Tuesday, May 3, 2011

The Greeks Had a Word For It: ὕβρις

The Greeks had a word for extreme overconfidence: hubris (ὕβρις).  This is the overconfidence that silver bulls are currently showing, as they just KNOW that silver will hit $100/oz, and the type of overconfidence of those who just KNOW that the silver parabolic move has hit the wall.  Bellerophon tried to ride Pegasus to Mt. Olympus, Icarus tried to soar too high, and silver bulls saw silver replacing the Space Shuttle in regular orbital maneuvers.

Tone it down folks.  Go for a walk.  What does it take to see hubris for what it is, and avoid it?


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