That gets the definition of efficiency and risk completely wrong for thr context. It is the efficiency andnrisk of the /market/ not the outcome for any given pa

That gets the definition of efficiency and risk completely wrong for thr context. It is the efficiency andnrisk of the /market/ not the outcome for any given participant who may do a stupid thing. Price differences in iron ore by location stabilizing from buying high, selling low, and stockpiling some to prepare for supply disruption and variable input is promoting efficiency. Preventing some idiot from getting drunk and buying $70 million worth of iron ore weighing many thousands of tons when he thought he was buying his wife a $70 iron has nothing to do with risk or efficiency.