The investor who tried to pull the plug
The noise around Petrobras’s offering piqued the interest of some of the world’s leading investors, including a certain George Soros. But for one fund manager, the volume proved too distracting.
Edouard Carmignac: prefers his music unplugged
Amid the tough questioning and long days, the tone was reported to be constructive, informal and productive. There were also moments of light relief. One banker recalls a lunch meeting in the restaurant of a Paris hotel to pitch to Edouard Carmignac, founding member, chairman and chief executive of Carmignac Gestion, an asset management company with more than €50 billion under management. Early into the meeting, Carmignac noted that the music being played in the room was rather loud, called over one of the waiters and requested that the volume be lowered. The waiter mumbled something and left, the meeting continued, but so did the music at its original volume. Carmignac again summoned a waiter, this time requesting a little more forcefully that he would like the music to be turned down. Again the waiter left, again the music stayed at the same volume. Visibly annoyed, and struggling to concentrate on the presentations in front of him, Carmignac asked for the manager and requested him "to fucking well turn that music down. I’ve asked you twice," he went on, "TO TURN THE MUSIC.