Last Tuesday’s Zero Hedge reported that both Buffett and Rickards think that “cyber wars could crash markets”. This is possible, but each great bubble since 1720 reached their gossamer limit and crashed. No outside event such as a “Black Swan” is required. The concept promoted by Prof Taleb considers that severe financial contractions are “random and unexpected”. All six of the great bubble collapses have had similar setups and similar collapses.
Perhaps, the notion of a “Black Swan” is a confession of inadequate research.