Rocket Lab Electron Rocket Launch Livestream: Still Testing
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Of course, once your investment had grown past a certain
point, it would be impossible to put into any stock
without drastically affecting the stock’s price. In many
cases, investing this volume of cash would be
impossible [...] we also did not take into account
trading fees nor changes in the composition of the S&P
index. We also assumed that all companies allowed for
investment in fractional shares.
Moreover, even if one made the impossibly optimistic
assumption that picking the best stock of the day is a
50-50 guess, there would be only a one-in-3.53
trevigintillion (3.53 x 1072) chance of matching these
results.
There's another humorous follow up on Quartz, positing that "[i]nvesting a day late every day would have returned 19.6% in 2013".[0] The [basis minimum income] scheme proposed by the Welfare
Working Group is a significant policy change with large
economic consequences. The scheme is fiscally very costly
and would not necessarily achieve its main goal of
reducing poverty. The high personal tax rates required to
fund the scheme are highly distortionary to the labour
market and to savings and investment decisions, and would
be likely to induce a significant behavioural response.
This has damaging effects on the tax system and economic
growth.
Also of importance, from the same report: Although the Gini coefficient improves under all models,
many beneficiaries (including the disabled, carers and
sole parents) currently receive more than $300 per week
and would be made financially worse off under a GMI
scheme.
At a high level, it seems that the economic reality of providing a basic minimum income to everyone requires a significant increase in taxation revenue. That might be possible with significantly higher GDP per capita, but I'm not certain we're there yet.
[0] http://blogs.cornell.edu/info2040/2019/10/23/uber-ride-shari...