Risk scenarios for the markets.
(Photo: Bloomberg)
Frankfurt The financial markets are currently exposed to a particularly large number of risks: the Ukraine war, fears of a shortage in the supply of raw materials, the interest rate turnaround. For investors, this begs the question: are there other highly dangerous risks that are unknown, that we don’t even suspect?
In this context, the term “black swans” is also used, because these birds were previously unknown in Europe. The term was applied, for example, to the terrorist attacks in 2001 and the great financial crisis, and the outbreak of Corona may have come as a huge surprise to many people.
Black swans are, by definition, unpredictable. The US wealth manager State Street Global Advisors, which manages more than four trillion dollars, deals with “grey swans”. They stand for dangers that are known at least in outline, but are difficult to assess in detail.
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