# Professor Aswath Damodaran's research on stock market returns is referenced

1 Faculty News February 4, 2018 ![Wall Street Journal logo](/sites/default/files/styles/246w/public/assets/images/wsjlogo.jpg?itok=5Qt0z3WX)>

Excerpt from [The Wall Street Journal](https://www.wsj.com/articles/how-many-funds-do-you-need-probably-fewer-than-you-think-1517799960?mod=searchresults&page=1&pos=1) -- "...from 1928 through 2017, the S&P 500, including dividends, generated an average annual return of 9.65%, compared with 4.88% for 10-year Treasury notes, according to data from [Aswath Damodaran](http://www.stern.nyu.edu/faculty/bio/aswath-damodaran), a finance professor at New York University’s Stern School of Business."

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