CEO GOES INSANE ON CONFERENCE CALL

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My oh my guys just when you think you have seen it all you see something like you’ve never seen before a ceo lost it on a conference call worse than i’ve ever seen any ceo lose it on a conference call before i’ve been on many conference calls in the past where a ceo will get frustrated with an analyst questions or maybe be a little snarky back or something like

That or maybe just kind of be a little mad and just kind of in like that type of mode you know you’re getting a lot of questions from analysts and and sometimes they’re negative questions you don’t want to answer i mean you’re used to be in the big boss all right and you don’t want to take their crap it and sometimes it gets a little frustrating okay especially if

The analysts are negative on your company however this situation this ceo took it to a whole nother level okay talking about the analyst might do suit or should do suicide or something like guys this is this is ridiculous okay so first off for a little backstory on what this company is it’s actually a pretty big company okay it’s a company called cleveland cliffs

Which operates an iron ore mining company in the united states the company operates four iron ore mines in michigan and minnesota they also have a set up in australia okay it sells his products to integrated steel companies and steel producers in the united states in asia pacific all right this company’s been around for a long long time and this is a company that

Has a market cap over three billion dollars okay the company that’s worth over three billion dollars it has a trailing p/e of around seven a four p of around six very very low all right and after we see the stock is falling over seven percent here today after the ceo pretty much completely lost it and if you look at the stock chart on this stock and it’s a pretty

Decent stock you know i mean look at the six months this was a stock that was under $7 and now it’s over $10 so it’s not like it’s a stock that hasn’t performed at all it’s actually had a pretty good 2018 all right now the ceo who lost it this guy lucy no don claves all right he was appointed chairman president and ceo of cliff’s in august of 2014 so he’s been in

That position for quite a while over four years now since joining the company has implemented and been executing a strategic initiative designing to strengthen cliffs position as a major supplier of iron ore palates to the u.s. steel industry alright so pretty pretty interesting and you can read the more of his backstory there so now let’s get into exactly what

Was said here on this conference call all right he just completely luzie says it’s on this is quote from him it’s unbelievable that these big banks still employ these type of people you should resign for your lack of knowledge of things it’s not like you don’t understand you’re one of the very best it’s not like you don’t understand our business you don’t understand

Your own business you are a disaster you are an embarrassment to your parents like this is coming after an analyst guys this is ridiculous i’ve never seen the ceo lose at this bet you’re an embarrassment to your parents he says with this being said we are going to use our money to reward the long-term shareholders so if the stock continues to go down based on these

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Kids that play with computers and somebody else’s money we’re going to buy back stock we’re going to screw this guy so badly that i don’t believe that they are ever going to be able to resign they will have to commit suicide guys are you serious are you serious with this guy yeah this is that i never seen a ceo lose it like this ever in my life this is insane so

We’re gonna screw this guy so badly that this will be fun to watch that will be my first priority other than the two top priorities of finishing hbi and paying down debt you were immediate you are meeting with the wrong guy that’s my message to you like are you serious with this guy’s are you are you i’d like i was reading this i’m like a ceo of a major company a

Company worth three billion plus dollars is saying this and a scullion analyst named barrett like i completely understand a frustration a ceo or anybody can have with an analyst okay we all get frustrated with them they come out and say something negative about one of our stocks sends a star like i have a i hold a lot of stocks that analysts just don’t see the

Vision for something like that and i’m like i think that analyst is wrong i think over the long term they don’t see the vision i think i see the vision i’m sure we all feel like that you know from time to time and a lot of analysts have you know or really unsuccessful as beyond us okay i’m certainly not the biggest fan of analyst out there a matter of fact i’m

Probably analysts are probably one of my biggest enemies however there’s a difference between being now not agreeing with an analyst or feeling like you don’t like analysts and saying things like you there are an embarrassment to their parents or saying things like they’re gonna have to commit suicide they this is a whole different level okay you go from this is

A competitive game this is a money game to now all of a sudden you’ve taken it to such a deep dark place that this is this is really ugly guys okay so gone clegg specifically went after goldman sachs analysts matthew corn saying you can run but you can’t hide corn has a hold rating on the shares okay let’s read more of this so lisa p this is more from him okay

Lisa before you go called on the next question or there guy named matthew corn this guy doesn’t that not speak of it you know perfect english obviously waiting on the line to ask to a question he is he calls himself an analyst and he works for goldman sachs oh matthew corn if you’re in the call why don’t you ask a freaking question i’ll be happy to answer okay

Who is next lee lisa with that we are done in matthew corn from goldman sachs you can run but you can’t hide i will see you at the goldman sachs conference very soon and bring your commodity desk guy because you owe me for the last year okay so whatever something happened last year he owes him for it will be easier for you if you have the commodity desk guy with

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You for interviewing me if you are alone it will be a lot worse it will be bad no matter what but it will be a lot worse if you’re alone bring the commodity desk guy and he really wants them to bring the commodity desk guys or girls with you like because you promised you last year that i will take care of her next time next time is coming i’ll see you guys through

Soon thank you for joining me on this call today guys this is insane like like literally i’ve never seen something like this in ten years of you in the stock market and even like studying you know way prior to me being in the stock market i’ve never seen analysts go this crazy like this is this is like scary crazy okay like like what is wrong with this dude like

He has completely gone off the rails alright now it’s a very confusing situation because i don’t know why he’s so mad at this matthew corn guy specifically if there’s anyone he should be mad at it’s this guy named gordon johnson so gordon johnson back in 2017 remember the ceo mentioned something about last year okay so gordon johnson in 2017 he said that you know

Cliff ceo who would purchased some shares of the stock he said it’s a sell signal this was like pretty friedel a little dirty by this analyst okay you don’t usually see something like that it’s pretty disrespectful i’m gonna say something like oh the ceos buying his own stock that’s a sell signal because he always buys at bad times that’s basically what this guy

Said named gordon johnson however this is a totally different guy because okay a goldman sachs it looks like they initiated cleveland cliffs back in march okay back in the spring with a neutral rating it wasn’t even like it was a negative rating so i’m so confused on why the ceo is coming about i was so hard a bagginses matthew corn guy i think if anybody he was

To come out hard again so once again he shouldn’t have came in but anybody that’s hard okay but if you wish to come out of anybody i would assume it would be that gordon johnson guy cuz that’s the guy that last year and he mentioned last year said oh if the ceo buy shares it’s a sell signal cuz he always buys at bad times or whatever okay so i’m amazed that he’s

Coming this far over on this guy matthew corn for goldman sachs who looks like they initiated coverage back in the spring with a neutral rating it’s not even a negative rating like a neutral means you’re just you don’t feel bullish on the stock you don’t feel bearish on the starks nothing he says it’s a strong sell you you basically have five different ratings

There could be a strong sell which means you know you want your clients to flood out of that stock heads it doesn’t matter what price is gathering it there’s also a sell which means you know strategically sell your shares off there’s a hold or a neutral which just kind of means like like you’re indifferent about the shares you just think it’s gonna probably you

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Know do whatever there’s also a buy which means you should usually are kind of like recommending your clients to buy shares and then there’s a strong buy which means you say just get in that stock anyway possible okay this matthew cornyn looks like he has a neutral rating so i cannot understand why this ceo is coming so hard against his matthew corrin once again

If anything it should’ve been the johnson guy he came after because that’s a guy that we you know that’s a little disrespectful to say as an analyst old i see you don’t bought shares i’ll go ahead and sell that stock cuz that he buys at the worst times or something like that’s kind of a little that’s kind of a little left okay but my goodness guys like regardless

Like tell him the guy he’s an embarrassment to his parents like lately like this was taking things way too far this ceo completely lost on that conference call and the worst thing about this for if for shareholders out there is this is gonna scare away a lot of shareholders from the company now because they’re looking at this and like if that guy went that crazy

Over this analyst what’s he what are the potential him to go against an employee or something like that or a competitor like like this guy might not be the most stable guy that’s the way people are gonna look at this now for saying stuff like that like like this is insane guys like i’ve seen ceos lose it like i said many times on conference calls or not lose it

But get frustrated or say you know can we take another question or that’s a stupid question or something like that there’s a whole different ballgame between that and what this guy said so this is unbelievable guys i want to hear your guy’s opinion down there in the comfort on the comments section have you ever heard anything like this a ceo act this way like this

Is the most insane thing i’ve ever seen you know it just takes things to a whole new level when you’re talking about people doing suicide and embarrassment to their parents and stuff like that that’s a whole nother level like you would think about the one of the most out there aggressive people against like short sellers or negative analysts might be elon musk

But even elon musk you know he might say oh i’ll buy you short shorts or something like that or his maybe most aggressive thing was will burn the shorts or something like that you know and we’re gonna get the stock up or whatever nothing around suicide and like it’s like that’s just different less different level guys that’s that’s taking it to a really really deep

Dark place so anyways want to hear from you guys down there in that comment section as always thank you for watching have a great day

Transcribed from video
CEO GOES INSANE ON CONFERENCE CALL By Financial Education

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