Oh what fun it is to have an interview right before popping off to my favorite place in the world in the winter - Taos Ski Valley.

Dave Briggs was ready to jump on the plane and join me, but first we get to the heart of the matter when looking at bank stocks.

Then I get into my thoughts on all of the annual prognostications required of Wall Street CIOs and analysts. Bottom line, there is a lot we don't know about earnings, so allocate accordingly and be prepared for at least one more add lower/trim higher situation.

Lastly, remember the lessons of last year - if the year end really happens too soon, trim higher!