How Stocks Have Returned 10% Per Year

After Henry Blodget from Clusterstock was on NPR saying that stocks were back to "fair value" (i.e. their long run average), he had a listener email him about how the 10% annual return in stocks is found. His answer is below:How Stocks Have Returned 10% Per Year: "...the 10% number includes dividends, which is the way people normally look at stock market returns. On a pure price basis, returns