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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: Tunica Albuginea who wrote (2199)8/6/2000 10:26:12 PM
From: Jack Hartmann  Read Replies (1) of 4155
 
CNC in WORTH Magazine via Maverick Capital's Hedge Fund Manager - Lee Ainslie. Ainslie is a noted short seller who has averaged 24.8% after fees with $5B under management. He made millions shorting CTXS this year.

"On the short side, Maverick is looking for the exact opposite set of conditions - companies with poor fundemental business, weak competitive positions, and, ideally mediocre management. That had certainly been the case with insurer Conseco, one of Mavericks better performing shorts this year. But when former GE Capital cheif Gary Wendt made it official in late June that he was taking the top job at Conseco, replacing ousted chairman and CEO Stephen Hilbert, Maverick started to cover its position, 'We don't want to be short a manager like Gary wendt. who has proven, over time that he can add value for shareholders,' says financial service director Duke Buchan." (of Maverick Capital)

I typed this from the issue received via subscription Saturday. Online and newstand print edition won't hit for another week or so. Maverick Capital is the cover story.

One of the highly capitalized shorts on CNC covered his position. I remember Softechie or someone talking about this.
Jack
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