Joe Herrick Of Gutterman Research Is My Personal Hero

An amazing story in the WSJ this morning about a guy who lurks on earnings calls, pretending to be a Wall St. analyst, getting in the Q&A queue by giving a false name to the analyst. Then, when called, he corrects the conference call coordinator, he gives a different name, and asks some wonky call about supply chain management. Per the WSJ's example:

Congratulations on the solid numbers -- you always seem to come through in challenging times... Can you provide some more color as to what you are doing for your supply chain initiatives to reduce manufacturing costs per hectoliter, as you originally promised $150 million in synergy or savings to decrease working capital?

Here's a link to all the times his name comes up on SeekingAlpha's transcripts.

Not surprisingly, since nobody wants to look stupid, CEOs usually try to answer the questions. It's totally understandable.

The whole thing reminds me of my idea for a business talk show on TV. It'd be a normal thing, like Kudlow's show or something -- hosts plus a few guests. But from time to time, I'd ask some question that was factually totally inaccurate... like, "what do you make of the fact that x saw significant margin pressure during a period of decreasing raw materials costs...?" And then we'll see if they're smart enough to say "I've got no idea" or if they try sound intelligent. The idea was inspired by that Apple/AMD/Abu Dubai episode on Fox Business News a few months ago, when that guy tried sounding intelligent at news that didn't make any sense.

In the meantime, can we get more Joe Herrick's of Gutterman Research? Please? Maybe not so focused on weird supply chain stuff. Or maybe, actual real analysts could ask some more interesting questions, rather than "What's your view on the economy, and what kind of levers can you pull in the event that you see softness?"

Comments

[no_slappz]

I'm betting that Joe Herrick with Gutterman Research read "Letters from a Nut" by Ted L. Nancy, widely believed to be a pseudonym for Jerry Seinfeld.

He should ask some better questions, questions that are seemingly answerable but ultimately ridiculous.

[Eric Davis]

I think it's hilarious. Truth be told how they deal with it tells me more about that company than any question an analyst ever asks.

and honestly we should all be asking ourselves how we are using "Six Sigma and lean manufacturing to improve throughput."

and analyze what metrics we are using for RONA and/or OEE to keep ourselves number one in our industry.

and congratulations on a great quarter.

Those that can't take a joke, or take offence just reinforce what shills they really are.

[Laura]

From Wikipedia:

Joseph Herrick (August 6, 1645 - ca. 1710) was the principal law enforcement officer in Salem, Massachusetts during the Salem Witchcraft Trials of 1692.

Some sort of tongue-in-cheek symbolism here?

[Dave]

Like others, I wish he would have been a little more creative with his questions. The concept itself has huge potential. He has shown that he can implement the concept. But the content of his questions are not absurdist enough to actually be funny (ala Ted Nancy). He is essentially asking legitimate questions regarding lean and 6s and injecting a bit of jargon. Joe, if you're reading this-- make your questions absurdist. Need some inspiration? Pick up the original "Letters from a Nut" by Ted Nancy.

[Humberto]

Joe Herrick is a genius. He is putting these companies in their place.

[James Abrams]

Gimme a break. "Joe Herrick?"...
Rich Joker

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[VicTorini]

I worked with Joe Herrick. Joe Herrick is a friend of mine. Joe Herrick is a self starter, as much as he is a team player with a mighty work ethic who loves his wife and kids.

Joe enjoys his single malt each Friday afternoon, as much as his Sunday morning round of Golf at the Westchester Country Club. There's no mystery about Joe, beyond the myths that have been published about him.

When Joe was passed over for promotion in favor of a partner's nephew, he grew disaffected, locking the door to his office for hours, as he would watch the silver balls swing back and forth on his desk, clicking, clicking, and clicking. However, Joe's reputation served him well, and soon there were no shortage of head hunters ringing his phone.

Joe eventually moved on, and it was well known that lesser minds made a political football of his career. Joe joined Gutterman just after 9/11, and works from his home office in Tarrytown, New York with his Bulldog, Fluffer.

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