Current scholarship on Clearchus' Lives emphasizes a moralizing historiographical schema of pernicious luxury, in which truphe leads to koros, then to hybris, and finally to destruction. Yet all the fragments used to construct this theory are preserved in one late source, the Deipnosophistae of Athenaeus. A study of the diction and immediate context of these so-called fragments demonstrates that the moral themes are presented in language that is far more likely to originate in the cover text rather than in the Lives. Furthermore, this moralizing schema that binds together acts both effeminate and hybristic -- as if the one followed naturally from the other -- cannot be found securely attested elsewhere in Greek thought before the Roman Era. Thus we argue that, based on the evidence that survives, it is anachronistic to suggest that Clearchus espoused this principle. In addition, those who study Hellenistic fragments need to scrutinize more carefully the exact phrasing and framework of the Deipnosophistae, and be more wary about Athenaeus' attribution of contemporary values to his sources.