Here’s a definition that should send chills down the spines of investors: “An unpredictable or unforeseen event, typically one with extreme consequences.” This sums up a black swan event. Nassim Nicholas Taleb mainstreamed the concept through his writings. His points became particularly topical through his book, The Black Swan, around the time of the financial crisis — a major, destructive event that many people found unexpected and, beforehand, maybe even impossible.
There’s a similar risk brewing on the horizon. Climate change could be the next black swan event that causes an ugly ripple effect through our lives and economies. The majority of current investment strategy comes up short on modeling, even considering that this as a legitimate concern, at least for our lifetimes.
Here’s a lesson in extreme irony: The term originated when people didn’t believe black swans existed at all. Because no one had ever seen one, it certainly looked as if Read more…
WELLINGTON, New Zealand — Strong earthquakes shook central New Zealand on Friday, damaging homes and roads and sending office workers scrambling for cover in the capital. No serious injuries were reported.
A magnitude-6.5 temblor struck just after 2:30 p.m. near the small South Island town of Seddon, and at least six aftershocks were 5.0 magnitude or stronger.
Several homes near the epicenter were severely damaged, with chimneys collapsing and roofs caving in, said police spokeswoman Barbara Dunn. She said a bridge was severely damaged on the main highway near Seddon, and that rocks and debris had fallen onto the road. Police closed a section of the highway.
Some buildings in Wellington, the capital, were evacuated, and items were knocked off shelves in places.
Police said a number of people were freed from Wellington elevators that stopped working. The initial temblor also forced the nation’s stock exchange to close for more than an hour.
Wellington Mayor Celia Wade-Brown said there was Read more…
The deadly 8.0 earthquake and tsunami that hit the Solomon Islands days ago, struck along a subduction zone, the same geologic setting responsible for the world’s most powerful earthquakes…
The U.S. Geological Survey reported a 3.0 magnitude earthquake struck near Irving Wednesday night.
The quake hit at 10:16 pm., with the epicenter in Irving just south of the intersection of the Bush Turnpike and Highway 114 and 3.5 miles east of Dallas/Fort Worth International Airport.
The USGS said it measured the quake at a depth of 10 miles.
In the minutes following the tremor, WFAA’s Facebook page received more than 250 comments — most of which were from people who said they felt the earth unexpectedly shaking.
“I’m in Irving off 161 and Rochelle,” wrote John Hendry. “Felt a boom and house shook; no apparent damage.”
“It freaked me out!” wrote Tonya Taylor Paris from Euless near D/FW International Airport. “My whole house rattled and crackled after it happened. My front large window rattled really loud.”
“We all thought our chairs were moving due to a plane,” said Lisa Olivero Riccetti, who was at D/FW.
“It felt like a bus ran into the building,” wrote Martin Ross at Belt Line Road and Walnut Hill Lane in Irving.
“This is the third time this has happened since I lived in these apartments,” said Veronica Rodroguez-Harris in Irving.
Last September, multiple earthquakes measuring 3.4 and 3.1 magnitude shook the same general area
Published on Jan 16, 2013
(00:05) Planetary Alignment / Earthquake Watch Jan 18-19, 2013
(03:49) Planetary Alignment / Earthquake Watch Jan 28-29, 2013
http://www.youtube.com/watch?v=lEinkckbZNY Read more…
The U.S. Geological Survey (USGS) said that a strong 7.5-magnitude earthquake struck off the southeastern coast of Alaska just before midnight local time last night (January 4-5, 2013). A local tsunami warning was issued for parts of southern Alaska and coastal Canada, and it has now been withdrawn. The warning area extened for about 475 miles and included coastal areas from about 75 miles southeast of Cordova, Alaska, to the north tip of Vancouver Island, Canada, the Alaska Tsunami Warning Center said. There were no initial reports of damage from the earthquake.
Here are the details of the quake from USGS:
Date-Time Saturday, January 05, 2013 at Read more…
BEIJING — A series of earthquakes collapsed houses and triggered landslides in a remote mountainous part of southwestern China on Friday, killing at least 50 people with the toll expected to rise. Damage was preventing rescuers from reaching some outlying areas, and communications were disrupted.
The quakes started with a 5.6-magnitude shock before 11:30 a.m. along the borders of Guizhou and Yunnan provinces, and another equally big quake struck shortly after noon followed by more than 60 aftershocks, Chinese and U.S. government seismologists said. Though of moderate strength, the quakes were shallow, which often causes more damage.
Hardest hit was Yiliang County, where 49 of the 50 deaths occurred, said Yunnan province government agencies and state media. Another 150 people in the county were injured, said Zhang Junwei, a spokesman for the provincial seismology bureau.
China Central Television showed roads littered with rocks and boulders, and pillars of dust rising over hillcrests — signs of landslides. Footage showed a couple hundred people crowding into what looked like a school athletic field in Yiliang’s county seat, a sizeable city spread along a river in a valley bottom.
With some roads impassable, rescuers had yet to Read more…
Original Story: A powerful 7.6 magnitude earthquake struck on the west coast of Costa Rica on Wednesday, according to the United States Geological Survey. The epicenter was 38 miles south-southeast of Liberia, Costa Rica at a depth of 25 miles.
According to a statement from the Pacific Tsunami Warning Center, a tsunami warning was in effect for Costa Rica, Panama, Nicaragua, El Salvador, Honduras, Mexico, Colombia, Ecuador, Guatemala and Peru.
The tsunami watch that was issued for the entire Caribbean region was later canceled because it was inadvertently sent by mistake. No tsunami watch is in effect for the Caribbean Sea region.
A later statement said that an evaluation of the Pacific wide tsunami threat was underway and there is a possibility that Hawaii could be elevated to a watch or warning status.
Earthquakes of this size have the potential to create a widespread destructive tsunami that can affect coastlines near the epicenter within minutes and more distant coastlines within hours, but it is not known if one was generated.
According to ABC news, in the coastal town of Nosara in northwest Costa Rica, trees shook violently and light posts swayed. Teachers chased primary school students outside. There were no reports of major damage at this time.