“As January goes, so goes the year” is an old stock market adage. The idea is that if the market goes up from January 1 to January 31, then it will go up for the entire year, January 1 to December 31. If the market drops in January, then it will be a bad year. Newsweek cited this theory and reported that “this rule of thumb has proved correct in 20 of the past 24 years” [27]. Explain why you are skeptical about this evidence.