History demonstrates that participants in financial markets are susceptible to waves of optimism. Excessive optimism shows the seeds of its own reversal in the form of imbalances that tend to grow over time.
Most of us stand poised at the edge of brilliance, haunted by the knowledge of our proximity, yet still demonstrably on the wrong side of the line, our dealings with reality undermined by a range of minor yet critical psychological flaws (a little too much optimism, an unprocessed rebelliousness, a fatal impatience or sentimentality). We are like an exquisite high-speed aircraft which for lack of a tiny part is left stranded beside the runway, rendered slower than a tractor or bicycle.
We should cultivate the optimistic temperament, and endeavour to see the good that dwells in everything. If we sit down and lament over the imperfection of our bodies and our minds, we profit nothing; it is the heroic endeavour to subdue adverse circumstances that carries our spirit upward.
The vanishing, volatile froth of the present which any shadow will alter, any thought blow away, any event annihilate, is every moment converted into the adamantine.
An optimist will tell you the glass is half-full; the pessimist, half-empty; and the engineer will tell you the glass is twice the size it needs to be.