George Soros offers this article from 2001 when discussing the idea of efficent markets (he doesn't buy it).


I contend that it would be better to recognize the uncertainties inherent in the behavior of financial markets than to cling to a purportedly scientific theory that distorts reality. If financial markets are potentially unstable, there is a need for financial authorities who make it their business to prevent excesses. The debate about efficient markets may be arcane, but the consequences for our lives are very real indeed