Comedy sequels NEVER work

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Naked Gun, Ace Ventura, Austin Powers, Hot Shots, 22 Jump Street, Rush Hour 2
There are some genuine exceptions to the rule.

I might be in the minority but I did enjoy Anchorman 2 as well.

If I never meet you in this life, let me feel the lack

Comedy sequels can be a lazy way to cash in a previous success, but when it's done for the goos reasons, it can be great. I agree that this one isn't a good sequel, because the new story sucks, but it has his moments and the cast is great.
But among good comedy sequels, you have the addams family values, 22 jump street, Naked gun, OSS 117 rio ne répond plus (french movie), Les bronzés font du ski (french movie), Shrek 2, Austin Powers, Wayne's World...

A high percentage of comedy sequels suck but here are some I like

Naked gun 2 and 3 not as good as the first but both above average

Addams family values was better for me

Hangover 2. I liked it and thought it was a worthy sequel

Hot shots 2 just as good

Horrible bosses 2 still solid

Evil dead 2 rules if we count horror comedy

Porkys 2 nowhere near as good as the first but still hilarious

American pie 2

Christmas Vacation