There are pros and cons of experience. A con is that you can't look at the business with a fresh pair of eyes and as objectively as if you were a new CEO. Fire yourself on a Friday night and come in on Monday morning as if a search firm put you there as a turn-around leader. Can you be objective and make the bold change?
You don't want too much fear in a market because people will be blinded to some very good buying opportunities. You don't want too much complacency because people will be blinded to some risk.