On Wednesday, a cadre of high-profile academics and commentators gathered in London to deliver a series of talks based on a book that they have co-authored on "The Future of Finance and the Theory that Underpins it".

Among the once sacred cows that was not so much challenged as vilified was the efficient markets hypothesis. Economists could no doubt argue until the cows (sacred or otherwise) come home, about what is meant by the efficient markets hypothesis, so it would help to explain first