If the recent outbreak of the Covid-19 pandemic teaches us anything, it
is of the importance of being prepared for life's rare occurrences. But
with these "once in a century" oddities taking place in such an
infrequent manner, should we simply resign to the law of averages and
hope that they won't transpire during our lifetimes?
For a detailed answer to this question, you should definitely read a posting called "The Oddity Doctrine" (https://www.howtoinvestblog.net/2020/04/the-oddity-doctrine.html) by Anthony Rhodes, the owner of wealth management firm The Planning Perspective (www.theplanningperspective.com) on his popular How To Invest blog (www.howtoinvestblog.net).
"Just because we can't predict exactly when an incident is likely to occur, doesn't absolve us of our responsibility to appropriately prepare for them," he began. "With human lifespans expanding to the mid to upper seventies on average, a once in a century occurrence is actually more likely to transpire within our lifetime, and not as implausible an oddity as one might assume," he stated. "Nonetheless, it's always a good idea to prepare our portfolios for the certainty of the uncertain, whether it's disguised as a record-breaking stock market crash, or as a worldwide health pandemic," he added.
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