Conseco Insurance (CNO) Message Board

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Non-Tech : Conseco Insurance (CNO)

CNO 43.05

+0.8%

Feb 10 3:59 PM EST

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To: JM who wrote (530)	12/23/1997 9:39:00 PM
From: M.A. Miller	Read Replies (1) of 4155

<Purely speculation of course. But wouldn't you expect Hilbert to be more vocal about the upcoming year, especially with the stock price under pressure?> Yes. You're absolutely right. My guess is that CNC isn't selling out yet, but probably buying another company or two. I think you make an excellent point about Hilbert being quiet. I found it fascinating in reviewing CNC's financials that all of the 96 and 97 acquisitions were accounted for using "purchase accounting", even the stock deals, rather than "pooling of interest". That means that the actual reported earnings had they used pooling would be much higher, say 75 cents or so. That shows that CNC's projected earnings, taking out the amortized goodwill from purchase accounting, is closer to $4 for 1998. An analyst that follows CNC said this is a huge fact not to overlook. I called him last summer when CNC was down to $35 because of Dirks' first report. Hang in there everyone. CNC will be much higher. This market right now, with heavy short selling, year end "hold your gains" selling, and negative Dirks stories, is as bad as it will get for CNC. Good input from the last post though.

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