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He will be stuck in Frankfurt handling the ECB's meeting on Thursday, where a big quantitative easing (QE) programme could be announced.
Critics include Mr. Bogle — who helped create the original index fund — Mr. Malkiel, Mr. Perold (who is a Vanguard director), and Clifford Asness, the co-founder of AQR, a big quantitative hedge fund.
The overall lack of progress has occurred even though interest rates are pinned to the floor and despite the stimulus from big quantitative easing programmes in Britain and America.This suggests that something more fundamental has gone wrong than the usual down-phase of the business cycle.
"The opinion removes another inconvenient obstacle to [ECB president Mario] Draghi's big quantitative easing gamble, which will now almost certainly be announced next week.
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The clearest way in which the ECB can show that it means business would be to announce a big quantitative-easing programme when its governing council meets on January 22nd.
But, with interest rates already at zero and the Bank of Japan having already engaged in the biggest quantitative easing effort on the planet, it could be that even with all the will in the world, the task may simply prove impossible.
Ikos, a big European quantitative hedge fund, has been shaken by domestic melodrama.
"From my perspective, the cost-benefit analysis would suggest that it wouldn't be a good idea to do a big, massive quantitative easing because the gains are quite small in terms of the impact on interest rates," he said.
Due to big heterogeneity, quantitative synthesis was not feasible.
The European Central Bank announced a big programme of quantitative easing.
For the big concern about quantitative easing isn't that it will do too much; it is that it will accomplish too little.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com