Lake Monger is one of the opportunities closest to town to watch and photograph black swans. Take the train to Fremantle and exit at the second station from Perth, "West Leederville".
But, I didn't go to Lake Monger; but saw a few Black Swans at Perth Zoo.
Not many people are aware or fully understood the risk of a Black Swan event happening in their life.
E.g.
One of my relatives who invested a significant portion of his saving into his company IPO. His father and mother also bought into this stock. He and his parents have never thought of Black Swan event happening.
What if a major crisis hits his company and threatens the survival of the company; its stock price will plunge. He may be retrenched and lose his job. The value of family portfolio will plunge due to over weight in this stock. The whole family may be financially hit by just one single event.
It is never so wise that whole family invest in the same stock for better risk management. For couple and family, try to overcome the attitude of "your money" and "my money" when come to investment, and think in terms of our risks.
My thinking is simple. I am just an ordinary employee of the company. My job, bonus and pay are already tied to the fate of the company which I have no control over its survival so there is no further need to tie my investment to the fate of the company. I don't invest in my company shares.
But, the thinking will definitely be different if I am the business owner.
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