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

To: Ron Dior who wrote (736)	5/29/1998 1:23:00 PM
From: dfloydr	Read Replies (1) \| Respond to of 4155

CNC has had a long streak of good results. For the past year or so it has stalled in the 40-50 range. Now they are acquiring Green Tree something or another corporation - I think they finance mobile homes? I fail to see that as making any sense. They have also lately come to own a riverboat casino. These look like deals put together at the nineteenth hole after a few two many. As to stock ownership, management has, in my opinion, stretched the company credit beyond acceptable limits to enable employees to buy heaps of stock. So far they are at about break even on those personal investments. Again, looks to me a bit too self serving. Also some on the thread who live in Carmel have mentioned that management is busy building themselves huge houses and acquiring other toys. That has always been a bad omen for shareholders. Needless to say, I am out and no longer in a hurry to be a buyer. A lot of people scorned Ray Dirks for his negative appraisal of this stock about a year ago. While the outright disaster he foretold has not struck, not much else has happened to support management's glowing views either. I expect CNC to stay tangled up in the 40-50 range for a long while. They are no longer the clean play they have been over the years and I think stock holder interests have become secondary.