The race doesn't always go to the swift, goes the old saying. But that's the way to bet it, replies the savvy gambler.
So it is with the old saying about the stock market. Past performance is no guarantee offuture returns. But it still makes sense to look at historical data-because that's the way to bet it.
Optimism about the economy and the political scene brought strong gains for the stock market in 2012, despite occasional jitters over the so-called fiscal cliff. There are reasons to think the rally will continue through 2013. Europe is getting better. China is stronger. Maybe our own economy will pick up as unemployment goes down, consumers build confidence, and politicians agree to compromise.
But history holds a w