Word: swanning
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...world should have learned anything from the worst economic downturn since 1945, it is to heed those who warn that danger is ahead - and to listen to those who argue that it is precisely the least expected catastrophe (a "black swan," as they are now known after Nassim Nicholas Taleb's 2007 book of that name) that can do the most damage. That does not mean we should all live, risk averse, cowering in a cave of our own making. It does mean that it behooves us to listen to those who, based on knowledge and insight, warn...
...market.“Trailblazers are always at a little bit more risk than the settlers that follow,” said Vanderbilt associate controller Kevin R. Walker, who called criticism of Harvard’s December debt issuance unfair and said the current economic crisis is a black swan. “There was tremendous uncertainty [in the fall] with Bear Stearns, Lehman Brothers, and AIG, and I don’t think anybody knew what was going to happen.”John F. Flahive, a vice president at BNY Mellon Wealth Management, which purchased $10 million...
...Like many facilities at Harvard, the House system was a gift. Unsurprisingly, it was a gift from a wealthy white man. Surprisingly, this particular man was a Yalie named Edward Stephen Harkness. With millions from his shares in the Rockefellers’ golden swan, Standard Oil, Harkness was a philanthropic plutocrat in the tradition of Carnegie, Mellon, and Rockefeller himself. After being rebuffed by Yale, Harkness came to University President A. Lawrence Lowell in the fall of 1928, offering over $3 million to build a residential college system that would “bring into each group men from different...
...This is not a mere logic game. If there is a single "big idea" to have emerged in the first decade of the new millennium - from the September 11 attacks to the financial crash - it is the notion of the "black swan," the danger posed by difficult to predict, high-impact events. The short history of nuclear weapons is already scattered with unplanned and seemingly improbable incidents that suggest we feel more secure than we should. In 1995, a communication failure with the Russian Embassy led the Russian military to believe that a weather rocket launched off the coast...
...Watch a TIME video on the annual Swan Upping...