Justin Fox talked about his book The Myth of the Rational Market: A History of Risk, Reward, and Delusion on Wall Street (HarperBusiness; June 9, 2009). In his book he presents a history of Wall Street from its inception, including the basic principals of the Market and the stories of people who won and lost fortunes. He focuses on the efficient market hypothesis and profiles a group of current economists who now refute its tenets of a market that is never wrong and that maintains that the greatest signifier of a stocks value is based on the decisions of judicious investors. At this event he described the idea of "rational market" and how it developed. He responded to questions submitted by members of the audience. Greg Maged moderated. Justin Fox is the business and economics columnist for Time magazine where he writes the blog "The Curious Capitalist" for Time.com. Mr. Fox was formerly a writer and editor at Fortune. "Are Investors Always Rational and Markets Always Right? -- The Story Behind Rational Market Theory" was a speech given 6:00 p.m. PT in the World Affairs Council Auditorium.