In some ways, Cleveland-Cliffs CEO Lourenco Goncalves is just another South American-born, Trump-loving millionaire mining executive. But in other ways, Lourenco Goncalves is an unhinged middle-aged baby who can’t stand seeing his company get a “Hold” rating from Goldman Sachs.
After just one solitary analyst question during this morning earnings call, Goncalves decided to go full “Elon Trump” and say this:
It’s unbelievable that this big banks has still employ this type of people, you should resign for your lack of knowledge of things, it’s not like that you don’t understand, you are very one of the best, it’s not like you don’t understand our business , 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. 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 this guy so badly that I don’t believe that they will be able to only resign. They will have to commit suicide.
Hahaha, solid bit Lourenco. This guy is a card. We wonder who he was referring to?…
Oh, he wasn’t capable of being subtle? We’re shocked.
Later in the call, Goncalves interrupted his operator with this advice:
Lisa, before you call the next question; are there a guy named Matthew Korn waiting in line to ask a question. He calls himself an analyst and he works for Goldman Sachs.
Aww, Matthew Korn if you are on the call why you don’t ask a freaking question? I will be happy to answer. Okay. Who is next Lisa?
And then he ended the call thusly:
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 will 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 desk guys or girls with you because I promised you last year that I will take care of him, her next time and next time is coming. I’ll see you guys soon. Thanks for joining me this call today, bye now.
Matthew Korn has a “Hold” rating on Cleveland-Cliffs. Imagine what a tough guy Lourenco Goncalves would be if he wasn’t overweight…we mean “Overweight.” Sorry, we’re trying to say that Lourenco Goncalves is ugly.