Conseco Insurance (CNO) Message Board

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Non-Tech : Conseco Insurance (CNO)

CNO 41.19

0.0%

Nov 26 3:59 PM EST

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To: M.A. Miller who wrote (615)	2/7/1998 8:27:00 AM
From: John Thomas	Read Replies (1) of 4155

Short covering? I do not belive that there are very many people short Conseco. A few Ray Dirks followers maybe? The hedge funds that shorted Conseco in the past all lost their ass. The have seen Steve Hilbert in action and know that he will get his stock price up no matter what it takes. You have to remember that Conseco has a ton of convertible preferreds, warrants (that are not publicly traded) and other arbitrage situations that I belive account for 80 - 90% of the short interest that you see in the paper. The number of shares that are actually short is minimal at best. I belive that the run up is due to the very bullish statements that Mr. Hilbert made last week. I continue to here the GE rumor, as well as MWD as a possible suitor, but do not belive that either will happen any time soon. If Hilbert can get the price of the stock up to 65 - 70. then he will listen to those 80 -90 offers (that will not be there IMO). Long and enjoying the great week. John

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