Markets can be prone to overconfidence at times, and when these ‘certainties’ don’t come to pass the results catch investors off guard. In 2011, markets had priced in never ending growth in Chinese demand for Australian commodities. By the time 2015 rolled around, those investors who had bought into this story were suffering the consequences. Avoiding buying into these popular delusions can go a long way in avoiding the big mistakes. In this edition of Buy Side Brief, we asked some of our regular contributors where they see such overconfidence in prices in today’s markets. Responses come from Chris Prunty, Justin Braitling, Simon Bonouvrie and Matt Haupt.