The sages teach that a judge must always view himself as one standing on the edge of Gehinnom (Hell) with a sword over his neck. Afraid to make a mistake, one who judges or makes decisions does not want to be defined by this text.
The complete phrase lo maygis libo b'talmudo translates as "not being arrogant with one's learning." In Hebrew lo means "not" or "no." Maygis comes from the Hebrew root gimel-vav-samech meaning "to be bold." Libo means "one's heart." Together, maygis libo is an idiom that means "to be arrogant." Talmudo refers to one's learning.
Miyut Sechorah translates as "moderation in business" or "limited business activity." The word miyut comes from the Hebrew root mem-ayin-tet and means "little" or "limited." The word sechorah comes from the Hebrew root samech-chet reish and means "merchandise" or the "act of trading."
The phrase ohev et hatzadakot means "loving righteous ways." The word ohev from the Hebrew root aleph-hei-vet means "love." Tzadakot is the plural of tzedakah, from the Hebrew root tzadi-dalet-kuf and means "righteousness" or "justice."