“I never give them hell.  I just tell them the truth and they think it’s hell.”
– HARRY S. TRUMAN, 33RD PRESIDENT OF THE UNITED STATES

A Midwinter Night’s Dream. It’s easy to be a dreamer in Hawaii.  Between the leisurely pace and the paradise-found scenery, life’s cares simply drift away.

“Given the scale of the problems faced by many of the eurozone countries, it is hard to believe they won’t face further periods of extreme stress over the next couple of years.” 
– ARIF HUSSEIN, DIRECTOR OF ALLIANCE BERNSTEIN’S EUROPEAN FIXED INCOME RESEARCH

POINTS TO PONDER

1.  While most observers seem to believe the US economy is accelerating,

“When all the experts and forecasts agree, something else is going happen.”
-ACCLAIMED MARKET TECHNICIAN, BOB FARRELL

Where have all the risks gone?   In the far distant past, like around last Thanksgiving, the world’s sundry problems were weighing heavily on investors’ minds.  Now, some two months later, all seems forgiven if not quite forgotten   For many,

“The problem with socialism is that eventually you run out of other people’s money.”
– MARGARET THATCHER

Special Message:

In support of our ongoing effort to grow EVA readership, ECM is initiating a contest among our readers to see who can refer the most new EVA subscribers. Every month the reader with the most referrals will win a $100 gift card to the restaurant of their choice.

“It was a year that made the smart money look dumb.”
-WALL STREET JOURNAL REPORTER, JONATHAN CHENG

Special message: On Thursday evening, January 26th, we will be hosting the annual Evergreen Capital forecast event. It will be held at the Hyatt Regency Hotel in Bellevue, 10500 NE 8th (the northeast corner of Bellevue Way and NE 8th).