Various anecdotes

• Barring a disastrous year-end, the S&P will log its 3rd year of double-digit gains. Haven't done that since '95-'99.

• Last 2 Years - S&P vs. FTSE All-World Ex-US ---- S&P up 50%, Intl' Stocks up 20%. (see chart)

• There have been 4 times since 1970 when the S&P outperformed international equities at the rate witnessed in 2014. Each time, in following year, world ex-US beat US by average of 14%.
• Jim Grant's Holiday Card (see picture):

• Greece 10 Year Bonds:
• December: 9.7%
• November: 8.2%
• October: 7.1%
• September: 5.5%
• US Stocks vs. Bank Loans (SPY vs. BKLN): +12.8% vs. -3.8% (someone's wrong...)
• 100% of 94 economists expect higher US bond yields in 2015, 96% see US growth above 2.5% (Bloomberg survey)
• The massive investment into stocks for the week ended December 24th was largest since Lipper started tracking the weekly statistic in 1992.
• NASDAQ is within 5% of reaching its 2000 peak (15 yrs...)