COLUMN-Market reality can be more outlandish than wildcard forecasts: McGeever

It is that time of year when lists of quirky, semi-serious market forecasts of unpredictable "Black Swan" events and surprises are compiled, but perhaps the biggest tail risk for investors is reality itself. Who would have said at the end of 2019 that a once-in-a-century global pandemic would hit the world the following year, kill millions of people, shut down the global economy and yet stocks would end the year 15% higher? And who would have said oil prices would turn negative for the first time in history, with a barrel of Brent crude for a brief moment in April 2020 'costing' minus $37.00?