I went on one trip to various HQs arranged by sell side and at one of the companies they had three 30ft long tables arranged in a U shape with chairs around the outside of the U and the CEO at the bottom/outside the U. This one kid who had been crazy obnoxious the whole trip grabs a chair for the outside, takes it inside the U and sits directly in front of the CEO and starts drilling him on modeling Qs. The CEO kind chuckled and brushed it off, kid just kept going and ceo left.
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Analyst repeatedly asking CEO when he was going to sell the company, who the best buyers would be, why it hadn’t been sold yet was definitely up there
Heard one guy (I think he was joking):Analyst: How's unit price trending through the quarter?Mgmt: ….IR: Our guidance outstanding for the quarter is 3-4% as we noted in our releaseAnalyst: So…. Is it feelin' a little curvy or a little sharp?
Found it super-annoying when a HF manager told mgmt "oh we've been talking for so long, it feels like family"...I'm guessing she'd made a shitton of PnL on it to be so happy about it but still just weird and unprofessional.
Other things that piss me off:
Any guy who think its his god-given right to ask all the questions, cut off other people and make sure to get his points in. I get it...you wanna make your PM proud but everyone's trying to be courteous and still get their questions in.
Also...when I was a more LT investor, got pissed off by people asking about margin deterioration of < 50bps in Q2 and what that implies for back-half weighted guidance, etc. When I was a pod monkey, I got pissed off by LO/LT guys asking about culture, and 5-yr ROIC.
Oh your first one…. Congrats mr PM you’re the VIP, your relationship with CEO is so exclusive and impressive!
I was guilty of number 2 sometimes, with other pods in my fund. If it’s our third 1x1 today and you asked the first 2 “I missed the presentation uh what was the recap again?” Your time becomes mine, you’re welcome for the insights you’ll be able to glean from my questions. I assume I actually came off like (or was) a prick but… there’s your insight into the mindset of “that guy”.
But I never had the balls of steel as guy who just decides he’s gonna stick around the next funds meeting cause he was a little late or wants some extra time
The CFO said "we provided guidance of 10-15% growth for next quarter". This client who looks like a recent college grad spent the next 30 minutes trying to sniff out whether it's more like a 10% or a 15% growth, in 200 ways of questioning the CFO.
I was in China and we were waiting forever for a ceo to show up for a meeting. He was late, it was 9pm at night. Long story but we were all exhausted and every pm/analyst in the room knew each other.
He finally gets there, we sit down and all exchange information. I asked the CEO how they’d respond to X event happening. It was an important but fairly off the wall hypothetical because no one expected it to happen.
And another person I know who had been in the business for 1-2 years interrupted and said “That could never happen and if it did, they’d respond by do this.” And the ceo basically then didn’t answer.
Another one - pod shops send 10 people to the same meeting, even multiple from the same team/pod. And so there are 14 of us in what’s supposed to be a 4x1 and they behave as they they get 10/14 of the time because they’re 10/14 of the bodies in the room.
chad mm vs virgin sm
On a 1x1, CEO fucking ate yogurt at the same time.
You win
LOL should mention he was also visibly in PJ. World could be collapsing and he was ready to answer my diligence questions. Point is he still won me over.
Group meeting with a large cap software company CEO (guy is a billionaire). Pod monkey spends most of the meeting asking insanely detailed modeling questions and ruined the meeting.
“If I look at your Q4 to Q1 sequential growth backing out the one time item from Q4 it seems like you beat your guidance by 50bps less than your typical beat relative to the mid-point of guidance though you talked to strong bookings in the quarter. Were the bookings weighted towards the end of the quarter implying that your Q2 guidance could be conservative?”
Maybe ask IR this (maybe), but not the CEO of the company in a group meeting lol
why are you upset at this? this is the type of question that makes you $ - if you can realize growth is actually decelerating but they're masking it with one time adjustments.
Mine is kind of on the other end of the spectrum. I was in a meeting with maybe a dozen other people from my MM. More than half the guys in there just looking at their p&L or moves in the market, never taking their eyes off the screen while 3-4 of us asked all the questions.
Really annoying when people from your own firm are either unprepared, freeloading off others' work, or both.
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