downside risks.

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