Stats › Long run returns › Long run returns
$100 in US stocks since 1928 became $1,157,599, cash $2,578
| Asset | Value of $100 invested in 1928 |
|---|---|
| S&P 500 | $1,157,599 |
| Gold | $21,025 |
| 10 year Treasuries | $7,753 |
| 3 month T bills | $2,578 |
Equities produced 55 times what gold did and 149 times what ten year Treasuries did. Source: NYU Stern, Damodaran, annual returns 1928 to 2025.
US stocks, bonds, bills and gold have all been measured on the same basis since 1928. Stocks compounded at nearly ten percent a year, roughly double the others. Over ninety eight years that gap is two orders of magnitude of final wealth.
$1,157,599$100 in US stocks
$2,578$100 left in cash
9.79%Stocks, annualised
about 6.9%After inflation
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