Headline: Komansky’s put-down Source: Euromoney Date: April 2001 Author: Antony Currie
Komansky was in good spirits. His firm is riding high at present, with concerns about having a backward approach to online investing now firmly behind it. So he was in the mood for a bit of a joke. Up stepped Amy Butte, the brokerage analyst for Bear Stearns, to ask her questions. Komansky decided to tease her. “He said something along the lines of ‘that wasn’t a particularly good question’,” says a witness. “So Amy hit back immediately with: ‘so when do you think we should downgrade you then?’” Komansky’s response was just as quick, and much more acerbic. “That doesn’t really matter, Amy,” said Komansky. “Because no-one takes any notice of you anyway.” Investors and other analysts were stunned. Here was the CEO of one of the major brokerages being openly rude to one of the most influential analysts on the Street. |