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Strategies & Market Trends : YEEHAW CANDIDATES -- Ignore unavailable to you. Want to Upgrade?

To: JoeinIowa who wrote (1006)	1/14/2003 7:31:50 PM
From: Crossy	Respond to of 23958

Joe, the DAC writedown improves the odds that they will not only HIT the numbers but exceed them by a HUGE MArgin. I also heard that annuity premiums are up materially due to insurance failures - those are anoter opportunity. SMAN might be able to acquire some policies-pools of companies that are now distressed. Think of the "better" portions of Conseco (apart from mobile homes that nobody should touch financing..) But the real glimpse is a shift in corporate strategy. Go to their website and download the Wall Street Transcript interview with CEO hunter. From a PR I concluded they bought out a pharma-prescription distributor, generic repackager called "PCA" - Pharmaceutic Corp of Indiana for a very small amount and give this operation a nationwide scale. According to CEO Hunter this operation is nicely complementary to their annuities business. I see it as a major possible beneficiary of the type of prescription-benefit plan Bush and the GOP are backing (privately administered by insurance carriers) rgrds CROSY

To: JoeinIowa who wrote (1006)	1/14/2003 7:39:55 PM
From: Crossy	Read Replies (1) \| Respond to of 23958

re: IPSU news - BOOK VALUE at $16,80 per share now Well, it's now official. CEO Peiser, who is doing an EXCELLENT JOB in providing timely financial updates, has just issued an 8k on the IMPACT of the DCB sale on the most recent financial report: sec.gov. I'm really impressed and the best is, that the impact of the asset sale of the Montana & Wyoming refineries appears to be not yet included. I believe that this figure is before any applicable tax items, though. However with the Wyoming refinery sale (Asset was very low marked in the books) my most optimistic $15 book value per share condition will hold easily !! Further tidbits are also contained also in the report: the gross margin percentage would only be reduced by 100bp because of the sale of DCB.. This IS significant IMHO.. And I believe it'S great news.. As I see it, aganinst the numbers posted, a move for application at a REAL STOCK EXCHANGE (preferably the NYSE but the NasdaqNM would do also) is imminent any day. But almost more importantly, the company looks at being on its way to start paying dividends by 2004/2005. !!! No one, even with only parts of one's brain left would sell this stock in the SINGLE DIGITS .. !!! rgrds CROSSY