And you thought Elon Musk lost it…
During the earnings call this morning, Cleveland-Cliffs CEO Lourenco Goncalves, 60, unleashed a torrent of abuse at a Goldman Sachs analyst (as well as short-sellers) threatening to
The call did not end well:
“…before you call the next question, is there a guy named Matthew Korn waiting in line to ask a question.
He is – he calls himself an analyst and he works for Goldman Sachs.
Matthew Korn, if you are in the call, it is still 10:42, why you don’t ask a freaking question. I will be happy to answer.”
And after answering a few questions – amid a call that was calm and orderly – Goncalves went full Musk…
“…some of the analysts that can’t read numbers…
It’s unbelievable that this big bank still employs this type of people, you guys should resign for your lack of knowledge of things, because it’s not like you don’t understand… you are one of the best, it’s not like you don’t understand our business, you don’t understand, you don’t understand your own business.
You are a disaster. You are an embarrassment to your parents. With this being said, we are going to use money to reward the long-term shareholders.”
Goncalves then switched to attacking the shorts:
“So if the stock continues to go down, based on these kids that play with computers and somebody else’s money, we are going to buy back stock.
We are going to screw these guys so badly that I don’t believe that they will be able to only resign. They will have to commit suicide. So we are going to screw these guys so badly that it 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 are messing with a wrong guy. That’s my message to you. I’m going to do with you exactly what I have been doing in Nashwauk for a while. So you’re going to be the next in line. Remember, you are my next shoe bucket shot…
…it will all be done to inflict maximum pain to these guys. I wake up in the morning every day, looking at these guys and I’ll go to bed at night every day thinking about this guys. And that’s a bad place to be. That’s the message that I would like to deliver in this call.”
Goncalves regained his composure and addressed a few more questions before the call ended but, an unverified speaker right at the end, unleashed this tirade…
“Yeah. With that, we are done and Matthew Korn 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 that for the last year. It will be easier for you if you have the commodity desk guy with you interviewing me. If you are alone, it would 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 that guys or girls with you because I promise you last year that I will take care of him/her next time and next time is coming. Probably time is there, the clock doesn’t stop. I’ll see you guys soon. Thanks for joining me this call today. Bye now.”
The question is – will Twitter ban Goncalves for hurting Korn’s feelings?