He exhibits extreme bravery because he really does not want to confront Smaug, but he goes anyway. Tolkien emphasizes their mortality, their lack of wisdom, their discordance with nature, and their rampant feuding, but he does not describe humans as inherently evil in the same way that he characterizes goblins and Wargs.
He also discerns Smaug's vulnerable spot, where he will eventually be shot by Bard's arrow. The narrator describes dwarves unfavorably in Chapter 12, noting their greed and trickery. It is important to note that Bilbo resists the impulse to kill Gollum in Chapter 5 because he thinks it would be unfair: Gollum is unarmed, while Bilbo is invisible and armed.
At this point, he names his sword, as many legendary heroes have done, and it is clear that he is developing qualities of heroism and leadership.
Memories of this kind of plain English food follow Bilbo throughout his hardships on his journey, when he is often hungry, and represent what home means to him.
Like most hobbits, Bilbo is fond of the comforts of home and hearth: He loves good, simple food in abundance, and he loves his pipe and well-furnished hobbit-hole. Also called the Necromancer, Sauron is only mentioned in The Hobbit; he never actually appears.
In Chapter 9, he displays both bravery and intelligence in devising a plan for the escape of the dwarves to Esgaroth; Gandalf has departed and their fate is in Bilbo's hands. The dragon has been guarding the treasure ever since, and Thorin wants to get back what is rightfully his.
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