Black Swan events

An abundance of caution, we have all heard the phrase. And while there are nuances, its gist is, for this particular situation, we are extra careful. And in what situations does that apply? For the most part, situations in which there is a remote chance of a catastrophic outcome that puts its thumb on the scale when measuring risk and benefit. But like the thumb on the grocery scale, it throws off the enterprising of weighing choices and often has stealth costs of its own.