Market is "Efficient Enough"

Saw this 6 minute clip with Professor Burton Malkiel which is excellent. He has just released the 10th edition of his book Random Walk which largely refutes the notion that investors can out select with consistency. About 5 minutes into the clip he says the markets are "efficient enough" to make them unbeatable. That is spot on and swipes at those who say the markets are not perfectly efficient. They don't have to be.