There is a list of 25 potential surprises for 2007 by Doug Kass at The I actually like the summary version at The Big Picture as it’s briefer but still has the same amusing punch.

These are not intended to be predictions, but rather “events that have a reasonable chance of occurring, despite the general perception that the odds are very long.”

Among the most amusing (to me at least):

3. Based on misleading government statistics, the housing market appears to stabilize in the first quarter of 2007.

6. The magnitude of the credit problems in mortgages takes its toll on the hedge fund industry, which is much more exposed to real estate than is generally recognized.

16. There are several political surprises in 2007. Most significant is that New York Sen. Hillary Clinton, citing personal issues, announces that she will not run for the Democratic presidential nomination in 2008 and that she will throw her support to former Vice President Al Gore’s candidacy. Democratic hopefuls Barack Obama, John Kerry, Evan Bayh and Joe Biden do not pursue the nomination, leaving Senator John Edwards as Gore’s only viable competition.

25. Amidst the early 2007 stock market euphoria, Jim “El Capitan” Cramer’s “Mad Money” show goes primetime on CBS. But it is cancelled during the midyear market meltdown and returns to CNBC by the Fall. CNBC extends the show to two hours by year’s end after Cramer, The Movie reaps $38 million in its first weekend.

Oh, how interesting to guess at what the long shots could be.