Black Swan: A sudden major negative event or liquidity shortage caused by market manipulation or unknown reasons (some clues can be found afterward), leading to a large-scale liquidity squeeze. Black swans are indeed unpredictable, like the 10/11 event this year, which was hard to foresee in advance. But why were we lucky enough to avoid it? I think it still comes down to good luck, and behind that luck is a certain ability to anticipate market trends. Reviewing the similarities and differences of various black swan events.