an alternative embodiment of the cutting tool is illustrated in fig5 and 6 in this embodiment an insert 21 is shown which is more elongated than the insert 11 in particular the height y of the insert tip 22 is less than 0 25 of the total height x of the insert 21 and the insert tip the insert 21 is shown in fig6 mounted in the tool body 10 a third embodiment of the cutting tool according to the present invention is shown in fig7 and 8 the tool according to this embodiment includes a tool body 30 an insert body 31 an insert tip 32 and a ring 33 the ring is preferably formed of a carbide material as shown in fig7 the height y 39 of the insert tip 32 is approximately one third of the total height x 39 of the ring 33 and the insert tip 32 the carbide ring 33 provides a similar function to the shoulder 13 in the embodiment shown in fig3 and 4 in each of the embodiments discussed above the insert tips are preferably half of the total height of the insert or less the insert tips each have a conical working surface which.