PLENTY OF UNCERTAINTIES: Mangers of stock mutual funds say it's more difficult than usual to predict what the market will do next year. Key issues include the "fiscal cliff" negotiations in Washington and tax and spending questions that lawmakers must deal with in 2013.
STRONG FUNDAMENTALS: Many fund managers remain optimistic for 2013 because corporate profits remain strong. Earnings have recently grown at a slower pace than in 2011, but they're still increasing.
STOCKS DISCOUNTED: Stocks remain modestly inexpensive, based on price-earnings ratios. That's a measure that shows investors how much they're paying for a dollar in earnings.