basically a guarantee that if you get too cocky in markets you will get humbled. law of conservation of ego or something 

whether as speculator in liquid markets or founder in The Actual Market

at least it's self-regulating (in theory)

arrogance leads to irrational decisionmaking which inevitably leads to failure of some sort which then checks the original arrogance

this happens without fail... just when you think you're good is when you get humbled

“Law of conservation of ego” — love that

Everyone thinks they are a great investor during a bull market.