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Non-Tech : Conseco Insurance (CNO) -- Ignore unavailable to you. Want to Upgrade?

To: M.A. Miller who wrote (521)	12/15/1997 2:51:00 PM
From: M.A. Miller	Read Replies (2) \| Respond to of 4155

Here are two major reasons I fundamentally find Dirks to not be credible. I'm focusing on philosophy here, not numbers. But my statements respond to Dirks' statements in his CNC report. #1 Look at how Dirks Research gives a glowing report on Green Tree, recommending $81 per share in 1 year, whereas Green Tree is down to $20. Grant recommended short sale of Green Tree. Green Tree report of Dirks blasts short sellers for implying financial irregularities, for assuming Green Tree is just like other sub-prime lenders (as Dirks does to CNC with Oxford comparison). It's a good example of how majorly wrong Dirks can be, and how they respond when their "baby" is being shorted. Then Dirks ridicules those shorters who are shorting Green Tree on this one analyst report, which is based on misinformation. Sound familiar? raydirks.com #2 Look at how Dirks glows over Pioneer Life and chairman Peter Nauert, and the whole management of Pioneer Life, and how there's big opportunity in the senior medical markets, where economies of scale and acquisition (not internal growth) were the keys to Pioneer's success. Why would Peter Nauert, the brilliant guy Dirks says he is, agree to sell his great company to CNC and take CNC stock if CNC stock is worthless? And then Dirks lambasts CNC management is inexperienced in the medical markets, yet Nauert is a very high ranking exec now at CNC. He stayed on, as did the key management with American Travellers (John Powell), and many other key management in the companies that were acquired. This is a major flaw in his CNC report. Too much self-contradiction. And why did Dirks put the CNC Pioneer deal together, as he claims, if CNC is so bankrupt. The biggest problem though is his convenient flip flop on Pioneer management which is now key CNC management, and why Nauert (who has been in the insurance business his whole life, b/c his dad started Pioneer) would agree to take CNC stock which could become worthless. Here's a post to the Pioneer report. raydirks.com Please respond to that for those that are following Dirks.