In the large? Yes, generally and generically speaking they are excellent at pricing in the very short term. On the small they have all sorts of failure modes an

In the large? Yes, generally and generically speaking they are excellent at pricing in the very short term. On the small they have all sorts of failure modes and perversions - there is no such thing as "the market" there are, however, market conditions in any given area which may or may not follow certain patterns of activity.