Conseco Insurance (CNO) Message Board

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Non-Tech : Conseco Insurance (CNO)

CNO 40.85

+1.0%

3:59 PM EST

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To: david siple who wrote (451)	12/5/1997 3:18:00 AM
From: dfloydr	Read Replies (2) of 4155

My feelings exactly. It would be interesting to see if Century Shares Trust in Boston owns any CNC. They are a bunch of savvy insurance analysts and historically have owned mostly insurance stocks with some banks thrown in. I might call Bill Dyer and see what they say. For a while Dirks was called a bunch of names back in 1973 when he fingered Equity Funding. Law suites were threatened and if I recall, actually filed. Equity Funding ran out the argument about all the accountants they had survived, the filings they had made, the obvious scrutiny that they had survived doing their stock and bond offerings over the years - but after a while the roof fell in - on them, not him - suicides and jail followed. In that case there was real fraud - faked policies. Dirks is not suggesting fraud here, rather he seems to question accounting practices and forecasts on which they are based. His report points to some items that would seem to be a matter of fact - for example extrodinarily high good will - which I always regard as a problem. Floyd Russell

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