21 February 2018 Financial Analysts Journal Volume 74, Issue 1 “The Long-Run Drivers of Stock Returns: Total Payouts and the Real Economy”: A Comment Robert D. Arnott and William J. Bernstein Share this: Share on Facebook Share on Weibo Share on Twitter (X) Share on LinkedIn Share by Email This material comments on “The Long-Run Drivers of Stock Returns: Total Payouts and the Real Economy” (Third Quarter 2017). Read the Complete Article in Financial Analysts Journal Financial Analysts Journal CFA Institute Member Content Publisher Information CFA Institute doi.org/10.2469/faj.v74.n1.6 ISSN/ISBN: 0015-198X