a positive feedback system is actually contrary to the way markets naturally work. In fact, they become positive feedback systems (temporarily) only when they are distorted; the tendency to see only positive feedback processes and thus assume imitation-like strategies (of momentum, carry, etc.)—a simple extrapolation of the seen—is an obvious consequence of our natural shallow depth of field further compressed by the spell of artificially low rates.
A properly functioning market priduces only negative feedback. A broken market produces positive feedback.
