I think this is about as good a demolition of the idea that all our current problems are down to the efficient markets hypothesis as I think you\’re going to get. Do read it all but:
Toward the end of the book, Fox concludes that passive investing is the right choice for almost all investors. My academic friends in behavioral finance (for example, Richard Thaler) almost always end up with a similar conclusion. In my view, this is an admission that the EMH provides a good view of the world for almost all practical purposes. At which point, I say I won.