1 00:00:05,600 --> 00:00:08,400 Look, as much as I love spending these calls ducking and weaving, 2 00:00:08,400 --> 00:00:10,520 I'm not sure why I'm getting such a grilling 3 00:00:10,520 --> 00:00:12,120 from the bank that brought us to market. 4 00:00:12,440 --> 00:00:14,760 Henry, it's Frank Wade, Pierpoint Equity Research. 5 00:00:14,760 --> 00:00:16,280 I need to publish a buy-sell recommendation 6 00:00:16,280 --> 00:00:17,720 by the end of the week. 7 00:00:17,720 --> 00:00:19,480 And the eight-percent fall in share price 8 00:00:19,480 --> 00:00:21,760 means the market is finally waking up to the fundamentals. 9 00:00:21,760 --> 00:00:23,080 But, of course, there's always-- 10 00:00:23,080 --> 00:00:25,200 Lumi is still the future of the sector. 11 00:00:25,200 --> 00:00:26,720 I've been invited to speak 12 00:00:26,720 --> 00:00:28,720 at the Global Climate Conference this week. 13 00:00:28,840 --> 00:00:30,880 Our panel is going to be a positive catalyst 14 00:00:30,880 --> 00:00:32,680 for the stock, and it will rally. 15 00:00:33,160 --> 00:00:34,800 Do drop in if you're in Bern. 16 00:00:35,080 --> 00:00:36,200 Don't worry, I'll be there. 17 00:00:36,640 --> 00:00:38,960 But getting back to business... 18 00:00:38,960 --> 00:00:41,440 Why is that in-house analyst being so confrontational 19 00:00:41,440 --> 00:00:43,000 about a stock that he's supposed to support? 20 00:00:43,000 --> 00:00:45,160 ...have you modeled any spike in gas prices? 21 00:00:45,440 --> 00:00:47,080 What would that do to your suppressed price point? 22 00:00:47,600 --> 00:00:49,640 I've bought more stock since the lock-up period 23 00:00:49,640 --> 00:00:50,960 ended a few days ago. 24 00:00:50,960 --> 00:00:53,560 You don't get more of a bullish signal from a CEO than that. 25 00:00:54,160 --> 00:00:56,480 Frank does not sound like a guy who's publishing a buy. 26 00:00:56,480 --> 00:00:58,240 To be honest, why would he? 27 00:00:58,520 --> 00:01:00,440 The equity story is just getting worse and worse. 28 00:01:00,440 --> 00:01:02,680 And is it normal for there to be, like, 20 analysts 29 00:01:02,680 --> 00:01:05,080 and a thousand investors on one call like this? 30 00:01:05,080 --> 00:01:07,360 Either it's still a hot story or they're rubbernecking. 31 00:01:08,800 --> 00:01:10,800 Look, Pierpoint publishing a research report on Lumi 32 00:01:10,800 --> 00:01:12,480 at the climate conference could be a disaster. 33 00:01:12,480 --> 00:01:14,920 Adler's on that climate panel with Henry. 34 00:01:14,920 --> 00:01:16,200 With all the chatter on Lumi, 35 00:01:16,200 --> 00:01:18,280 I've no idea how he intends to fight that fire. 36 00:01:20,240 --> 00:01:21,280 Look at our numbers. 37 00:01:21,280 --> 00:01:23,040 We've had record subscriber growth. 38 00:01:23,040 --> 00:01:25,680 That is the key metric for our business. Sub-growth. 39 00:01:25,880 --> 00:01:28,200 We continue to drive new users. 40 00:01:30,080 --> 00:01:32,920 Do you think you could get me a membership at Koko House? 41 00:01:32,920 --> 00:01:34,880 It's not a very hedge-fund friendly community. 42 00:01:35,000 --> 00:01:36,560 Why did you book me coach? 43 00:01:37,400 --> 00:01:39,920 Short haul, lower carbon footprint in the back. 44 00:01:40,560 --> 00:01:44,200 Well, this conference needs to go well after that shitty Lumi earnings call. 45 00:01:44,640 --> 00:01:45,640 How's my diary looking? 46 00:01:45,640 --> 00:01:48,440 After the Lumi panel, you have a sit-down 47 00:01:48,440 --> 00:01:52,520 with the Qatar Investment Authorities, and Carlyle's ESG arm just got back to me. 48 00:01:52,640 --> 00:01:54,040 So, fully stacked. 49 00:01:54,760 --> 00:01:56,520 Harder to get a res with me than Carbone. 50 00:01:59,000 --> 00:01:59,960 Cheers. 51 00:02:00,880 --> 00:02:02,240 Anna hates that phrase... 52 00:02:02,240 --> 00:02:05,400 Has Anna broached a contract renegotiation with you personally? 53 00:02:05,800 --> 00:02:06,960 No. Why? 54 00:02:07,320 --> 00:02:08,800 Her lawyer contacted me direct. 55 00:02:09,400 --> 00:02:12,040 She's offering a re-up. A five-year deal. 56 00:02:12,520 --> 00:02:14,560 As your counsel, this looks a lot like 57 00:02:14,560 --> 00:02:17,520 one of those "Rokos-Howard golden handcuff" situations. 58 00:02:18,040 --> 00:02:19,120 It's a lot of money... 59 00:02:19,120 --> 00:02:22,240 But if I sign and if I'm bid away, or I decide to breach my contract, 60 00:02:22,360 --> 00:02:23,560 Anna lays claim to what? 61 00:02:23,560 --> 00:02:25,880 Five, ten percent of my future earnings for what? 62 00:02:25,880 --> 00:02:28,320 Twenty percent for five years. 63 00:02:31,520 --> 00:02:32,960 That feels spiteful. 64 00:02:32,960 --> 00:02:34,040 I totally agree. 65 00:02:35,760 --> 00:02:39,520 She's also added something called a philosophy clause. 66 00:02:40,960 --> 00:02:41,920 Come again? 67 00:02:42,800 --> 00:02:45,000 To protect the philosophy of the fund, 68 00:02:45,600 --> 00:02:49,200 she wants sign-off on any trade you execute in any size-- 69 00:02:49,200 --> 00:02:50,760 Fucking cunt! 70 00:02:51,920 --> 00:02:54,480 Apologies, that was... beneath me. 71 00:02:55,360 --> 00:02:58,080 So, I'm not allowed to have my own ideas here, 72 00:02:58,080 --> 00:03:00,800 but if I leave and have my own ideas, 73 00:03:01,560 --> 00:03:03,520 she wants the money I make from them. 74 00:03:07,880 --> 00:03:10,360 Have you got other offers on the table? 75 00:03:10,600 --> 00:03:13,360 Your current deal has a pretty iron-clad non-compete. 76 00:03:13,360 --> 00:03:15,320 If you so much as blink at a competitor, 77 00:03:15,320 --> 00:03:18,120 this year's comp becomes fully at Anna's discretion. 78 00:03:22,320 --> 00:03:23,720 What if I become the competitor? 79 00:03:25,040 --> 00:03:26,000 Well... 80 00:03:27,440 --> 00:03:29,520 you'll leave a lot of money on the table today. 81 00:03:30,320 --> 00:03:33,000 Or you can roll the dice on your talent, maybe. 82 00:03:40,480 --> 00:03:41,440 Okay. 83 00:03:42,520 --> 00:03:45,160 Say we're at the negotiation table, make it look like we're interested. 84 00:03:45,640 --> 00:03:46,800 What will that buy us? 85 00:03:47,040 --> 00:03:48,240 Maybe a few days. 86 00:03:51,320 --> 00:03:52,640 Thank you, Simon. 87 00:03:54,400 --> 00:03:56,440 FutureDawn has become a cult of personality. 88 00:03:56,440 --> 00:03:59,000 It's not about the best idea, it's about pleasing Mother. 89 00:03:59,000 --> 00:04:01,160 All she wants to do is sit on another fucking panel 90 00:04:01,160 --> 00:04:02,920 and act like an omniscient moral barometer. 91 00:04:02,920 --> 00:04:04,600 I'm not going to sit here and outperform 92 00:04:04,600 --> 00:04:06,600 while the fund underperforms and collects passive fees 93 00:04:06,600 --> 00:04:08,240 from investors for being politically correct. 94 00:04:09,320 --> 00:04:10,400 Well, then maybe... 95 00:04:12,320 --> 00:04:14,920 her offer just simply expedites your decision? 96 00:04:17,160 --> 00:04:18,320 Would you come with me? 97 00:04:23,440 --> 00:04:24,880 In what capacity? 98 00:04:27,920 --> 00:04:29,360 Jerry Maguire's goldfish? 99 00:04:32,280 --> 00:04:34,400 By your own admission, you like life behind your screens. 100 00:04:34,720 --> 00:04:35,840 You're not a fundraiser. 101 00:04:36,080 --> 00:04:37,320 I can help you sell the fund. 102 00:04:37,600 --> 00:04:40,160 You use your salesman's voice to pitch me as a newfangled 103 00:04:40,160 --> 00:04:41,920 equity long-short with macro-overlay. 104 00:04:42,160 --> 00:04:43,480 - Sell my ideas. - Yeah. 105 00:04:44,120 --> 00:04:47,400 But I back your intellect. So, you back mine, 106 00:04:48,320 --> 00:04:50,720 we test the views together and we back it. 107 00:04:52,880 --> 00:04:53,880 Okay. 108 00:04:54,040 --> 00:04:56,600 But we don't hand-wring, or moralize or equivocate. 109 00:04:56,600 --> 00:04:59,040 You put on the ideas that you think will make money tomorrow. 110 00:04:59,040 --> 00:05:00,160 That's your mandate. 111 00:05:00,960 --> 00:05:03,280 How far along were your other conversations? 112 00:05:03,520 --> 00:05:05,200 Were they like a jump-off for seed capital? 113 00:05:05,760 --> 00:05:06,800 Very embryonic. 114 00:05:07,280 --> 00:05:08,240 How much do we need? 115 00:05:08,240 --> 00:05:10,160 So that banks will take us seriously enough to cover us 116 00:05:10,160 --> 00:05:11,920 and give us research and trading lines? 117 00:05:12,280 --> 00:05:13,480 Three hundred million dollars. 118 00:05:14,160 --> 00:05:16,520 - Shit. - You have Anna's schedule at COP, right? 119 00:05:16,520 --> 00:05:17,560 Yeah. 120 00:05:17,720 --> 00:05:20,440 She is hunting some serious ESG heavy hitters, like, 121 00:05:20,920 --> 00:05:22,720 sovereign wealth funds, asset managers, 122 00:05:22,720 --> 00:05:24,360 very deep pockets. 123 00:05:24,680 --> 00:05:25,640 When are they meeting? 124 00:05:25,640 --> 00:05:27,200 Tomorrow afternoon, after her panel. 125 00:05:28,200 --> 00:05:29,960 Why don't we check if they're morning people? 126 00:05:30,720 --> 00:05:32,360 See if we can get them to join our cause 127 00:05:32,360 --> 00:05:34,560 and swipe them from under Anna's nose before she's hoovered down 128 00:05:34,560 --> 00:05:36,080 that inedible continental breakfast. 129 00:05:36,080 --> 00:05:39,240 These are, like, flagship ESG vehicles. 130 00:05:39,840 --> 00:05:41,240 They're going to a climate conference. 131 00:05:41,680 --> 00:05:43,760 I bet I can prove returns trump ideology. 132 00:05:44,680 --> 00:05:45,840 You ready to sell this idea? 133 00:05:46,480 --> 00:05:47,440 What flight are we on? 134 00:05:50,680 --> 00:05:51,640 Fuck yeah. 135 00:05:55,560 --> 00:05:57,400 As you know, Bill Adler was meant to be 136 00:05:57,400 --> 00:05:59,720 on that Finance and the Climate Crisis panel 137 00:05:59,720 --> 00:06:01,400 with Lumi and FutureDawn partners. 138 00:06:03,080 --> 00:06:04,200 I want you to go instead. 139 00:06:06,040 --> 00:06:08,160 Adler is taking some family time in Europe. 140 00:06:09,160 --> 00:06:11,480 Lumi just had a pretty rocky earnings call. 141 00:06:11,480 --> 00:06:15,240 Well, everyone is pointing fingers about how this has been mismanaged. 142 00:06:15,240 --> 00:06:16,520 Who are you pointing fingers at? 143 00:06:17,280 --> 00:06:19,480 All anyone's talking about in the advisory world 144 00:06:19,480 --> 00:06:21,400 is that we may have overvalued Lumi. 145 00:06:22,240 --> 00:06:24,280 And now all the other companies in our ESG pipeline 146 00:06:24,280 --> 00:06:25,600 are wondering whether we're the right bank 147 00:06:25,600 --> 00:06:28,080 to take them public. Europa Gaz is up next. 148 00:06:28,080 --> 00:06:31,480 Am I right to be concerned about our ESG pivot? 149 00:06:33,040 --> 00:06:35,040 Someone of Adler's level dropping out this soon 150 00:06:35,040 --> 00:06:37,480 after the shitshow IPO is very bad PR, 151 00:06:37,480 --> 00:06:40,080 and it is making Europa even more nervous. 152 00:06:40,920 --> 00:06:44,480 This panel is critical to displaying an air of competency to our clients. 153 00:06:45,240 --> 00:06:47,680 I need you to sit next to the CEO of Lumi 154 00:06:47,800 --> 00:06:51,240 and make it seem like the process was hugely beneficial to all parties. 155 00:06:52,640 --> 00:06:54,200 You want me to oversell it? 156 00:06:54,680 --> 00:06:55,880 Well, that's your job. 157 00:06:56,920 --> 00:06:57,880 Isn't it? 158 00:06:59,640 --> 00:07:03,040 I assume you're fluent enough in the Lumi story to step into the void? 159 00:07:03,040 --> 00:07:05,440 I've got someone in my team very close to the CEO 160 00:07:05,440 --> 00:07:06,480 who could brief me. 161 00:07:06,480 --> 00:07:08,480 Good. You know, when you make partner, 162 00:07:08,480 --> 00:07:10,800 they make it seem like you're at the top of the ladder. 163 00:07:11,920 --> 00:07:13,840 But you're actually just at the bottom of a new one. 164 00:07:21,040 --> 00:07:23,520 No! COP is a conference for business interests 165 00:07:23,520 --> 00:07:24,600 hiding behind climate-- 166 00:07:24,600 --> 00:07:26,000 But there's loads of scientists there. 167 00:07:26,000 --> 00:07:27,920 - Well, I don't understand. How-- - It has nothing 168 00:07:27,920 --> 00:07:29,400 - to do with science. - It's not about science. 169 00:07:29,400 --> 00:07:30,640 Climate change isn't about science? 170 00:07:30,640 --> 00:07:34,000 I don't wanna be that guy, all right? But at this point, the only solution 171 00:07:34,000 --> 00:07:36,120 to climate change is a financial one. 172 00:07:36,120 --> 00:07:38,640 Well, both my bosses and I are going. 173 00:07:38,640 --> 00:07:40,480 Although, I think one of them is more attuned 174 00:07:40,480 --> 00:07:43,760 to the whiff of bullshit coming off of it. 175 00:07:43,760 --> 00:07:46,840 Yeah, Eric wants me to brief him for the panel on the flight over. 176 00:07:46,840 --> 00:07:48,800 Everyone seems to think that Lumi and Pierpoint's panel 177 00:07:48,800 --> 00:07:51,320 at the climate conference is make or break for the Lumi share price. 178 00:07:52,720 --> 00:07:53,680 What? 179 00:07:54,320 --> 00:07:56,360 - What, 'cause I'm not capable? - No. 180 00:07:57,520 --> 00:07:59,800 No, it's Eric's asked me to go as well. 181 00:08:00,120 --> 00:08:01,440 You could have told one of us. 182 00:08:01,440 --> 00:08:03,840 How many buzzwords and pieties can people use 183 00:08:03,840 --> 00:08:05,400 to dress up the hunt for cash? 184 00:08:06,400 --> 00:08:08,720 Yeah, my mate, Gus... 185 00:08:09,120 --> 00:08:12,120 is in Palo Alto working for a VC 186 00:08:12,120 --> 00:08:14,680 called Decarbonization Ventures. 187 00:08:14,880 --> 00:08:16,920 All right, all right, I've gotta go and tutor an eight-year-old 188 00:08:16,920 --> 00:08:18,480 with more expensive clothes than me. 189 00:08:18,480 --> 00:08:20,240 Thank God I remembered to take my Lexapro. 190 00:08:20,680 --> 00:08:22,640 Otherwise, I'd unload a clip into the little prick. 191 00:08:22,640 --> 00:08:24,720 Hey, Digger, let's get the unicorn in. 192 00:08:24,720 --> 00:08:26,400 - Bye, baby. - Is it that kinda night? 193 00:08:26,680 --> 00:08:29,480 Demi Riquísimo's playing Fabric Room Two. 194 00:08:29,480 --> 00:08:32,120 He's going back-to-back all night long with DJ Tennis. 195 00:08:32,440 --> 00:08:34,840 Don't worry, I'm never seeing him again after tonight. 196 00:08:35,840 --> 00:08:37,000 Shame. 197 00:08:37,120 --> 00:08:38,080 Why? 198 00:08:38,080 --> 00:08:42,480 He has a big, uncircumcised hog, which I found 199 00:08:42,480 --> 00:08:45,840 relentlessly distracting on cold and lonely nights. 200 00:08:45,840 --> 00:08:47,720 - He's the full package. - I know. His package is... 201 00:08:47,720 --> 00:08:49,200 Sorry. 202 00:08:49,520 --> 00:08:50,600 Sorry, I've got to take this. 203 00:08:59,640 --> 00:09:01,000 Hi, Denise, how are you? 204 00:09:01,320 --> 00:09:04,080 Hey, I just got a text from an old silk from our chambers. 205 00:09:04,080 --> 00:09:05,120 In confidence, 206 00:09:05,120 --> 00:09:06,480 your dad's boat's back in the U.K. 207 00:09:06,480 --> 00:09:09,120 Okay. How much do you think it's worth? 208 00:09:09,120 --> 00:09:11,400 Valued at 11 million in 2019. 209 00:09:11,400 --> 00:09:12,600 That's great. 210 00:09:13,640 --> 00:09:16,800 I mean, that's great. Right? 211 00:09:16,800 --> 00:09:19,120 And, actually, we've had the interiors done 212 00:09:19,120 --> 00:09:22,440 at Loro Piana upholstery recently, so it might be worth a premium. 213 00:09:22,440 --> 00:09:24,400 No, no, it's not yours to sell. 214 00:09:24,920 --> 00:09:26,440 Charles didn't even own it anymore. 215 00:09:26,440 --> 00:09:28,360 He was leasing it from Hanani Publishing, 216 00:09:28,360 --> 00:09:31,080 and Scotland Yard are investigating it now. 217 00:09:31,080 --> 00:09:34,160 The Mallorcan police are doing interviews with everyone on the boat. 218 00:09:34,160 --> 00:09:35,320 What? 219 00:09:36,520 --> 00:09:37,560 Why? 220 00:09:38,640 --> 00:09:40,440 Are the Mallorcan police going to speak to me? 221 00:09:40,440 --> 00:09:42,520 I don't know. Look, between us, 222 00:09:42,520 --> 00:09:44,120 Hanani Publishing are thinking 223 00:09:44,120 --> 00:09:46,320 about how to make up their losses on the money 224 00:09:46,320 --> 00:09:48,080 your father embezzled from the company. 225 00:09:48,720 --> 00:09:51,880 But we've been through this. You know I don't have any money. 226 00:09:52,520 --> 00:09:55,480 What about your Pierpoint job? Thank God you've got that income. 227 00:09:55,480 --> 00:09:58,240 Yeah, I mean, you don't deserve all this shit. 228 00:09:59,160 --> 00:10:00,400 Speak soon. 229 00:10:12,640 --> 00:10:14,520 Why is Yasmin texting you so late? 230 00:10:16,720 --> 00:10:17,920 We work together. 231 00:10:26,560 --> 00:10:27,680 Do you want me to leave? 232 00:10:31,680 --> 00:10:33,960 Maybe you need someone younger? 233 00:10:35,920 --> 00:10:39,400 Maybe we're in very different places 234 00:10:39,640 --> 00:10:40,720 in our lives. 235 00:10:41,520 --> 00:10:43,040 Oh, my gosh. 236 00:10:46,560 --> 00:10:47,520 Okay. 237 00:10:48,080 --> 00:10:52,800 Oh, God, that is such fucking typical fuckboy prevarication. 238 00:10:53,000 --> 00:10:55,160 Do you know what? Can I make something crystal for you, honey? 239 00:10:55,160 --> 00:10:56,280 You're an old man. 240 00:11:01,400 --> 00:11:03,160 I don't fuck like one though, right? 241 00:11:09,800 --> 00:11:13,000 So, this is just Davos with a fashionable green veil? 242 00:11:13,000 --> 00:11:15,400 Just ESG enough to appease Democrats, 243 00:11:15,400 --> 00:11:19,000 and anti-woke enough not to trigger Republicans. 244 00:11:19,520 --> 00:11:21,880 The highest concentration of financial heavyweights 245 00:11:21,880 --> 00:11:24,640 in the smallest square footage looking for investment there? 246 00:11:25,120 --> 00:11:27,600 It'd be like using sticks of TNT to fish. 247 00:11:28,400 --> 00:11:30,920 We'll use the flight time so you can bring me up-to-speed 248 00:11:30,920 --> 00:11:32,800 on Lumi and the sector comm's flows. 249 00:11:32,800 --> 00:11:35,280 Fly in, present a united front. 250 00:11:35,800 --> 00:11:38,080 Poster children of a new kind of capitalism. 251 00:11:40,920 --> 00:11:42,160 Why are we both here? 252 00:11:43,920 --> 00:11:45,640 Did Henry ask for me specifically? 253 00:11:46,320 --> 00:11:49,280 He did, but that doesn't mean you're not useful to me. 254 00:11:49,280 --> 00:11:52,360 Well, then can I at least help brief you on Lumi during the flight? 255 00:11:53,400 --> 00:11:54,360 Absolutely. 256 00:11:58,960 --> 00:11:59,920 Hi. 257 00:12:06,280 --> 00:12:08,000 So, what's the street saying 258 00:12:08,000 --> 00:12:10,840 in terms of brokers' recommendations on Lumi? 259 00:12:11,120 --> 00:12:13,280 Likely the syndicate banks will publish 260 00:12:13,280 --> 00:12:15,320 a mixture of buy and hold. 261 00:12:15,320 --> 00:12:19,280 Our analyst Frank's the tastemaker in the energy sector though, 262 00:12:19,280 --> 00:12:22,120 so people are waiting on his view. 263 00:12:22,120 --> 00:12:23,160 When's he publishing? 264 00:12:25,280 --> 00:12:29,080 I heard whispers the next 48 hours, 265 00:12:29,080 --> 00:12:31,200 but I imagine it'll be after. 266 00:12:31,360 --> 00:12:34,040 Our research team know to manage the rollout 267 00:12:34,040 --> 00:12:35,760 of positive catalysts on the stock. 268 00:12:36,640 --> 00:12:39,040 His note would be more effective 269 00:12:39,040 --> 00:12:40,760 with breathing room after the panel. 270 00:12:41,280 --> 00:12:43,160 And you're confident it'll be a positive? 271 00:12:43,480 --> 00:12:45,760 I mean, his tone on the call was a bit hostile. 272 00:12:45,760 --> 00:12:48,520 We did the IPO. He knows who butters his bread. 273 00:12:49,120 --> 00:12:51,440 - You got any scotch? - We have Macallan 18. 274 00:12:54,840 --> 00:12:57,160 ...left turn, two-zero-five degrees to... 275 00:12:57,560 --> 00:12:58,760 You know what? 276 00:12:59,560 --> 00:13:02,320 We can drink when we've brought it home. 277 00:13:02,720 --> 00:13:05,080 - ...3,000 feet. Any questions? - No. 278 00:13:05,080 --> 00:13:06,320 - Okay. - Focus. 279 00:13:06,880 --> 00:13:08,240 Safety procedure inspection 280 00:13:08,720 --> 00:13:10,200 before we start the checklist to... 281 00:13:10,400 --> 00:13:12,840 - Mr. Tao! - Hey. 282 00:13:13,840 --> 00:13:15,200 The willing sub. 283 00:13:16,600 --> 00:13:20,200 Look, between us, I'm really glad you're replacing Bill. 284 00:13:20,200 --> 00:13:23,240 I had a preview of his planned panel remarks, 285 00:13:23,240 --> 00:13:25,680 and they were-- they were reading a tad sterile. 286 00:13:27,360 --> 00:13:29,280 Maybe we could folk it up a bit. 287 00:13:29,680 --> 00:13:31,520 Make people really feel something. 288 00:13:31,520 --> 00:13:33,080 Sell the way we feel about it. 289 00:13:33,800 --> 00:13:35,320 Exactly. Yeah. 290 00:13:36,760 --> 00:13:37,840 Well... 291 00:13:38,680 --> 00:13:40,600 Guys, this is actually a tad awkward. 292 00:13:41,320 --> 00:13:43,880 We've got our other cabin for our bankers. 293 00:13:43,880 --> 00:13:45,920 You know... I don't want to be... 294 00:13:46,640 --> 00:13:48,200 that person, but... 295 00:13:48,920 --> 00:13:52,000 you know in the unlikely event of a-- 296 00:13:52,120 --> 00:13:54,360 a crash landing, you'll all be safer in the back. 297 00:13:55,560 --> 00:13:56,760 It's through here. 298 00:13:56,960 --> 00:13:59,080 I've got a couple of friends joining for the ride. 299 00:13:59,080 --> 00:14:02,400 Yasmin, why don't you hang up top with us? 300 00:14:02,840 --> 00:14:05,560 Someone told me you used to work in private wealth at Pierpoint. 301 00:14:05,560 --> 00:14:07,240 I could use a steer. 302 00:14:09,840 --> 00:14:10,800 Absolutely. 303 00:14:11,920 --> 00:14:14,560 Super. Caedi, you don't mind 304 00:14:14,560 --> 00:14:16,480 bunking with the gentleman from Pierpoint, do you? 305 00:14:16,840 --> 00:14:19,640 - Not at all. - Great. Great. 306 00:14:22,560 --> 00:14:23,560 Fab. 307 00:14:23,560 --> 00:14:26,920 Well, guys, it's great to have you aboard. 308 00:14:30,080 --> 00:14:32,360 - Hey, beautiful. How's it going? - Lindt, you fucking tosser. 309 00:14:32,360 --> 00:14:33,520 - Hello. - How's it going? 310 00:14:33,520 --> 00:14:35,360 طلا فیلم تقدیم میکند www.TalaFilm.Top - Who's this? 311 00:14:35,360 --> 00:14:37,440 and calls Diplo "Wesley." That's all you need to know. 312 00:14:37,920 --> 00:14:39,120 Glad to meet you. Pleasure. 313 00:14:39,640 --> 00:14:41,640 Henry has a taste for shiny, new things. 314 00:14:43,920 --> 00:14:45,840 - Excited? - Very much so. 315 00:14:45,840 --> 00:14:49,560 My godfather, Otto, is hosting a drinks mixer tonight. 316 00:14:49,560 --> 00:14:50,960 We'd love for you to come. 317 00:14:56,440 --> 00:14:58,320 Hey. Where do I recognize you from? 318 00:15:00,680 --> 00:15:02,680 You've got that-- that look. 319 00:15:04,280 --> 00:15:05,240 I don't know. 320 00:15:06,520 --> 00:15:07,520 Porn. 321 00:15:09,520 --> 00:15:10,520 No, I never watch it. 322 00:15:12,000 --> 00:15:13,280 Unless it's directed by women. 323 00:15:16,720 --> 00:15:18,840 My family's in the chocolate business, but... 324 00:15:19,800 --> 00:15:22,120 I'm an investor and a producer. 325 00:15:24,880 --> 00:15:27,880 I'm an investment banker. I work at Pierpoint. 326 00:15:28,680 --> 00:15:30,400 I thought you were just dating Henry. 327 00:15:47,600 --> 00:15:50,000 I've got cramp in my jaw from pretending to smile. 328 00:15:51,680 --> 00:15:52,880 They're not going to beat us. 329 00:15:53,480 --> 00:15:54,680 Everybody does. 330 00:15:54,680 --> 00:15:55,920 That's sorta my problem. 331 00:15:55,920 --> 00:15:58,120 Isn't that Frank Wade, our energy analyst? 332 00:15:58,480 --> 00:16:00,760 I hope his mood's improved since that Lumi earnings call. 333 00:16:01,000 --> 00:16:01,960 Frankie! 334 00:16:01,960 --> 00:16:03,840 When are you publishing your buy note on Lumi? 335 00:16:10,880 --> 00:16:12,120 Welcome, Mr. Tao. 336 00:16:12,520 --> 00:16:14,000 - May I have your passport? - Of course. 337 00:16:15,000 --> 00:16:17,000 Are we expecting a fresh dump overnight? 338 00:16:17,440 --> 00:16:21,760 Unfortunately, we are having an unnaturally warm winter. 339 00:16:22,160 --> 00:16:24,600 I have you in a mountain-facing deluxe. 340 00:16:24,600 --> 00:16:27,280 May I have the passport for your guest, please? 341 00:16:27,680 --> 00:16:28,840 Excuse me? 342 00:16:28,840 --> 00:16:30,680 Look-- No, no. 343 00:16:30,680 --> 00:16:31,800 We're not together. 344 00:16:32,200 --> 00:16:33,600 It's Robert Spearing. 345 00:16:36,560 --> 00:16:38,520 Very sorry, sir. 346 00:16:38,520 --> 00:16:41,200 There is no record of a booking under that name. 347 00:16:41,200 --> 00:16:42,280 Fuck. 348 00:16:42,280 --> 00:16:43,880 The desk assistant must have fucked up. 349 00:16:44,480 --> 00:16:46,240 I'd usually be able to accommodate you, 350 00:16:46,240 --> 00:16:48,440 but this weekend is a special circumstance. 351 00:16:48,440 --> 00:16:51,880 Look, I'm a bit of a VIP. I'm on a panel. 352 00:16:52,360 --> 00:16:54,600 What country are you a delegate of, sir? 353 00:16:55,000 --> 00:16:57,120 What? Papua New Guinea. 354 00:16:57,960 --> 00:17:00,600 Okay. Well, everyone's on some form of panel. 355 00:17:00,600 --> 00:17:04,480 Can you make my room up to be a twin? 356 00:17:04,800 --> 00:17:06,400 Sir, I am very sorry. 357 00:17:06,680 --> 00:17:07,880 There is nothing we can do. 358 00:17:09,160 --> 00:17:10,640 This is room 300 359 00:17:10,880 --> 00:17:13,760 and it's first exit up the stairs. 360 00:17:14,360 --> 00:17:15,320 Thank you. 361 00:17:16,040 --> 00:17:17,000 Thank you. 362 00:17:18,680 --> 00:17:19,640 Sorry. 363 00:17:19,640 --> 00:17:21,800 Eight thousand francs on my personal card, 364 00:17:21,800 --> 00:17:24,480 and it looks like something Trump vomited up in the '80s. 365 00:17:27,600 --> 00:17:30,080 Oh well, at least we can use it to take meetings. 366 00:17:32,240 --> 00:17:34,400 If Anna reaches out to you about my diary while I'm here, 367 00:17:34,400 --> 00:17:36,480 just tell her I had to stay in London, okay? 368 00:17:36,720 --> 00:17:38,840 She won't be suspicious after the contract? 369 00:17:40,560 --> 00:17:42,720 Say I'm with my son. She'll understand. 370 00:17:43,840 --> 00:17:45,760 Tell her I'll be there in time for her panel. 371 00:17:45,760 --> 00:17:46,960 Buys us the morning. 372 00:17:46,960 --> 00:17:48,600 Right. I'll tell her I'm working from home. 373 00:17:51,240 --> 00:17:53,680 Weird timing. Anna's just sanctioned me to spend 374 00:17:53,680 --> 00:17:57,120 800 quid on a pair of Aimé Leon Dore New Balances 375 00:17:57,120 --> 00:17:58,920 for her daughter's birthday. 376 00:17:59,400 --> 00:18:01,240 What a considerate mother. 377 00:18:01,240 --> 00:18:03,000 Are you good tonight? 378 00:18:03,640 --> 00:18:06,760 I said that I would go meet a friend briefly at a party. 379 00:18:07,840 --> 00:18:08,800 Okay. 380 00:18:10,080 --> 00:18:11,720 Just remember we have an 8:00 a.m. 381 00:18:16,200 --> 00:18:17,360 Any sign of Frank? 382 00:18:18,000 --> 00:18:20,600 Just a bunch of suits cosplaying environmentalists. 383 00:18:21,000 --> 00:18:22,200 Eric? 384 00:18:22,720 --> 00:18:23,720 Hi. 385 00:18:25,160 --> 00:18:27,360 Are you guys heading to Condé Nast? 386 00:18:27,600 --> 00:18:29,760 I need my beauty sleep pre the panel. 387 00:18:30,040 --> 00:18:32,040 Did you see Morgan Stanley published on Lumi? 388 00:18:33,000 --> 00:18:34,760 Very noisy sell recommendation. 389 00:18:35,280 --> 00:18:36,560 Who cares about Morgan Stanley? 390 00:18:36,560 --> 00:18:38,720 Then why is the stock down five percent after market? 391 00:18:39,320 --> 00:18:40,520 I mean, I'm slightly worried 392 00:18:40,520 --> 00:18:42,120 about sharing the panel with Henry tomorrow. 393 00:18:42,120 --> 00:18:44,200 We're going to look like goons if we trumpet the future 394 00:18:44,200 --> 00:18:46,240 of an equity story that's getting pummeled. 395 00:18:47,000 --> 00:18:49,160 A few of my more skittish investors want me to fully 396 00:18:49,560 --> 00:18:51,480 - unlever the fund's position on Lumi - Okay, well-- 397 00:18:51,600 --> 00:18:53,600 Anna, please, can we get to Condé Nast? 398 00:18:53,720 --> 00:18:55,000 I need to get eyes on Leo. 399 00:18:55,000 --> 00:18:58,080 Olaf, Eric Tao and Robert Spearing, 400 00:18:58,080 --> 00:18:59,200 sales at Pierpoint. 401 00:18:59,920 --> 00:19:01,760 Gentlemen, this is Olaf Heindorf, 402 00:19:01,760 --> 00:19:04,560 - CFO of Europa Gaz. - It's a pleasure to meet you. 403 00:19:04,560 --> 00:19:06,120 We're honored to be taking you public. 404 00:19:06,120 --> 00:19:08,080 Well, let's hope your investment banker's attitude 405 00:19:08,080 --> 00:19:09,960 to due diligence has sharpened since the Lumi deal. 406 00:19:10,880 --> 00:19:13,360 Can I expect you at our panel tomorrow? 407 00:19:13,880 --> 00:19:14,840 Front and center. 408 00:19:15,160 --> 00:19:18,000 I'd like to leave impressed. Don't disappoint me, Mr. Tao. 409 00:19:18,520 --> 00:19:20,160 Okay. D'accord. See you. 410 00:19:36,360 --> 00:19:37,560 Hi, Frank. 411 00:19:38,440 --> 00:19:42,200 Look, I know this is not the most appropriate time to introduce myself. 412 00:19:42,440 --> 00:19:43,520 I'm Robert. 413 00:19:43,920 --> 00:19:45,600 - Spearing. - Yeah, I know who you are. 414 00:19:46,800 --> 00:19:51,520 We have a WhatsApp where we share the directory photos of all the hottest 415 00:19:51,760 --> 00:19:53,640 and straightest Pierpoint employees. 416 00:19:56,440 --> 00:19:57,560 What an honor. 417 00:19:58,480 --> 00:20:01,440 Look, I'm gonna cut the crap. You know the whole world's 418 00:20:02,120 --> 00:20:04,520 waiting on your note with bated breath. 419 00:20:04,760 --> 00:20:07,520 Yeah, I think you overrate how much people like research. 420 00:20:09,720 --> 00:20:11,200 You're not gonna publish a sell 421 00:20:11,520 --> 00:20:13,280 on Lumi during the conference, are you? 422 00:20:13,600 --> 00:20:15,520 Is Eric nervous for the panel tomorrow? 423 00:20:16,760 --> 00:20:17,800 Should he be? 424 00:20:19,000 --> 00:20:21,720 I'm gonna do what I always do. 425 00:20:21,720 --> 00:20:24,720 The thing that is ethical and intellectually correct. 426 00:20:25,400 --> 00:20:28,320 Plus, it would really hurt my comp if I published 427 00:20:28,320 --> 00:20:32,120 a sell recommendation now. And it's a compliance issue. 428 00:20:32,920 --> 00:20:36,160 And I really love me some compliance. 429 00:20:41,800 --> 00:20:43,160 My initial impression 430 00:20:43,160 --> 00:20:46,320 of this climate conference is that it's like Cannes, 431 00:20:46,320 --> 00:20:49,920 except the attendees are richer, uglier, 432 00:20:50,240 --> 00:20:52,080 and somehow more insecure than movie people. 433 00:20:52,080 --> 00:20:53,160 Otto, darling! 434 00:20:53,520 --> 00:20:54,640 Aurore! 435 00:20:55,200 --> 00:20:57,840 - Hello. - Sorry I was held up. 436 00:20:57,840 --> 00:21:00,960 Macron and his business minister were chewing the Chancellor’s ear off 437 00:21:00,960 --> 00:21:03,800 about strike action, and minimum service levels, 438 00:21:03,920 --> 00:21:05,600 and blah, blah, blah, blah. 439 00:21:05,600 --> 00:21:07,880 The PM was daft to let the Chancellor take his place. 440 00:21:08,360 --> 00:21:10,520 That's hardly leadership on the world stage. 441 00:21:10,520 --> 00:21:12,400 Your readers would never forgive him 442 00:21:12,400 --> 00:21:15,200 if he looked like he was serious about the climate catastrophe. 443 00:21:15,480 --> 00:21:17,400 Every meeting I've had, Henry, 444 00:21:17,400 --> 00:21:20,480 is about the impending spike in natural gas prices. 445 00:21:20,480 --> 00:21:22,760 Are you going to be passing the cost on to consumers? 446 00:21:22,760 --> 00:21:26,200 Because a lot of my constituents signed up to Lumi's service. 447 00:21:26,200 --> 00:21:28,440 Does everything have to be immediately political? 448 00:21:28,840 --> 00:21:30,800 If there's more than one person in the room, Henry, 449 00:21:30,800 --> 00:21:32,520 - it's political. - Otto. 450 00:21:32,520 --> 00:21:33,680 It is. 451 00:21:34,880 --> 00:21:37,360 Hello, darling. Lovely to see you. 452 00:21:38,120 --> 00:21:39,480 - Have you got a drink? - No. 453 00:21:39,800 --> 00:21:40,880 - I'm gasping. - I'll direct you 454 00:21:41,480 --> 00:21:42,720 in the right direction. 455 00:21:46,560 --> 00:21:47,600 Were you avoiding me? 456 00:21:48,520 --> 00:21:49,480 No. 457 00:21:50,520 --> 00:21:51,600 No... 458 00:21:52,480 --> 00:21:54,280 I actually wanted to ask you 459 00:21:54,280 --> 00:21:57,600 if your family office have any Sales and Trading coverage. 460 00:22:00,320 --> 00:22:01,400 You're alluring. 461 00:22:02,240 --> 00:22:03,200 Very elusive. 462 00:22:04,160 --> 00:22:05,240 Not intentionally. 463 00:22:07,680 --> 00:22:08,680 You’re at the Grand, right? 464 00:22:08,680 --> 00:22:10,800 - Mm-hmm. - Yeah, my family owns it. 465 00:22:11,960 --> 00:22:13,600 I'm DJ-ing in the basement tomorrow. 466 00:22:13,600 --> 00:22:15,920 Those statements are unrelated. 467 00:22:17,120 --> 00:22:19,280 But you should-- you should come with. 468 00:22:19,280 --> 00:22:21,960 We can discuss whatever you wanna discuss there. 469 00:22:24,360 --> 00:22:25,400 Maybe someday. 470 00:22:25,400 --> 00:22:26,720 - Yeah. - Yeah. 471 00:22:30,000 --> 00:22:30,960 You know, I... 472 00:22:32,320 --> 00:22:35,920 I've dabbled in some amateur mentalism 473 00:22:35,920 --> 00:22:38,920 and I'd like to think that I'm a pretty good reader of people. 474 00:22:39,240 --> 00:22:41,440 I sort of get the feeling that you are really... 475 00:22:42,600 --> 00:22:44,520 very sad. 476 00:22:44,520 --> 00:22:47,640 Look, I'm not interested, okay? 477 00:22:51,120 --> 00:22:53,480 I gathered you'd open your legs for a bottle of 1942, 478 00:22:53,480 --> 00:22:54,880 given your situation. 479 00:23:09,280 --> 00:23:11,560 We need to spend as little time in here as possible. 480 00:23:13,680 --> 00:23:15,520 You were right about Frank, by the way. 481 00:23:18,240 --> 00:23:19,440 He's a company man. 482 00:23:21,080 --> 00:23:22,120 I told you. 483 00:23:24,040 --> 00:23:25,400 Shame about the snow. 484 00:23:33,960 --> 00:23:35,920 So, what's the story with you and Yas? 485 00:23:38,240 --> 00:23:41,040 Are you together, or with benefits, or what? 486 00:23:41,440 --> 00:23:42,400 We're flatmates. 487 00:23:44,800 --> 00:23:46,320 - As colleagues. - Come on. 488 00:23:50,040 --> 00:23:51,960 "The maximum amount of money 489 00:23:52,360 --> 00:23:54,400 doing the maximum amount of good." 490 00:23:54,680 --> 00:23:56,680 Can you smell the bullshit coming off that? 491 00:23:58,680 --> 00:24:00,440 Sounds about the right tone for here. 492 00:24:10,400 --> 00:24:12,720 - Wonderful timing you have. - Oh, I... 493 00:24:13,040 --> 00:24:15,280 - Yes, of course. No, it's okay. - Two minutes. I'll be back. 494 00:24:19,320 --> 00:24:21,440 Oh, my God, I am so glad you're here. 495 00:24:21,440 --> 00:24:23,240 - Thank you for coming. - Yeah, of course. 496 00:24:23,240 --> 00:24:24,760 I'm so fucking alone. 497 00:24:28,480 --> 00:24:30,560 Do you think you could intro me to Otto? 498 00:24:31,360 --> 00:24:32,600 Can it wait? 499 00:24:33,920 --> 00:24:37,240 My colleague, Petra, set some investor intro meets for us tomorrow, 500 00:24:37,240 --> 00:24:39,760 but I just-- I feel like he might be more our tempo. 501 00:24:42,760 --> 00:24:44,320 - Okay. - Thank you. Thank you. 502 00:24:47,640 --> 00:24:48,640 - Otto! - Yes? 503 00:24:48,640 --> 00:24:50,640 - This is Harper. - Stern. Harper Stern. 504 00:24:50,640 --> 00:24:52,880 Oh, great. Who invited you? 505 00:24:54,000 --> 00:24:56,880 Why do you assume I'm not influential enough to make the list? 506 00:24:57,600 --> 00:25:00,160 Because you're a diminutive woman. 507 00:25:00,160 --> 00:25:02,520 Well, the climate crisis would be resolved 508 00:25:02,520 --> 00:25:03,880 if women were in charge, right? 509 00:25:03,880 --> 00:25:06,440 I prefer the kind of feminism where women can be cunts. 510 00:25:06,440 --> 00:25:07,480 Oh. 511 00:25:07,480 --> 00:25:08,560 Harper works at-- 512 00:25:08,560 --> 00:25:10,280 I used to be a trader at Pierpoint. 513 00:25:10,840 --> 00:25:13,680 We met on that shoot with Jesse Bloom. 514 00:25:13,680 --> 00:25:16,720 Or, can we no longer say his name out loud? 515 00:25:16,720 --> 00:25:18,600 I'm a trader now. A PM. 516 00:25:18,840 --> 00:25:20,480 - I'm pitching a new fund. - Oh. 517 00:25:22,040 --> 00:25:23,040 ESG? 518 00:25:23,800 --> 00:25:24,960 - No. - Oh. 519 00:25:25,200 --> 00:25:28,000 Well, I would choose your audience carefully. 520 00:25:28,000 --> 00:25:31,280 You wouldn't believe how strong an opiate politics is. 521 00:25:31,280 --> 00:25:35,280 Even convinces some people that they're happy losing money. 522 00:25:35,680 --> 00:25:36,640 Aurore. 523 00:25:37,720 --> 00:25:41,240 Hey... So is-- is your dad really on the run, 524 00:25:41,240 --> 00:25:44,480 or did you kill him or something? 525 00:25:44,920 --> 00:25:45,880 What? 526 00:25:46,880 --> 00:25:48,360 Mate, what the fuck? 527 00:25:53,400 --> 00:25:54,520 Oh, my God. 528 00:25:54,520 --> 00:25:56,640 Xander, you do realize Charles Hanani... 529 00:25:56,880 --> 00:25:58,200 Yas! Yas! Yas! 530 00:25:58,200 --> 00:26:00,560 Were you, like, gossiping with him about me? 531 00:26:00,560 --> 00:26:02,360 I'm sorry. He's such a fucking... 532 00:26:03,200 --> 00:26:04,560 Yeah, I'm not gonna use that word. 533 00:26:04,560 --> 00:26:07,720 It's not very PC. No, wait, wait, wait, wait. 534 00:26:08,560 --> 00:26:11,520 I didn't say anything. I might have told him your name, 535 00:26:11,520 --> 00:26:13,880 and, you know, sorry, I shouldn't have done that, but... 536 00:26:14,080 --> 00:26:15,120 Can I go? 537 00:26:16,120 --> 00:26:18,720 Like, in a professional capacity, can I leave now? 538 00:26:18,720 --> 00:26:21,280 Yeah. I'm not keeping you here. 539 00:26:22,320 --> 00:26:24,480 Yeah, you were never here in a professional capacity. 540 00:26:24,480 --> 00:26:25,720 Yes, I was! 541 00:26:26,600 --> 00:26:28,440 Yes, I fucking was! 542 00:26:32,800 --> 00:26:33,760 Excuse me. 543 00:26:35,680 --> 00:26:38,680 - Just wait for me. Yas-- - Is it bad that I miss him? 544 00:26:39,240 --> 00:26:40,600 But I just don't understand. 545 00:26:40,720 --> 00:26:44,560 I don't understand how I can miss him if I hated him. 546 00:26:45,200 --> 00:26:47,000 Maybe I didn't. Maybe I never hated him, 547 00:26:47,000 --> 00:26:48,520 because otherwise, why do I feel like this? 548 00:26:48,520 --> 00:26:50,360 Why do I feel like this when he's... 549 00:26:51,720 --> 00:26:52,720 He's... 550 00:26:54,040 --> 00:26:55,920 - Please... - Fucking whore! 551 00:26:58,880 --> 00:27:00,560 At least you had the privilege of having a father 552 00:27:00,560 --> 00:27:02,320 to fuck you up in first place. 553 00:27:04,080 --> 00:27:05,960 I'm sorry. Not helpful at all. 554 00:27:05,960 --> 00:27:07,000 I'm sorry. 555 00:27:08,320 --> 00:27:10,480 Look, you need to be strong, okay? 556 00:27:10,480 --> 00:27:13,200 And it will pass. I know that much. It will pass. 557 00:27:13,760 --> 00:27:15,760 This doesn’t pass. 558 00:27:16,720 --> 00:27:18,240 Of course it fucking does. 559 00:27:19,840 --> 00:27:20,960 You're right. 560 00:27:23,560 --> 00:27:25,920 You're right. You're right. 561 00:27:28,080 --> 00:27:29,040 Hey. 562 00:27:29,840 --> 00:27:30,800 Nikki Beach. 563 00:27:36,400 --> 00:27:37,520 Hey, come here. 564 00:27:50,480 --> 00:27:53,960 We're an event-driven equity long-short with macro-overlay. 565 00:27:53,960 --> 00:27:56,160 I'm a seasoned stock picker, and Harper here 566 00:27:56,160 --> 00:27:58,360 is a talented macro trend analyzer. 567 00:28:00,120 --> 00:28:01,160 Mm-hmm. 568 00:28:03,080 --> 00:28:05,640 We represent the Church Commissioners for England fund. 569 00:28:05,640 --> 00:28:07,560 We manage the Church of England's money. 570 00:28:08,320 --> 00:28:10,240 So, you were at FutureDawn, right? 571 00:28:10,480 --> 00:28:11,920 You were across their Lumi investment? 572 00:28:11,920 --> 00:28:12,960 Yeah. 573 00:28:13,120 --> 00:28:15,440 I think the stock will eventually prove to be 574 00:28:15,440 --> 00:28:17,600 what it is, a disease-riddled dog. 575 00:28:21,320 --> 00:28:25,440 I did engineering at MIT. I did two years at CERN. 576 00:28:25,440 --> 00:28:28,080 Not far from here, actually. 577 00:28:28,400 --> 00:28:30,200 You know, there are a lot of ESG funds here 578 00:28:30,200 --> 00:28:31,280 looking to raise money. 579 00:28:31,880 --> 00:28:34,160 Where do you see your edge in this space? 580 00:28:34,400 --> 00:28:36,080 We intend to be a little less 581 00:28:36,720 --> 00:28:38,560 - philosophically-- - Dogmatic. 582 00:28:38,560 --> 00:28:39,800 Dogmatic? 583 00:28:39,800 --> 00:28:42,040 That word seems to be doing a lot of work. 584 00:28:42,280 --> 00:28:44,760 Sorry, is your boss going to be joining us? 585 00:28:45,240 --> 00:28:46,720 To be honest, I'm here as a courtesy, 586 00:28:46,720 --> 00:28:47,800 and I think it's important 587 00:28:47,800 --> 00:28:50,120 that juniors start to build their own little networks. 588 00:28:51,200 --> 00:28:52,160 - Well, good for you. - Yeah. 589 00:28:52,160 --> 00:28:54,480 That's very con-- Yeah. 590 00:28:56,440 --> 00:29:00,720 This is an invitation to make serious money. 591 00:29:00,720 --> 00:29:04,240 Let's get Jesus out of those sandals and into some Jordans. 592 00:29:05,680 --> 00:29:07,200 You'll get proper returns 593 00:29:07,200 --> 00:29:09,960 dressed in whatever politics you want. 594 00:29:12,040 --> 00:29:14,560 I bet you've seen a baby-faced kid with an iPad, 595 00:29:14,560 --> 00:29:17,320 transcribing stuff for her boss who can't be bothered to show. 596 00:29:17,640 --> 00:29:20,720 Couple McKinsey types fiercely trying to out-outrage each other. 597 00:29:21,120 --> 00:29:22,080 Textbook. 598 00:29:22,640 --> 00:29:25,280 People are gonna dance around it, but if they're gonna invest, one word. 599 00:29:25,520 --> 00:29:27,800 Outperformance, outperformance, outperformance. 600 00:29:28,160 --> 00:29:29,560 People are playing politics. 601 00:29:29,560 --> 00:29:32,120 They'll be less inclined to if you can prove supernormal returns. 602 00:29:32,520 --> 00:29:35,560 The actual physical track record is a due diligence rubber stamp 603 00:29:35,560 --> 00:29:37,760 down the line once we've got interest. 604 00:29:38,080 --> 00:29:39,520 That's the only way you get interest. 605 00:29:39,640 --> 00:29:43,920 There's too much competition. Thanks for, "Deez nuts." 606 00:29:51,560 --> 00:29:53,040 How hard is it to get a track? 607 00:29:53,920 --> 00:29:55,360 I don't keep it on my desktop. 608 00:29:56,040 --> 00:29:59,120 Elevating a request for it internally would have raised a red flag. 609 00:29:59,720 --> 00:30:01,440 Why can't you just, like, take pictures of it 610 00:30:01,440 --> 00:30:03,040 off your compliance person's screen? 611 00:30:03,760 --> 00:30:05,080 I don't think that's legal. 612 00:30:05,480 --> 00:30:06,800 - We can talk about... - Fuck. Move. 613 00:30:06,800 --> 00:30:08,320 The fuck are you doing? What the fuck? 614 00:30:08,320 --> 00:30:09,480 We need to go this way. 615 00:30:17,600 --> 00:30:18,560 Fuck. 616 00:30:19,040 --> 00:30:20,040 That was Eric and Anna. 617 00:30:20,040 --> 00:30:23,240 I just, like, thought they shouldn't see us together, right? 618 00:30:23,640 --> 00:30:24,600 Sorry for pushing you. 619 00:30:24,600 --> 00:30:27,280 I'm a little further along in life than you. 620 00:30:27,800 --> 00:30:30,280 Maybe it's not wise for me to start again. 621 00:30:30,280 --> 00:30:33,680 Again. Fuck. I’m going to Anna’s panel. 622 00:30:33,680 --> 00:30:36,360 Maybe we should just go back to London and forget this ever happened. 623 00:30:39,520 --> 00:30:41,680 Obviously, I'm getting a little sick and tired 624 00:30:41,680 --> 00:30:44,280 of raggedy-ass bitches, who take Spirit flights 625 00:30:44,280 --> 00:30:46,360 and forget to change their tampons, accusing me of... 626 00:30:46,360 --> 00:30:47,680 Harper, hi. 627 00:30:48,000 --> 00:30:50,040 - What are you up to? - You know. 628 00:30:50,240 --> 00:30:51,640 Important Pierpoint stuff. 629 00:30:52,480 --> 00:30:54,240 I'm... I'm in a bit of a jam. 630 00:30:54,440 --> 00:30:55,560 What's going on? 631 00:30:55,560 --> 00:30:57,320 Are you and Petra working on something? 632 00:30:57,960 --> 00:31:00,680 Petra's going out on her own and I have an opportunity to follow. 633 00:31:01,360 --> 00:31:02,560 I fucking knew it. 634 00:31:03,040 --> 00:31:04,160 She's having second thoughts 635 00:31:04,160 --> 00:31:06,120 and I need to push her over the edge. 636 00:31:06,120 --> 00:31:07,840 We're trying to raise funds and we don't have 637 00:31:07,840 --> 00:31:09,720 a physical track of Petra's returns. 638 00:31:09,720 --> 00:31:10,800 When you covered Anna, 639 00:31:10,800 --> 00:31:12,600 did you keep a record of her physical track? 640 00:31:12,600 --> 00:31:13,640 No. 641 00:31:15,640 --> 00:31:18,520 But Pierpoint Asset Management invest in FutureDawn. 642 00:31:19,040 --> 00:31:23,360 So, someone in PAM will have access to FutureDawn’s traders' performance. 643 00:31:24,320 --> 00:31:25,560 That checks out. 644 00:31:25,760 --> 00:31:30,320 I think our grad, Sweetpea Golightly, did a rotation in PAM. 645 00:31:30,440 --> 00:31:32,080 So, she'll know a junior in that division. 646 00:31:32,240 --> 00:31:33,400 Great, yeah. 647 00:31:33,400 --> 00:31:37,240 Could they get Petra Koenig’s track as innocently as possible? Screenshots? 648 00:31:38,360 --> 00:31:39,320 Okay. 649 00:31:39,880 --> 00:31:42,040 I'll lean on them and make it happen, but... 650 00:31:43,240 --> 00:31:44,720 If I do this, 651 00:31:44,720 --> 00:31:47,920 I want your fund’s commission next to my name. 652 00:31:48,400 --> 00:31:51,400 Bitch, you know I always wanted you to work for me. 653 00:31:55,240 --> 00:31:57,040 Bitch, you better buckle that fucking mouth 654 00:31:57,040 --> 00:31:58,880 right now, you slimy-ass ho! 655 00:32:04,920 --> 00:32:08,160 Eric, tell us a little bit about Henry and Lumi's journey. 656 00:32:09,040 --> 00:32:12,360 You know, when Henry first came into Pierpoint, 657 00:32:12,520 --> 00:32:15,960 I know my colleagues were so impressed with his vision. 658 00:32:15,960 --> 00:32:20,400 Here was a young man who wanted root-and-branch change 659 00:32:20,600 --> 00:32:21,880 in an industry. 660 00:32:22,160 --> 00:32:24,520 Wean people off their dependency on fossil fuels 661 00:32:24,520 --> 00:32:27,960 while also bringing the man on Main Street’s bills down. 662 00:32:27,960 --> 00:32:30,000 It was a bespoke, 663 00:32:30,000 --> 00:32:34,000 local execution of a global vision. 664 00:32:34,440 --> 00:32:37,240 There was a, you know, a real sense of kismet. 665 00:32:37,240 --> 00:32:39,400 Yeah, I remember that rainy Tuesday very fondly. 666 00:32:42,560 --> 00:32:45,240 It felt like the beginning of a revolution. 667 00:32:45,240 --> 00:32:48,080 And I was sick to death of these corporate elites 668 00:32:48,080 --> 00:32:49,520 preying on the little guy. 669 00:32:49,520 --> 00:32:52,440 - So, that kind of became a... - What the fuck? 670 00:32:52,600 --> 00:32:53,840 - ...a mission statement. - What? 671 00:32:53,840 --> 00:32:55,280 Frank's just published a hold. 672 00:32:55,280 --> 00:32:56,920 I wanted to break 673 00:32:56,920 --> 00:32:58,400 - the monopolistic... - Fuck me. 674 00:32:58,400 --> 00:33:00,720 ...stranglehold that the... 675 00:33:01,240 --> 00:33:03,840 of the cartel that the energy majors were running. 676 00:33:17,480 --> 00:33:21,880 As we roar into the twenties, Pierpoint and Lumi share the same ethos. 677 00:33:21,880 --> 00:33:24,480 We want to see the maximum amount of money 678 00:33:24,720 --> 00:33:26,960 doing the maximum amount of good. 679 00:33:27,440 --> 00:33:31,080 It's a credo, I know, progressive funds like Anna's share, too. 680 00:33:31,320 --> 00:33:33,080 What do you think of the U.K. government's 681 00:33:33,080 --> 00:33:34,720 commitment to net zero? 682 00:33:34,720 --> 00:33:36,840 Well, some say it's a luxury that they can't afford 683 00:33:36,840 --> 00:33:38,120 with the impending energy crisis. 684 00:33:38,120 --> 00:33:41,320 It's not a luxury, it's a necessity. 685 00:33:41,320 --> 00:33:43,920 You know, we work very closely with the U.K. government. 686 00:33:43,920 --> 00:33:46,240 The Energy Secretary Aurore Adekunle 687 00:33:46,240 --> 00:33:47,800 has been a huge champion of ours. 688 00:33:47,800 --> 00:33:50,200 Well, we have a roving mic in the crowd. 689 00:33:50,480 --> 00:33:53,360 So, I would like to throw the floor to our audience for some Q&A. 690 00:33:53,880 --> 00:33:54,880 Yes. 691 00:33:55,320 --> 00:33:57,400 Hi, panel. Nate Waghorn, MarketWatch. 692 00:33:57,920 --> 00:33:59,640 The growing number of Lumi sell recommendations 693 00:33:59,640 --> 00:34:01,520 published from banks that didn't do its IPO. 694 00:34:01,520 --> 00:34:05,360 The rally in natural gas. Is this a panel or a funeral? 695 00:34:05,800 --> 00:34:07,400 This isn't the WEF. 696 00:34:08,680 --> 00:34:10,920 We're here to talk about the climate catastrophe. 697 00:34:11,240 --> 00:34:13,920 Do any of us look like we're at a funeral? 698 00:34:16,160 --> 00:34:18,680 Okay, another question. Let's see. 699 00:34:19,240 --> 00:34:20,920 Yes, lady in the back. 700 00:34:21,520 --> 00:34:23,080 Hi, Harper Stern. 701 00:34:23,480 --> 00:34:26,400 I am a macro trader and a junior PM. 702 00:34:26,400 --> 00:34:30,840 Petra Koenig and I have come to COP to launch a new fund, 703 00:34:30,840 --> 00:34:32,120 spinning out of FutureDawn. 704 00:34:32,120 --> 00:34:36,040 My question is why is Pierpoint holding 705 00:34:36,040 --> 00:34:40,320 this ideas festival in the shadow of a climate conference? 706 00:34:40,840 --> 00:34:45,360 We have a green-energy CEO, a senior PM of a green-leaning fund 707 00:34:45,360 --> 00:34:49,920 and a random salesman from an American investment bank. 708 00:34:51,000 --> 00:34:53,680 Is this just the media financial complex 709 00:34:53,680 --> 00:34:54,920 patting itself on the back? 710 00:34:57,040 --> 00:34:59,120 And surely your sales patter must be moot, 711 00:34:59,120 --> 00:35:00,840 given Frank Wade at Pierpoint 712 00:35:00,840 --> 00:35:04,160 has now published a hold on Lumi. 713 00:35:06,160 --> 00:35:10,320 Given you are the lead underwriter, it is tantamount to a sell. 714 00:35:13,400 --> 00:35:17,120 I guess the gentleman who said funeral didn't misspeak. 715 00:35:21,440 --> 00:35:23,680 Fucking thing's down 15 percent. 716 00:35:27,440 --> 00:35:31,600 We are a financial institution trying to do good. 717 00:35:32,320 --> 00:35:33,800 Whether we like it or not... 718 00:35:35,120 --> 00:35:38,280 every debate is linked. It starts and ends with capital. 719 00:35:41,080 --> 00:35:43,600 And that's-- Yes, thank you, thank you. Thank you very-- 720 00:35:43,600 --> 00:35:45,040 That is all the time we have for today. 721 00:35:45,040 --> 00:35:47,040 Thank you kindly to the team from Lumi. 722 00:35:47,040 --> 00:35:49,800 We've thoroughly enjoyed having you here on today's panel. 723 00:35:49,800 --> 00:35:51,560 Thank you for your candid responses 724 00:35:51,560 --> 00:35:52,840 to these questions. 725 00:35:52,840 --> 00:35:54,600 Ladies and gentlemen, the team from Lumi. 726 00:35:56,800 --> 00:35:58,480 You got a marketing deck for your fund? 727 00:35:59,440 --> 00:36:02,840 It's refreshing to hear a dissenting voice that sounds like the one in my head. 728 00:36:04,040 --> 00:36:05,480 We are working on it. 729 00:36:05,920 --> 00:36:07,160 Does your fund have a name? 730 00:36:08,360 --> 00:36:10,600 That would be a good place to start. 731 00:36:13,840 --> 00:36:15,320 What the fuck is wrong with you? 732 00:36:16,040 --> 00:36:17,640 In what way was that professional? 733 00:36:19,640 --> 00:36:20,640 What were you gonna do? 734 00:36:21,400 --> 00:36:25,640 Sit in that fund and make a salary by passively accruing fees? 735 00:36:26,200 --> 00:36:29,240 You are an intellect. You deserve autonomy. 736 00:36:29,600 --> 00:36:31,240 Do you need a fucking dictionary? 737 00:36:31,560 --> 00:36:34,800 You literally just tried to make that decision for me. 738 00:36:35,760 --> 00:36:38,560 I'm going back to London. This was a huge fucking mistake. 739 00:36:38,560 --> 00:36:40,480 Serves me right for getting involved with a child. 740 00:36:44,080 --> 00:36:45,040 I'll get it. 741 00:36:49,800 --> 00:36:52,280 "Fortune, good night. Smile once more." 742 00:36:52,800 --> 00:36:53,800 "Turn thy wheel." 743 00:37:00,000 --> 00:37:02,320 All of the companies parading around here 744 00:37:02,320 --> 00:37:06,880 are only really interested in their bottom-line exposure 745 00:37:06,880 --> 00:37:08,520 as the world heats up. 746 00:37:08,520 --> 00:37:10,600 It's people really just convincing themselves 747 00:37:10,600 --> 00:37:13,880 that what's good for their bottom line is also good for the human condition. 748 00:37:15,280 --> 00:37:17,880 I'm not saying BlackRock doesn't wanna effect change 749 00:37:17,880 --> 00:37:19,520 when it uses its proxy votes 750 00:37:19,520 --> 00:37:22,120 to push whatever political agenda it has. 751 00:37:22,120 --> 00:37:23,640 But in the cold light of day, 752 00:37:23,640 --> 00:37:26,360 I'd wager its investors don't give fuck about activism. 753 00:37:27,040 --> 00:37:29,680 Or they're deluded enough to think it's going to earn them an actual return. 754 00:37:30,440 --> 00:37:31,400 Very well put. 755 00:37:31,400 --> 00:37:33,000 I mean, I'm not a climate denier. 756 00:37:33,680 --> 00:37:35,520 I found that whole crowd rather Neanderthal. 757 00:37:35,520 --> 00:37:37,320 But if Venice ends up 758 00:37:37,320 --> 00:37:40,040 on the seabed in 2075, who cares? 759 00:37:40,040 --> 00:37:41,400 It's a shithole in summer. 760 00:37:41,840 --> 00:37:44,080 And I don't intend to be around to see it sink. 761 00:37:45,560 --> 00:37:48,400 Right, let's get down to brass tacks. 762 00:37:49,800 --> 00:37:51,960 We'd like to see your returns, Petra. 763 00:37:51,960 --> 00:37:55,000 Well, that's not technically possible right now, but-- 764 00:37:55,120 --> 00:37:57,000 It is. They are on your email. 765 00:37:57,840 --> 00:37:59,840 Peter, maybe Petra could take you 766 00:37:59,840 --> 00:38:01,520 through her last five years. 767 00:38:01,720 --> 00:38:04,800 See if her numbers and strategies live up to the billing. 768 00:38:05,000 --> 00:38:06,520 Petra, show him. 769 00:38:06,960 --> 00:38:07,920 Show him. 770 00:38:09,680 --> 00:38:10,680 Right. 771 00:38:12,240 --> 00:38:13,240 Good. 772 00:38:26,320 --> 00:38:29,320 After we spoke last night I called a mutual friend of ours, 773 00:38:29,320 --> 00:38:32,600 currently residing in FCC Butner, North Carolina. 774 00:38:33,920 --> 00:38:34,880 How is Jesse? 775 00:38:36,240 --> 00:38:37,520 He's working on his putting. 776 00:38:38,040 --> 00:38:41,160 Butner is at the cushier end of federal correctional facilities. 777 00:38:41,800 --> 00:38:45,600 Minor charges. God, he's like Al Capone. He's lucky. 778 00:38:47,200 --> 00:38:50,800 - What did he say about me? - Oh, it's as I inferred. 779 00:38:52,120 --> 00:38:56,400 "War of all against all." You're a troublemaker. 780 00:38:59,640 --> 00:39:01,120 Peter was a troublemaker also. 781 00:39:03,160 --> 00:39:04,200 You're one of us. 782 00:39:06,640 --> 00:39:07,880 You're one of the bandits. 783 00:39:12,800 --> 00:39:14,400 - Santé. - Cheers. 784 00:39:54,080 --> 00:39:55,040 I... 785 00:39:56,200 --> 00:39:58,400 I’m sorry the panel got a bit testy. 786 00:39:59,360 --> 00:40:01,160 You have no idea how in-your-bones 787 00:40:01,160 --> 00:40:03,520 exhausting it is pretending nothing's wrong. 788 00:40:05,840 --> 00:40:07,880 Lumi stock's down another 20 percent 789 00:40:07,880 --> 00:40:09,320 after Pierpoint’s note. 790 00:40:10,640 --> 00:40:13,840 Still many millions of dollars if you sell your shares now. 791 00:40:14,800 --> 00:40:16,360 Before it goes to zero. 792 00:40:20,360 --> 00:40:21,360 Come on. 793 00:40:23,240 --> 00:40:25,640 Why else would the lock-up period be so short? 794 00:40:28,680 --> 00:40:30,120 Do you really think you see me? 795 00:40:32,440 --> 00:40:33,520 Is that your skill? 796 00:40:34,960 --> 00:40:35,920 You know... 797 00:40:36,960 --> 00:40:40,040 I didn't buy into the image the media portrayed of you. 798 00:40:41,320 --> 00:40:43,520 I'd ask you to extend me the same courtesy. 799 00:40:46,080 --> 00:40:49,120 Petra’s trading book is only 20 percent of FutureDawn, 800 00:40:49,120 --> 00:40:51,120 but it makes up over 50 percent of the fund’s 801 00:40:51,120 --> 00:40:53,160 final performance over the last five years. 802 00:40:57,760 --> 00:41:02,400 Yes, I like the idea of a punt on a sharp-elbowed start-up. 803 00:41:02,840 --> 00:41:05,520 Give you some rope, small seed investment. 804 00:41:06,240 --> 00:41:07,360 Godfather you. 805 00:41:08,480 --> 00:41:12,760 I can market you as a story. The moment I anoint you 806 00:41:13,280 --> 00:41:15,480 opens the doors to other people's money. 807 00:41:15,920 --> 00:41:18,040 Two women who flew into a climate conference 808 00:41:18,040 --> 00:41:19,440 and left with a sin stock fund. 809 00:41:20,040 --> 00:41:21,720 God, there's a lot of contradictions there. 810 00:41:21,840 --> 00:41:23,720 - Mm-hmm. - Right, I love it. 811 00:41:25,280 --> 00:41:27,440 Look at you both. What a picture. 812 00:41:28,000 --> 00:41:31,040 You've a... such a progressive look. 813 00:41:31,840 --> 00:41:33,280 New look, same great taste. 814 00:41:36,760 --> 00:41:37,800 Gold. Come on. 815 00:41:54,440 --> 00:41:55,440 My dad... 816 00:41:56,640 --> 00:41:57,640 Reggie. 817 00:41:59,720 --> 00:42:00,680 One weekend... 818 00:42:01,880 --> 00:42:03,600 he stood up from the Sunday lunch table... 819 00:42:04,840 --> 00:42:05,920 without a word. 820 00:42:08,080 --> 00:42:09,520 They found him two days later. 821 00:42:10,920 --> 00:42:14,160 He'd walked out onto the moor and blown his head off. 822 00:42:19,360 --> 00:42:21,360 I didn't believe he could have done that to himself. 823 00:42:24,640 --> 00:42:27,680 When I started having similar thoughts 824 00:42:27,680 --> 00:42:29,600 in my last year of school, they called it... 825 00:42:30,800 --> 00:42:32,240 suicidal ideation. 826 00:42:34,400 --> 00:42:36,080 I'd finally made peace 827 00:42:36,880 --> 00:42:39,120 with the fact he'd ended his own life. 828 00:42:40,640 --> 00:42:43,800 The only way I could get rid of those thoughts... 829 00:42:45,680 --> 00:42:47,640 was by building something of my own. 830 00:42:49,200 --> 00:42:50,520 And I would do anything... 831 00:42:53,120 --> 00:42:54,080 anything... 832 00:42:55,760 --> 00:42:58,480 to avoid feeling that kind of helplessness again. 833 00:43:02,120 --> 00:43:03,120 I'm so sorry. 834 00:43:04,920 --> 00:43:06,920 This is the worst I've felt since he died. 835 00:43:13,640 --> 00:43:14,600 I hope... 836 00:43:16,400 --> 00:43:18,520 you find peace faster than I did. 837 00:43:20,960 --> 00:43:21,920 It's... 838 00:43:23,680 --> 00:43:25,880 It's very selfish of me arranging for you to come. 839 00:43:27,920 --> 00:43:31,120 But I figured we might get a minute alone like this and... 840 00:43:34,640 --> 00:43:37,280 Fuck it. Anything would be worth that. 841 00:43:42,120 --> 00:43:44,800 Okay. Big come on. 842 00:43:48,560 --> 00:43:50,600 What do you actually want me to do with that? 843 00:44:00,080 --> 00:44:01,120 I... 844 00:44:02,640 --> 00:44:04,520 I haven't had sex in five months. 845 00:44:10,280 --> 00:44:11,600 And you're still alive? 846 00:44:42,880 --> 00:44:44,560 - Celeste, hi. - Hi, Henry. 847 00:44:44,560 --> 00:44:47,720 That panel feels like the end of the road, I'm afraid. 848 00:44:47,720 --> 00:44:48,760 The market killed us. 849 00:44:50,000 --> 00:44:53,800 I'd like to unwind my personal stake 850 00:44:53,800 --> 00:44:57,240 in the company and crystallize the profit now. 851 00:44:58,520 --> 00:45:00,200 No, no, I-- I know. Yeah. 852 00:45:00,440 --> 00:45:03,600 If my market order's worked from the open, 853 00:45:04,520 --> 00:45:05,840 how much will I get out? 854 00:45:12,080 --> 00:45:13,040 Woof. 855 00:45:15,520 --> 00:45:16,720 Okay... 856 00:45:17,600 --> 00:45:20,440 Can you email me once that transfer is in my account? 857 00:45:36,600 --> 00:45:37,640 Most companies fail. 858 00:45:40,600 --> 00:45:42,480 Most companies fail. 859 00:45:45,360 --> 00:45:46,760 Most companies... 860 00:45:48,080 --> 00:45:49,080 fail. 861 00:45:53,520 --> 00:45:55,520 Hi, Eric, it's Wilhelmina. 862 00:45:55,520 --> 00:45:58,040 Olaf just called. Europa Gaz wanna push the IPO, 863 00:45:58,040 --> 00:45:59,520 citing macro conditions. 864 00:45:59,880 --> 00:46:02,320 So, it's a soft firing. 865 00:46:03,200 --> 00:46:06,080 I can't believe that we're so fucking siloed 866 00:46:06,080 --> 00:46:09,000 that Frank was allowed to go rogue and publish like that. 867 00:46:09,240 --> 00:46:10,280 It's not good. 868 00:46:10,800 --> 00:46:13,080 - We need to be more joined up. - Is this a bellwether? 869 00:46:13,080 --> 00:46:15,480 Are the other IPOs in the pipeline secure? 870 00:46:15,480 --> 00:46:17,080 Or are they gonna get cold feet? 871 00:46:17,440 --> 00:46:19,320 Look, I don't wanna wall-cross you. 872 00:46:19,320 --> 00:46:21,560 This is more of an executive conversation. 873 00:46:22,120 --> 00:46:23,160 Above your level. 874 00:46:23,560 --> 00:46:27,040 What happened at the panel was out of my control. 875 00:46:27,520 --> 00:46:29,720 Bill wouldn't have handled it any better. 876 00:46:31,280 --> 00:46:32,480 God damn it. 877 00:46:37,160 --> 00:46:39,120 Can you lose Rumpelstiltskin here? 878 00:46:39,720 --> 00:46:41,040 Look at this old fuck. 879 00:46:41,480 --> 00:46:43,600 Baby, he can hear you. 880 00:46:44,480 --> 00:46:45,560 You think? 881 00:46:46,600 --> 00:46:48,920 Heard he got cooked by some little girl on stage. 882 00:46:57,640 --> 00:47:00,920 I'm really sorry about him. He's being a fucking asshole. 883 00:47:02,760 --> 00:47:03,720 I'm Suzie. 884 00:47:09,720 --> 00:47:10,880 Robert. 885 00:47:13,400 --> 00:47:14,520 Robert Spearing. 886 00:47:15,160 --> 00:47:16,280 Nice to meet you. 887 00:47:30,400 --> 00:47:32,160 Why did you publish during the panel? 888 00:47:32,160 --> 00:47:33,800 Because there was an avalanche 889 00:47:33,800 --> 00:47:36,280 of competitors publishing and I didn't want to be last. 890 00:47:37,680 --> 00:47:38,960 You were very bullish 891 00:47:39,840 --> 00:47:41,600 when the bank were fishing for Lumi investors. 892 00:47:41,600 --> 00:47:44,840 And the macro environment and the outlook changed. 893 00:47:45,360 --> 00:47:48,200 And I didn't, by the way, publish a sell. 894 00:47:48,760 --> 00:47:50,960 But what would it have looked like if I published a buy 895 00:47:50,960 --> 00:47:53,200 after Pierpoint got called out like that at the panel? 896 00:47:53,200 --> 00:47:57,680 You do know that a hold is effectively a sell signal 897 00:47:57,680 --> 00:47:59,720 to the market, given that you work for us? 898 00:47:59,720 --> 00:48:01,560 Not where compliance is concerned. 899 00:48:02,880 --> 00:48:06,160 Look, I may work for an institution, 900 00:48:06,720 --> 00:48:10,000 but I'm not institutionalized. 901 00:48:11,760 --> 00:48:13,840 Well, the least you could do is buy me a drink. 902 00:48:29,760 --> 00:48:30,760 Yeah? 903 00:48:31,520 --> 00:48:34,040 Eric, it's Yas. We have a meeting. 904 00:48:34,880 --> 00:48:36,200 What the fuck? 905 00:48:38,160 --> 00:48:39,640 Fuck me. 906 00:48:42,360 --> 00:48:43,400 Coming! 907 00:48:46,520 --> 00:48:47,880 - Hi. - Hi. 908 00:48:48,760 --> 00:48:51,400 I emailed you. I've set up an introductory meeting with a new fund. 909 00:48:51,840 --> 00:48:53,640 Okay. I'll be right down. 910 00:48:56,960 --> 00:48:58,160 Okay. 911 00:48:59,960 --> 00:49:00,960 Hey. 912 00:49:02,520 --> 00:49:03,480 Hey. 913 00:49:05,160 --> 00:49:06,920 Robert, you're a lot of fun. 914 00:49:06,920 --> 00:49:09,200 Can you get your things together? 915 00:49:10,720 --> 00:49:11,920 2,000, right? 916 00:49:12,240 --> 00:49:14,720 No, it was 10,000 for overnight, 917 00:49:15,200 --> 00:49:19,240 and then an extra 1,000 'cause you wanted to kiss me, 918 00:49:19,240 --> 00:49:22,080 and then an extra 8,000 'cause, you know... 919 00:49:23,280 --> 00:49:24,440 anal. 920 00:49:25,680 --> 00:49:27,200 We can just call it 20 grand. 921 00:49:29,320 --> 00:49:30,320 How was it? 922 00:49:30,840 --> 00:49:34,400 I-- Do I fuck like a young man? 923 00:49:34,760 --> 00:49:37,160 You fuck like a young man... 924 00:49:38,560 --> 00:49:40,120 who has a lot of money. 925 00:49:43,320 --> 00:49:45,600 I can give you my Coinbase details. 926 00:49:48,040 --> 00:49:51,640 Do you mind staying here? And I'll-- I'll be right back 927 00:49:51,640 --> 00:49:53,440 - and I'll pay you! - Okay, wait, what? 928 00:49:53,440 --> 00:49:54,720 No. What the fuck, dude? 929 00:49:59,680 --> 00:50:01,160 Where did you sleep? 930 00:50:03,160 --> 00:50:05,760 The room seemed pretty loud, 931 00:50:06,200 --> 00:50:07,600 so I absented myself. 932 00:50:07,720 --> 00:50:09,120 Thanks. Sorry. I... 933 00:50:10,240 --> 00:50:13,720 wasn't really thinking. This is between us, right? 934 00:50:15,160 --> 00:50:18,680 Oh, hey! Thank you for a fantastic evening. 935 00:50:18,680 --> 00:50:20,760 Robert Spearing, everyone! 936 00:50:31,000 --> 00:50:31,960 Eric? 937 00:50:33,080 --> 00:50:34,120 Our nine o'clock? 938 00:50:37,800 --> 00:50:39,440 What is this about? 939 00:50:39,600 --> 00:50:41,760 I'm just doing my job, okay? 940 00:50:55,480 --> 00:50:57,360 We want Pierpoint to be our broker. 941 00:50:58,920 --> 00:51:01,640 We have an assets under management threshold 942 00:51:02,120 --> 00:51:03,320 for clients we take on. 943 00:51:03,320 --> 00:51:05,480 Uh-huh. And what is that threshold? 944 00:51:05,760 --> 00:51:08,280 Three hundred million dollars, give or take. 945 00:51:08,280 --> 00:51:12,000 Otto Mostyn’s anchor investment in our fund is two hundred million dollars 946 00:51:12,160 --> 00:51:15,080 and his commitment has opened the door to more investment. 947 00:51:18,760 --> 00:51:21,840 Look, this is in all of our interests, right? 948 00:51:23,000 --> 00:51:25,280 We give you a commission, you service us. 949 00:51:27,840 --> 00:51:28,800 Please have a seat. 950 00:51:37,480 --> 00:51:39,360 Look, we're doing you a favor. 951 00:51:40,320 --> 00:51:43,760 You're landing the buzziest fund out of this investment summit. 952 00:51:44,640 --> 00:51:49,400 And what will your bosses think if we went to GS, MS, 953 00:51:50,080 --> 00:51:52,000 and Pierpoint was our first breakfast of the day? 954 00:51:54,520 --> 00:51:57,320 Do you know who you're dealing with here? 955 00:51:58,560 --> 00:52:02,080 It's a bit rude to talk about her like that in front of her. 956 00:52:03,080 --> 00:52:04,040 What do you want? 957 00:52:04,040 --> 00:52:06,640 The practical things a fund expects from its broker. 958 00:52:06,640 --> 00:52:08,600 Trading color, fair spreads, 959 00:52:08,600 --> 00:52:10,240 timely research, corporate access. 960 00:52:10,240 --> 00:52:12,680 Well, obviously, Pierpoint is first class 961 00:52:12,680 --> 00:52:13,880 in all of those areas. 962 00:52:13,880 --> 00:52:16,920 And my existing relationship with Harper 963 00:52:16,920 --> 00:52:19,120 means that I can offer you a bespoke service. 964 00:52:19,680 --> 00:52:23,480 And I expect you to answer the phone every time I dial. 965 00:52:24,960 --> 00:52:26,040 First-class service. 966 00:52:26,840 --> 00:52:28,360 And eye contact. 967 00:52:31,040 --> 00:52:32,040 Eric. 968 00:52:34,320 --> 00:52:35,280 Look at me. 969 00:52:40,400 --> 00:52:41,640 Your face is shimmering. 970 00:52:44,680 --> 00:52:46,600 You have glitter all over your face. 971 00:53:02,120 --> 00:53:03,680 Just had a prelim call with Otto's office 972 00:53:03,680 --> 00:53:05,760 and their accounts are gonna send through e-ma... 973 00:53:13,880 --> 00:53:15,600 You know what partnership means, right? 974 00:53:15,600 --> 00:53:18,320 Yes. No unilateral decisions. 975 00:53:20,040 --> 00:53:22,960 You don't need to feel insecure about not being a people person. 976 00:53:23,880 --> 00:53:25,640 You just hadn't found your people yet. 977 00:53:27,000 --> 00:53:29,920 So, what are we gonna call this new venture? 978 00:53:30,640 --> 00:53:33,400 I kind of like Leviathan. 979 00:53:38,320 --> 00:53:39,360 Merci. 980 00:53:46,160 --> 00:53:48,640 I'm starting to think that things would have worked out 981 00:53:48,640 --> 00:53:50,320 exactly the same without us. 982 00:53:54,080 --> 00:53:55,880 I can't believe there wasn't any snow.