“won the overall prize for being top research house and I’d bet my last dollar their expense budget took a serious hammering to achieve that. That’s because when the fund managers at places like the Prudential or Fidelity fill in their voting forms the lucky winners tend to be those who took said client out on the razzle to a Michelin starred restaurant and then a high-class strip joint. I know this because, for my sins, that’s how I became the number four ranked analyst in my sector and interestingly it was the ‘status’ resulting from that ranking that resulted in certain banks foolishly deciding to pay me a disgustingly huge amount of money. It wasn’t my ability, knowledge or hard work – it was simply a product of my resilient liver and intestines.
When any client is debating about who to vote for they generally have a simple choice: the diligent boring buffoon who could compose wonderful spreadsheets and write the odd vaguely interesting research note or the bloke who didn’t know that much but sure knew how to order a bottle or seven of Chateauneuf du Pape at Quaglino’s and never had a problem barging his way into Stringfellows at 1.30am. Whilst the conscientious character slaving away every night until 10pm trying to analyze the 2014 cash-flow from some tedious company’s minor sub-division might occasionally win friends and influence people the smart money’s got to be on the vaguely charismatic piss-head who knows where to buy the best foie gras.”
Gotta love Geraint Anderson