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CNO Financial Group, Inc. Message Board

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  • papadop007 papadop007 Nov 7, 2008 11:02 AM Flag

    Give me ten sweet reasons to buy this stock

    To be Honest, CNO has a terrible history of performance. I can remember Greentree, BK, and now it's this LTC which destroyed $1.2Billion dollars for shareholders.

    But we always have to be objective and think forward. GE has near perfect past performance but folks are still selling it down.

    Book Value at end of 2007 = $24/share
    With LTC divestiture, it drops to $18/share. Included in this book value is NOL (tax credit asset). Not sure how to value that asset going forward (because I barely see it being used). But CFO/CEO gave mention to a bottom figure of $12 book value with 11% ROE giving $1.30/share/year.

    I believe we will have a January effect which will elevate most beaten down stocks to a more reasonable valuation plateau. I predict CNO will plateau between $5 - $7 by February. But even then, it looks like a very takeover target in the $11 range.

    The sad news is of course the general state of the economy, there will be unemployment in the 7% range for most of 2009. Folks need to pare back their spending it was unsustainable.

    Good luck with your investments.

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