This takes a lot of time and effort. You'll feel like an expert pastry chef when it's done though! My sister insists on this for her Dec 24th birthday gift each year.
In a one cup measure start with 1 Tbs yeast in 1/4 c warm water
Add just a pinch of sugar and proof the mixture.
Beat 2 eggs well in a mixing bowl
Add 3/4 c very warm water and the yeast mixture.
blend in 4 c all purpose flour
1 tsp salt
2 Tbs sugar
1/2 c butter
Knead this mixture until smooth, about 5 minutes. From the dough into a ball and let it rest for 20 minutes in the refrigerator. Meanwhile, beat until creamy 1 1/3 to 1 1/2 c of COLD butter. It is important to keep the butter cold at all times.
Next; Roll the chilled dough into a neat oblong measuring about 6 x 16 inches. Spread 1/4 of the cold butter onto the bottom third of the dough. You may knead the butter for ease in spreading it but keep it cold. Fold the dough into thirds. Put this on a greased baking sheet and let it rise in the refrigerator for 20 minutes. Take the dough out of the refrigerator; roll again into oblong measuring 6x16 inches. Repeat the same process three more times until you have rolled in all the cold butter. Let the dough rise in the refrigerator about 2 hours.
Now you are ready to make it look great!
Roll the dough again about 6x16 inches. Spread a 1/3 to 1/2 lb package of almond paste onto the dough, and them roll up, sealing the ends neatly.
You may shape the dough into a ring or leave it long. Raise dough in the fridge again until double or over night.
Bake at 375* for 25-30 minutes.
You can make a powdered sugar glaze or other icing or do a french egg wash and sprinkle slivered al monds on during baking.