Is It Time To Favor Bonds Over Stocks? Long-Term Returns Lag Also, look at inflation and higher tax on interest in comparing with stocks.(MUTUAL FUNDS)

Byline: CLAIRE MENCKE

Many fund investors forgave stocks for less than lovely returns in 2000. They were hurt more by ugly returns last year.

For those faithful to stocks, will the third year be the charm?

Much of the time, it is. Over the past 40 years, the average bear market has lasted 18 months.

But some are skeptical that stocks must turn up on cue.

"The consensus of opinion on Wall Street today is that the two back-to-back years of negative performance for stocks somehow implies an inevitable reversal to the upside in 2002," said Martin Weiss. He's chairman of research firm Weiss Ratings.

"But I see no concrete …