尾事件罕见但他们仍然具有重要经济意义的。

Tail events are rare but they are nevertheless economically important.

youdao

但金融史中充斥着泡沫和崩盘，也就是说，极端事件(即所谓的“肥尾”)发生的频率要远大于钟形曲线所预计的。

But financial history is littered with bubbles and crashes, demonstrating that extreme events or so-called "fat tails" occur far more often than the bell curve predicts.

youdao

换句话说，它并非带有肥尾的一系列离散事件的随机结果，而是在事先观察到上升的宏观及金融风险后完全可以预见到的。

In other words, it was not a random drawing from a distribution of events with a fat tail but actually predictable in advance given the rising macro and financial risks and vulnerabilities.

youdao