Conseco Insurance (CNO) Message Board

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Non-Tech : Conseco Insurance (CNO)

CNO 40.02

+0.3%

Oct 31 9:30 AM EDT

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To: BIG EYE who wrote (3993)	2/16/2001 3:38:56 AM
From: Cogito	of 4155

>>Allen, You can't be a little bit pregnant. If Gary Wendt DIDN'T have fruitful 'negotations' mentioned, --- "Enter Mr. Buffett. In October, Conseco was negotiating with the insurance division of Berkshire Hathaway for $500 million in reinsurance protection, a Conseco spokesman confirmed." --- Then the SAME "Conseco spokesman" should have issued a denial!<< Big Eye - The story you quoted says Conseco was talking with the insurance division of BH. I would assume that would be the General Re division, which specializes in reinsurance. That division is not run by Buffett. He only runs the holding company. What does that have to do with Buffett buying CNC junk bonds? Bonds were sold by CNC, at some point(more than one point, really) to raise money. The bonds have since been traded on the open market, and CNC really doesn't have any involvement with that trading. I don't believe that there was any reason for anyone at CNC to know whether or not the story about Buffett buying CNC junk bonds was true, and thus, there was no reason for them to comment on it. - Allen

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