In the ancient time, Europeans thought that swans are all white in colour until one day, black swan was found in Australia, it became a surprised news.  Black swan event is a financial term used to describe an unexpected event which later evolved into global financial crisis.  There were people and company went bankrupt during the downfall of global stock market.  There were also people who took advantage to buy good business at low price, making many times of fortune in a short time when the crisis is over. Every crisis is an opportunity. However, there are different scales of financial crisis, from Level-1 (company level, eg. Swiber or Noble), Level-2 (sector level, eg. Shipping Industry), Level-3 (country level, eg. Russia) to Level-4 (global financial crisis).  Level-1 crisis happened almost all the time, weak company could wind up the business when the earning, asset or cashflow ......