A couple days ago, we passed along some comments from CLSA analyst Mike Mayo, who claimed he was not allowed to ask a question on the Bank of America conference call, an anecdote he used to bolster his argument that management was being evasive.
Basically, he claimed he was censored.
Not so fast. According to Charlie Gasparino, the whole story should be a big embarrassment for Mayo:
Sources tell the FOX Business Network that Mayo didn’t call a special telephone number reserved for analysts so they could ask company officials questions about the bank’s third-quarter results. Mayo was the talk of Wall Street Tuesday after he issued a controversial note claiming to be shut out of the conference call because of his negative coverage of the Bank of America’s stock, which spiked higher after decent earnings for the third quarter.
Apparently Mayo’s commentary caused such a buzz that BofA went around to investors to reassure them that the critical analyst was not muzzled.
We remain a little sceptical, but if true, embarrassing.