George Soros Lecture on Financial Markets, Part 2

George Soros continues his week-long lecture series where he applies the concepts of fallibility, reflexivity and the human uncertainty principle he discussed in the first lecture to the financial markets. He discusses why his interpretation of financial markets is very different from the efficient markets hypothesis. In this second part of the lecture he discusses price distortions in the market and the boom-bust cycle, particularly his theory of bubbles and super-bubbles. He also posits a hypothesis to explain the recent financial crisis. See below for a transcript of the lecture.