Wedbush Securities analyst Michael Pachter elaborated yesterday on his view that Facebook CEO Mark Zuckerberg failed to exhibit "respect to Wall Street" by showing up to investor presentations in his trademark hoodie.
Pachter reiterated his displeasure with the hoodie to Bloomberg TV, saying, "A jacket over a T-shirt and jeans would be fine, it would show some respect," but Zuckerberg's choice of garb "didn't show any respect to the audience."
Pachter continued, "If he shows up and says, 'I care what you have to say, I'm listening, I'm going to act in your best interest,' good enough. When he shows up with a hoodie, and it's really not done in Wall Street investor presentations, I think he's saying, 'I don't care, I'm going through the motions, I don't want to be here. I'd rather be back in Palo Alto writing code.' That's fine. If that's what he needs to be creative, more power to him... He should wear whatever he wants, but not when he's asking for money.
"He wouldn't go to a wedding in hoodie. Maybe he would, but he shouldn't. He wouldn't go to church in a hoodie. I mean you shouldn't. You just show the institution respect and I think he didn't show respect on Wall Street."
It appears Mr. Pachter is projecting his value system onto Mr. Zuckerberg. Nonetheless, Pachter appears confident that Zuckerberg's alleged disrespect to the church of Wall Street won't affect his performance as CEO. He has rated Facebook's stock to "outperform."