Yes, expectations are important in determining success or failure. You should never, however, set your expectations way too high or low. Simply be yourself and let the chips fall where they may.
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It is not a question to be answered but a common expression describing ownership of success and failure. It means many people are willing to take the credit for a success action while none take the credit if an action turns to failure.
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being in top physical shape
Wilson, Taft and Roosevelt
Reconstruction ended with the Compromise of 1877, it was a failure for the most part.