Re: [CANSLIM] Life Insurers next?

From: Kent Norman <kent_norman@yahoo.com>
Subject: Re: [CANSLIM] Life Insurers next?
Date: Sun, 11 Aug 2002 18:19:36 -0700 (PDT)

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Norman

Although I am not sure if we are anywhere near the bottom, I don't
think we have to clear all the accounting scandals before they become
old news. One sign on a bull market is that it shrugs off bad news -
not that bad news ceases to exist.

My 2 cents
Kent Norman

- --- Norman <theboyd@tisd.net> wrote:
> Tom,
> 
> I would think even you would find it difficult to maintain a bullish
> outlook
> in this environment<grin>
> Sure seems that with all the defaulting going on by mega-large
> companies
> that we can't be at the bottom yet, much less in a rally.  Someone
> has to be
> taking a big hit from all this red ink.  The M in CAN SLIM will be a
> long
> time coming around, IMHO.
> 
> There, is that enuf bearish sentiment to get things going again<G>?
> 
> Norm
> ----- Original Message -----
> From: "Tom Worley" <stkguru@bellsouth.net>
> To: "CANSLIM" <canslim@lists.xmission.com>
> Sent: Sunday, August 11, 2002 6:27 PM
> Subject: [CANSLIM] Life Insurers next?
> 
> 
> > Looks like the ratings agencies are getting concerned over life
> insurance
> > companies exposure to bonds issued by now bankrupt companies, and
> potential
> > ones in the future. Moody's estimates their exposure to Worldcom,
> Dynergy
> > and Qwest at a petty $23 billion so far. S&P already lowered their
> rating
> on
> > the group from stable to negative.  While their portfolios are more
> > diversified today than a decade or so ago, another big hit could
> lead to
> > some being downgraded. And I would expect some of the ones more
> exposed
> are
> > likely to suffer on the earnings side of things as they absorb and
> write
> off
> > the now non performing portion of their investments.
> >
> > Tom Worley
> > stkguru@bellsouth.net
> > AIM: TexWorley
> >
> >
> >
> > -
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> >
> 
> 
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