Whoops: Analyst Says Bank Shut Him Out of Phone Conference, Turns Out He Dialed Wrong Number
10:46 am, October 25th | by Amy Tennery
Credit Agricole Securities banking analyst Mike Mayo was up in arms after allegedly being boxed out of a conference call for Bank of America. He believed that the bank had purposefully shut him out of the call because of… well, there really was no good reason. Which is probably why they didn’t actually do that.
Here’s how he described the kerfuffle at the time, according to Fox Business:
“This action by the company appears to us to be more insular than they have acted in the past, and diminishes our trust and confidence in the results they presented — even if the shares are trading up 7 percent post call.”
Of course, he was wrong. Mayo reportedly called a different number that Bank of America issued the week prior, which would explain why he couldn’t get through to the call. And Fox Business took great pains to point out that “Mayo appears to be the only major Wall Street analyst to confuse the two telephone numbers” (emphasis ours — nice bodyslam, Fox).