Hoax Analyst Showing Up On Earnings Calls

from the six-sigma-indeed dept

I don't follow the process behind earnings conference calls too closely, but apparently there's an element of trust involved. People dial in, tell a moderator who they are, and a bunch of analysts from the most well-known firms are allowed to ask questions. That system is ripe for gaming, and apparently, some unknown guy has been doing exactly that over the past few months, calling into earnings calls and getting to ask questions by pretending to be someone else. No one seems entirely sure what game the guy is playing -- but it doesn't appear to be an attempt to hoax the overall system or be a practical joker -- as his questions aren't amusing. He just brings up odd questions about operations: supply chain initiatives, lean manufacturing, six sigma, etc. That has some believing that he's really working for some consulting firm, either trying to dig up dirt on other company's operations, or even trying to kick up more interest in supply chain work. Either way, it's fairly amazing to find out how the conference call system works and how easy it is to game. It's surprising that this hasn't been done more frequently, honestly. In response, some firms are now handing out special codes to analysts to let them ask questions in future conference calls, rather than just relying on who people say they are -- though, of course, that brings up a different issue: what's wrong with letting people other than your preferred analysts ask questions?
Hide this

Thank you for reading this Techdirt post. With so many things competing for everyone’s attention these days, we really appreciate you giving us your time. We work hard every day to put quality content out there for our community.

Techdirt is one of the few remaining truly independent media outlets. We do not have a giant corporation behind us, and we rely heavily on our community to support us, in an age when advertisers are increasingly uninterested in sponsoring small, independent sites — especially a site like ours that is unwilling to pull punches in its reporting and analysis.

While other websites have resorted to paywalls, registration requirements, and increasingly annoying/intrusive advertising, we have always kept Techdirt open and available to anyone. But in order to continue doing so, we need your support. We offer a variety of ways for our readers to support us, from direct donations to special subscriptions and cool merchandise — and every little bit helps. Thank you.

–The Techdirt Team

Filed Under: analyst calls, hoax

Reader Comments

Subscribe: RSS

View by: Time | Thread

  1. identicon
    JustMatt, 19 Feb 2008 @ 4:39am

    Back on the Bar Mitzvah thing...

    I was not aware this feature existed in your product. I would like to subscribe to your newsletter.

    Back on topic I will point out that earnings calls have a finite block of time, and bogus person x is taking time away from legitimate participants, reducing the flow of information necessary to determine the financial health and prospects of said company, thereby harming investors. Since I assume he is reading this blog this morning I'll add a secret hidden note for him: L00ser!!

Add Your Comment

Have a Techdirt Account? Sign in now. Want one? Register here

Subscribe to the Techdirt Daily newsletter

Comment Options:

  • Use markdown. Use plain text.
  • Make this the First Word or Last Word. No thanks. (get credits or sign in to see balance)    
  • Remember name/email/url (set a cookie)

Follow Techdirt
Essential Reading
Techdirt Deals
Report this ad  |  Hide Techdirt ads
Techdirt Insider Discord

The latest chatter on the Techdirt Insider Discord channel...

Recent Stories

This site, like most other sites on the web, uses cookies. For more information, see our privacy policy. Got it

Email This

This feature is only available to registered users. Register or sign in to use it.