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

To: John Thomas who wrote (588)	1/21/1998 10:15:00 PM
From: M.A. Miller	Respond to of 4155

Jim R. at Conseco said two weeks ago they were part way into the buyback but implied they had a ways to go but couldn't be specific. I'm getting a report from Sands Brothers which is the top firm following Conseco. They project $60 per share in 12 months and a market cap of $20 billion by end of 1999. They are "tight" with the CNC top execs. By the way, doesn't it tell you something that they're doing a large buyback just before earnings. It so true with CNC that they don't repurchase unless they now the earnings out in Feb will prove the stock undervalued.

To: John Thomas who wrote (588)	1/22/1998 1:31:00 PM
From: M.A. Miller	Read Replies (1) \| Respond to of 4155

John Don't you think before making any acquisition announcements that Hilbert would want the stock price near $50. I do. Therefore, I think you'll see a strong management effort to get the stock up prior to negotiating any final deals. Buyback, Hilbert speaking on the 27th in New York (I hear), and earnings coming out in February. Maybe we're entering a strong period. February March is typically a strong period for CNC (mainly February). Thanks for the input.