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

To: John Carragher who wrote (686)	4/8/1998 9:22:00 AM
From: gerard mangiardi	Read Replies (1) \| Respond to of 4155

I brought GNT a few months ago after it's stock was crushed. I did this for two reasons. First the company has never had a quarter in the last five years whre cash flow was negative. Second the loan prepayments I believe was simply a natural reaction to lower interest rates. The write offs were a result of honest accounting because when assets disappear from the balance sheet you must take a charge against earnings. What I don't have a good understanding of is CNC's business. I'm trying to decide if I should hold the stock in the merged companies or sell. BTW my target for GNT was about $50 so I don't believe CNC overpaid.

To: John Carragher who wrote (686)	4/9/1998 1:34:00 AM
From: dfloydr	Read Replies (1) \| Respond to of 4155

<<he expects investor sentiment to turn around on the deal.>> Not me! Well, actually I have turned around .. I have several times gone long CNC over the last few years and generally done well. But now ... dread disease insurance .... high risk mobil home loans ... all seems geared to taking advantage of the unsuspecting ... I have lost my appetite. In a down turn, there could be a lot of cancellations and problems .... I think these two execs have gotten a case of hubris to a higher power. Hope for the longs that I am wrong. Floyd Russell