Crash Parties, Escape Dull Chitchat and Make Powerful Friends: What Davos Elites Know

For a master class in power networking, it’s tough to beat the one taking place in the Swiss Alps this week.

The annual World Economic Forum brings the planet’s power brokers together for morning-to-past-midnight meetings over coffee, cocktails and fondue. For the thousands of CEOs, billionaires, intellectuals and world leaders descending on Davos, the setting is unrivalLed in its potential to spark relationships, dealmaking and big ideas for the year ahead. After all, there are few other places where you can run into Al Gore at the hotel bar and wait next to Bill Gates to pass through the metal detectors.

MaximiSing all that powerful proximity and turning it into actual connections takes skill, chutzpah and the ability to think on your feet. What to do if you spot Sting in the elevator? How to know whether a tête-à-tête merits more than a minute of your time? And how do you divine someone’s importance without peering at the badge dangling at their midsection?

The tricks of Davos movers and shakers can apply to any business gathering or cocktail party, regardless of your VIP status. Here’s how they do it.

Names and spaces

For Salesforce Chief Executive Marc Benioff, getting the most out of the high-powered gathering often comes down to location—in this case, the top of a staircase in the Davos Congress Center, the main hub of the event.

The Davos regular said he plans to spend an hour each day of the forum perched there or in an adjacent hallway. Why? In a single hour—amid a packed calendar of meetings, lunches, dinners and other engagements—he might see 100 people he would otherwise not encounter all year.

“The amount of serendipity that happens is unlike anything I’ve ever experienced,” said Benioff, who has attended the forum for two decades and hosts parties and gatherings that people vie all week to get into. “It’s an incredible thing.”

Benioff has a hack for dealing with a common conundrum in Davos and beyond—forgetting your conversation partner’s name. The Salesforce chief said he sometimes takes photos of their badges if he isn’t able to take notes. If he exchanges contact information with someone, he gives his cellphone number or email and recommends they text, email or tweet at him.

“I’m generous with my contact information,” he said. (At least one reporter can attest to that.)

Or, simply ask the person to repeat their name, said Alisa Cohn, an executive coach and author attending her third Davos. She phrases the question with a touch of humoUr, asking: “‘Listen, this has been a great conversation, and I’ve already forgotten your name. Can you remind me?’”

Few people respond poorly, she said. “The truth is, they will ask you the same question because they forgot your name, too.”

Big deal, or big whoop?

Seated next to an unfamiliar guest at a dinner or lunch, several CEOs said they weren’t above stealth under-the-table googling, surreptitiously reading up on their Davos dining companions to make better conversation or to understand what, exactly, it is that they do.

When introducing herself to someone new, Cohn gives people conversational “hooks” to latch on to. For her, that means explaining she is also an angel investor, based in New York, and a fitness fanatic with a love of kettlebells. The icebreaker often spurs people to detail their own fitness routines.

True Davos experts know how to escape a long, dull or—horrors!—low-status conversation partner. Nick Studer, head of consulting firm Oliver Wyman Group and a longtime Davos attendee, believes there is value in all sorts of conversations. But he has perfected the art of extraction with a favoUrite line: “Anyways, it’s obviously fantastic [chatting]. I mustn’t keep you from your guests.”

Most people follow his lead, he said, “as long as you wrap it up appropriately and politely.”

No ‘Windexing’

One big Davos no-no is what the finance executive Anthony Scaramucci has come to describe as “Windexing.”

Say you are chatting with someone interesting, but notice out of the corner of your eye that the British prime minister or a well-known billionaire-entrepreneur walks into a room. You might suddenly feel the urge to move on, and look past the person you are talking to “like he’s a sheet of glass,” Scaramucci said. “Don’t be that person.”

Instead, apologiSe for needing to end the conversation, he said, and offer to circle back if there is time.

Scaramucci, founder of the hedge-fund investment firm SkyBridge Capital and, very briefly, communications director for the Trump administration, started jetting to Davos in 2007.

He hosts a popular and well-attended wine night there each year. Over time, he has learned a tactic for getting into a must-attend party—even when he isn’t invited.

“I crash every single party that I can possibly crash,” Scaramucci said.

Several years ago, at a party held by a Russian oligarch, a security guard stopped Scaramucci because he wasn’t on the list. Scaramucci says he didn’t blink. Instead, he disarmed.

“I said, ‘I know I’m not on the list. I’m Vince Vaughn from ‘Wedding Crashers,’” he recalled. “Five minutes later, I was eating the caviar and drinking the vodka.”

When Scaramucci spots a mega luminary he is dying to meet, he tries to be authentic. He said he developed a friendship with David Rubenstein, co-founder of the private-equity giant Carlyle Group, by introducing himself in Davos years ago.

“I just walked over to him. I said, ‘Hey, listen, I watched you on TV, I’ve seen your interviews and I’m a great admirer of yours,’” Scaramucci said. “People are incredibly nice. Don’t make the mistake of thinking they don’t want to meet you.”

Tight timing

At major conclaves like Davos, Scaramucci and others said it is important to realise you can’t do it all. Prioritisation is key.

Denelle Dixon, who runs the nonprofit Stellar Development Foundation, said her organisation sets a theme for the conference so executives can take meetings with government officials and others around that sharp topic. This year, it is blockchain’s role in expanding access to the financial system. (Davos loves a buzzword.) “It allows us to really focus,” she said.

Saying no is essential. Salesforce’s Benioff and his team usually meet with roughly half of the 600 CEOs attending Davos. But a request for five or 15 minutes of his time is likely to fail if the person isn’t a critical customer or somebody he already knows well.

“It’s not going to get part of my time,” he said. “Maybe it’ll get part of somebody else’s time.”

Reporting season has once again reminded investors that a strong profit does not guarantee a rising share price, and a large loss does not always trigger a sell-off. What matters most is how each result compares with expectations and, increasingly, what management says about the year ahead. During the August 2026 season, companies offering credible turnarounds or unexpectedly strong guidance were rewarded handsomely, while those flagging weaker margins, slowing demand or greater uncertainty were punished.

The following ranking draws on Morningstar’s review of 164 ASX-listed companies and measures each company’s share-price movement on the day it reported. This captures the market’s immediate response to the earnings announcement, before subsequent economic developments, dividends and company-specific news cloud the picture. Here are the five biggest winners, and the five hardest-hit losers, of the season so far.

The five winners

1. Bapcor (ASX:BAP): +41.0%

Bapcor delivered reporting season’s largest relief rally after presenting early evidence that its troubled automotive-parts business was stabilising. Although underlying revenue fell 1.8% to $1.92 billion and underlying NPAT collapsed 85% to $10.8 million, underlying EBITDA of $152.5 million exceeded guidance.

More importantly, working-capital initiatives released $68.5 million in the second half, lifting cash conversion to 109.4% and reducing net debt by 63% to $135 million. The statutory loss was $431.6 million, largely because of non-cash impairments. Investors focused on improving operational momentum, stronger liquidity and management’s expectation of modest FY27 revenue growth.

2. Zip Co (ASX:ZIP): +18.2%

Zip comfortably surpassed its FY26 targets, sending the buy-now-pay-later provider’s shares sharply higher. Transaction volume rose 23% to $16.7 billion, while cash earnings before tax, depreciation and amortisation jumped 58% to a record $268.9 million. Statutory profit climbed 46% to $116.4 million, and the cash operating margin expanded by 4.2 percentage points to 20%.

The strongest signal was guidance for FY27 cash earnings of $340 million—around 26% growth and above analysts’ forecasts. US transaction volume increased 42.5% and now represents three-quarters of group volume, offsetting weaker customer activity in Australia.

3. CSL (ASX:CSL): +17.3%

CSL’s result was hardly spectacular in isolation, but it cleared a market bar that had fallen dramatically following earlier downgrades and restructuring announcements. Underlying NPATA was US$3.1 billion, down 2% in constant-currency terms, while operating cash flow reached US$3.51 billion.

CSL maintained its full-year dividend at US$2.92 per share and completed a A$1 billion buyback. The real catalyst was FY27 guidance for approximately 5% underlying profit growth, compared with market expectations closer to 2%. After an extended period of earnings disappointments, investors interpreted the outlook as evidence that CSL’s core plasma business was approaching a sustainable recovery.

4. Judo Capital (ASX:JDO): +16.9%

Judo Capital demonstrated strong operating leverage as its specialist business-lending franchise expanded. Full-year profit before tax rose 34% to $168.1 million, while pre-provision profit increased 42%. Gross loans and advances grew 18% to $14.7 billion, reaching the top of the bank’s guidance range and comfortably exceeding broader system growth.

Deposits increased 24% to $12.2 billion, return on equity improved by 1.1 percentage points to 6.4%, and earnings per share rose 29% to 9.9 cents. Reaffirmation of the FY27 outlook gave investors confidence that loan growth could continue without sacrificing margins or credit quality.

5. Super Retail Group (ASX:SUL): +15.8%

The owner of Supercheap Auto, rebel, BCF and Macpac reported record sales of $4.2 billion, up 3.2%, despite cautious discretionary spending. Profitability went backwards: normalised profit before tax fell 7% to $306 million and normalised NPAT declined 2.8% to $226 million as transformation spending weighed on margins. Nevertheless, the result exceeded subdued expectations, online sales grew 5.3% and membership across the group’s loyalty programs reached 13.1 million. Investors were also encouraged by positive early FY27 trading, stable gross margins and continued market-share gains. A fully franked 33-cent final dividend added to the appeal.

The five losers

1. Hansen Technologies (ASX:HSN): –21.2%

Hansen’s historic result met expectations, but investors recoiled from its outlook. The utility and communications software provider achieved an underlying EBITDA margin of 31%, exceeding its 30% target, while generating strong cash flow. However, management designated FY27 an “investment and transition year”, signalling a roughly five-percentage-point margin contraction as spending on products, sales capabilities and organisational changes increased.

Revenue had already been broadly flat, leaving investors concerned that the investment program would depress earnings before new growth appeared. Leadership changes, including the chief executive’s departure, added uncertainty. Management expects revenue growth and margins above 30% to return in FY28, but the market was unwilling to wait.

2. Life360 (ASX:360): –19.4%

Life360’s headline growth was impressive: quarterly revenue rose 38% to US$159 million, subscription revenue increased 31%, and adjusted EBITDA climbed 53% to US$31.1 million. Monthly active users reached 102.4 million and paying circles grew 27% to 3.2 million. The sell-off reflected expectations rather than a collapsing business.

Net income fell 18%, the net margin contracted from 6% to 3%, hardware shipments dropped 18%, and full-year EBITDA guidance was merely maintained. After a strong valuation run, investors wanted a larger upgrade and clearer evidence that heavy investment in advertising, international expansion and artificial intelligence would generate additional earnings.

3. PEXA Group (ASX:PXA): –17.0%

PEXA reported a 7% increase in continuing-operations revenue and 12% EBITDA growth to $152 million, accompanied by a two-percentage-point margin expansion. Free cash flow increased 39%, suggesting the core Australian electronic-conveyancing platform remained highly profitable. Investors instead concentrated on management’s warning that property-transfer volumes could decline, alongside regulatory uncertainty surrounding the fees PEXA can charge.

The company is also continuing to invest heavily in its loss-making international expansion. Morningstar considered the market reaction excessive, arguing that structural transfer-volume assumptions had not materially changed, but the combination of softer near-term activity and regulatory risk overwhelmed the respectable headline numbers.

4. SEEK (ASX:SEK): –14.3%

SEEK produced solid FY26 figures, including 10% revenue growth to $1.20 billion, a 15% rise in EBITDA and 28% growth in adjusted earnings per share. It also lifted its fully franked annual dividend by 13% to a record 52 cents. Those achievements were overshadowed by falling paid job-ad volumes and cautious FY27 assumptions.

The statutory accounts included a $201 million loss from the SEEK Growth Fund and $377 million of significant items, making the headline result considerably less attractive. Investors were particularly concerned that economic weakness could limit volumes while the company continued investing in platform integration and artificial-intelligence products.

5. JB Hi-Fi (ASX:JBH): –12.3%

JB Hi-Fi’s full-year result was broadly respectable, with group sales rising 5% to $11.1 billion and underlying earnings per share increasing 6% to $4.48. The damage came from its current-trading update. Australian sales were almost flat during the June quarter and deteriorated further in July, while earnings in the core Australian electronics business fell 3.6%.

Housing-related categories were particularly weak as higher living costs and interest rates constrained household budgets. With JB Hi-Fi entering the season on a demanding valuation, an in-line historic result was not sufficient: the loss of sales momentum prompted investors to rapidly reduce their expectations for FY27.

Overall, the season showed that share prices react less to whether profits rose or fell than to the gap between results and expectations. Bapcor was rewarded for being less troubled than feared, while several fundamentally profitable companies were punished because their outlooks failed to justify elevated valuations.