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February 17, 2008
Hoaxing the Equity Analysts: But Can You Hoax a Hoaxer?
I'm mildly amused by the WSJ story this weekend about someone hoaxing his way onto company quarterly earnings calls. Here is an example from a recent Newell Rubbermaid c/call:
Operator: Your next question comes from Budd Bugatch with Raymond James and Associates.
Caller: Yes, this is actually Joe Herrick with Gutterman Research. A couple of things for you guys. Mark [Ketchum, CEO], regarding your operational improvement initiatives for 2008, what are going to be your top initiatives regarding lean, mean manufacturing, keeping in the Six Sigma? What effects do you see benefiting the bottom line?
Cute, of course. And it points out how difficult it can be to screen callers on company quarterly calls, especially if they're willing to pretend they're someone they're not.
But the preceding said, this is fairly weak and unconvincing faux analyst stuff. Even real analysts like Mary Meeker do better at coming with up with ominous but empty questions -- and Mary poses her faux questions as real ones.
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