Every emphasised callout and every pulled quote, extracted slide-by-slide. Search by keyword, filter by slide type or by source.
"According to the 10-K, BID generated $26M of 2013 Agency commission revenue from Finance loan collateral. Assuming ~28% average Agency margins and 35% taxes, yields $4.7M of net income, or ~4% of ROE. Some of these sales may have occurred without financing."
"If you look even at the big airlines that have lower margins than the top two, there’s a core airline within them that has the same kind of margins as United and Delta, but it’s dragged down by the stuff that loses money. — United CEO Scott Kirby, June 2024"
"「この製品はまさに魔法です(...) とても癒され、成分豊富で、かつ潤いも与えてくれます」 — MakeupAlley (Curél, US). 「実に革新的な製品です」 — Try&Review (freeplus, Singapore). 「食べられるのなら食べてしまいたいほど、最高！使うことが楽しくなるご褒美です」 — Cult Beauty (Molton Brown, UK). 「この日焼け止めが大好き！日焼け止めを毎日使うのはこの製品が初めてです」 — Kokoro (Bioré, Japan)."
"最も高い利益と最も多くのリピーターを持つ企業というものは、高いロイヤリティに恵まれているので、実は、事業運営ではマーケティング費をほとんどかけていません。これは少々理想主義的な話ではあるかもしれませんが、例えば、一度発売されると高いロイヤリティのおかげで長期間使用されるような、徹底的に研究された製品さえあれば、必要なマーケティング費用は、実はごくわずかで済むのです。一方、すぐに別の製品に切り替えることが可能な製品の場合ですと、多額のマーケティング費が必要になります。 — 長谷部佳宏社長 2023年株主総会にて"
""Overplanting" refers to the situation in which the installed generating capacity or nameplate capacity of the facility is larger than the generator's grid connection. — National Policy Statement for Renewable Energy Infrastructure - EN-3, Appendix 6, p. 95"
""Iger has systematically eliminated any executive who could become a successor. To me it’s a real black mark on Iger’s record." – Gary Wilson, Former CFO of Disney and Director (on Board for 21 years, up to and including the first hiring of Mr. Iger as CEO)"
"Kullman’s most recent aggressive sale and price targeting raises a red flag and questions as to the CEO’s valuation view...That was the largest sale at DD in at least 10 years [September 2014 exercise-and-sale transactions]... — InsiderScore Report, 9/25/14"
"If you look even at the big airlines that have lower margins than the top two, there’s a core airline within them that has the same kind of margins as United and Delta, but it’s dragged down by the stuff that loses money. — United CEO Scott Kirby, June 2024"
"Nuvei (formerly Pivotal Payments) has a dark history in Canada. An investigation of small businesses across Canada reporting hidden charges and misleading sales practices pointed to Pivotal. A spokesman described its salespeople as "sometimes overzealous.""
"Since Jan 1, 2019 GFL has spent over C$1.8bn on acquisitions and OCF has barely increased while FCF has worsened. Granted there is a COVID-19 impact in H1 2020, but with so much money spent on acquisitions, Spruce Point is surprised there is no FCF growth."
"While helping to establish mechanical thrombectomy as the new standard of care for acute ischemic stroke, the MR CLEAN study did much more to justify the use of stent retrievers than it did any other method of intraarterial acute ischemic stroke treatment."
"Tellingly, IPX no longer shows a slide outlining the U.S. Titanium Metal & Powder market to show its position among current and potential product end users even after retaining scientific advisors and former industry executives with business relationships."
"In contrast to the fake commercialization narrative pushed by IonQ, ex-employees and leading quantum experts indicate that its current 11-qubit computer is a useless demonstration “toy” for R&D tinkering, with no commercial relevance or practical use cases"
"On the Q3 call, CEO Chapman talked up their commercial momentum: "IonQ is the only provider of quantum computing hardware available on all three major public clouds" and has "integrated IonQ's hardware" with "platforms like IBM's Qiskit and Google Search.""
"As discussed on slide 9, we believe HMHC's stock would have been higher after the announcement of strong Q4 results leading to a share price at or above $19.50 per share, implying an insufficient premium of 7.7% instead of the 36% advertised by the Company"
"Xylem has repeatedly said that conversion of digital backlog to sales is higher margin. However, according to a former high-level executive, digital sales are actually dilutive to margins and do not scale as a result of the human capital investment needed."
"Dr. Kleinfeld founded and led the internal consulting group at Siemens before becoming the company's CEO. He has brought that approach over to Arconic and has scores of internal and external consultants who have outsized power and influence on the Company."
"Transportation costs are a critical factor in the attractiveness of purchasing coal for customers, given that the customer assumes the cost. AMR is heavily reliant on export sales, which means AMR absorbs the cost of moving the coal to the export terminal."
"Our investigators spoke to a former Premier employee who said that the facility around the time of the acquisition was only 280 square meters and employed only nine other staff members, including the General Manager, the husband of one of the shareholders."
"Controlling the Supervisor role is an effective way to ensure ANTA maintains control because PRC law gives the Supervisor the ability to inspect the company's finances, recommend senior managers and directors be dismissed, and propose shareholder meetings."
"Fact: Oatly gained limited traction in China in 2011-2013 under the effort of founder Oste. In addition, its story about how it entered the market in 2018 first through coffee and tea shops is not accurate according to a statement from its China President."
"Spruce Point finds clear that Saputo is struggling in Europe, and recently made modifications to its competition discussion that suggests a loss of share. We observe that the percentage of retail sales are in decline, and that EBITDA margins are declining."
"Everything we do starts with great products; and all our products start with proven science. Herbalife is dedicated to developing innovative, effective products that comply with the highest research, development and manufacturing standards in the industry."
"We have a more sober view of Axon’s valuation as we believe there is ample room for disappointment around Axon’s ability to penetrate adjacent software needs of law enforcement, including dispatch, records management, and artificial intelligence analytics."
"According to an expert, due to nationalistic pride of wanting to partner with Amazon, we believe there will be fiercer competition resulting in: 1) Lower margins to Kornit or, 2) A complete loss of the business to a Japanese firm with more local resources."
"Spruce Point believes there is significant downside risk to MSCI’s share price as its premium multiple is reconsidered by institutional investors in the face of intensifying competition, moderating cash flow and dividend growth, and lower earnings quality."
"From a penny stock to a $5 billion market cap with no proven or probable reserves and now trading at 42x highly questionable 2026E revenue estimates, we believe investors should exercise extreme caution and believe there is 65%-85% potential downside risk."
"Perion claims a top growth element is its Content Monetization Platform (Wildfire), acquired through Content IQ. But what’s laughable is Wildfire’s website hasn’t been updated in years and still lists the former CTO Miki Kollo (who left around March 2021)."
"Spruce Point believes there is significant downside risk to PERI’s share price as the Company is signaling financial strain and will have difficulty in hitting lofty growth targets while cash flow is starting to contract and it accrues for severance costs."
"A majority of the BR stock promoters are neutral / hold with their BR recommendations. Yet, we don't believe any of the analysts have conducted a rigorous forensic review of the Company to stress test its accounting and claims of being a SaaS-like fintech."
"The biology was very much an afterthought for them. It's been very engineering-focused, very microfluidic-focused, but if you want to do medical research and you want to do cell biology, you better think about how the cells are going to behave on the chip."
"Taken together, Astra's acquisition of Apollo Fusion and V-band spectrum application are uninspired attempts at mimicking the strategies of more advanced competitors which underscore the limitations of its undersized rocket in providing in-space solutions."
"Scil generated 31% gross margins in 2018 and 2019, indicative of the Company's distribution business model. Of note, the Company was barely profitable on an operating basis despite scil management receiving Wilson's praise for their operational excellence."
"This kind of aggressive rep behavior goes on a lot. That's a big part of the business and I think it's incentivized as a big part of the business. Wink-wink, not verbally. The companies say it's all about the patient. It has nothing to do with the patient."
"Limbach previously included a footnote in its financial statements indicating whether its existing backlog substantially covered forecasted revenue but removed that disclosure in Q1’25, supporting our view that backlog coverage has materially deteriorated."
"Part 6. TransMedics device usage is, we conclude, almost all off-label, the largest such racket we have encountered, putting it at existential risk: “I’ve never seen a device manufacturer so boldly engage in off-label use themselves…it’s their technician.”"
"A transplant administrator at a pre-eminent center, one of the highest volume in the world, alleged that TransMedics attempted to "bully" the local OPO into granting them credentials to log into DonorNet, which they have allegedly obtained via another OPO."
"LinkedIn bios for other TransMedics surgeons lead us to think that thay are generally imported from India, Pakistan, Iraq, China, Eastern Europe, and so forth; have short tenures at the company of a year or two; and/or may be near the end of their careers."
"Saverio LaFrancesca, a “Principal Cardiothoracic Surgeon,” was previously the President and Chief Medical Officer of Biostage (NASDAQ: BSTG), a micro-cap pump-and-dump engaged in quackery and which was involved with the notorious surgeon Paolo Macchiarini."
"Bob Evans continues to be viewed as a restaurant company by investors and there are no packaged foods analysts following Bob Evans, even though almost half of Company EBITDA is generated by the growing and highly-profitable BEF Foods packaged foods segment"
"During interviews conducted with a range of experts in spacecraft design and manufacturing, we encountered a wall of skepticism regarding numerous aspects of AST's unusual satellite design, chief of which are its structural dynamics and thermal management."
"High concern about Vykat's tablet formulation, given swallowing issues and high risk of choking in PWS patients, indicating that patients simply chewed the pill instead, which is contraindicated and defeats its rationale as an extended-release formulation."
"The cumulative damage to shareholders’ interests must now be stopped and the BEA board needs to finally focus on delivering proper value for BEA shareholders, by conducting an auction process to explore the scope for a sale of BEA at an appropriate premium"
"Thus, our estimation using a corrected comparator suggests that the PhenoTest is faster by about 16h to deliver AST results, because it does skip the step of sub-cultures. Therefore, the time advantage is only 40% and not more than 75%, as claimed by AXDX."
"The Board of Directors shall establish and publish a capital allocation plan (hereinafter, the “Plan”) by 31st December 2024 to facilitate a growth-oriented investment strategy and a balanced return to shareholders to enhance the Company’s corporate value."
"Maybe rounding this up and coming a little bit back to your second question, how the most recent acquisitions fits into that structure, and maybe I'll try to give you 2 or 3 examples and linking it just back to what Udo said. — Unknown Executive, Ströer SE"
"“...so in our most recent quarter, on that metric, we reported 106%. And I think the kind of commitment in what Mark [Wayland, Chief Revenue Officer] was saying was we're going to improve that rate from here.” — CEO Aaron Levie, 2019 BoxWorks, October 2019"
"The claim for judicial review is allowed. (7) The non-material amendment (reference DM/23/03147/NMA) made by the Council on 7th November 2023 is quashed. (8) The Council do pay Mr Galloway’s costs of the proceedings summarily assessed in the sum of £9,000."
"“Starboard's average return on a 13D filing is 26.4% (versus an average of 9.7% for the S&P500 during the same time periods). However, when they have received a board seat, their average 13D return has been 34.5% versus 14.8% for the S&P500.” — 13D Monitor"
""I have consistently communicated my belief in the importance of deleveraging. I've been transparent about our attention to take the debt down to 0... I'm excited for the day when we can announce that our debt has been paid off." — CEO Stetson, May 5, 2022"
"In general, we believe that there is strong evidence that vertical integration between content and distribution companies has had limited, if any success. — Morgan Stanley (Richard Bilotti, The Sum of the Parts is Greater than the Whole, December 15, 2005)"
"In general, we believe that there is strong evidence that vertical integration between content and distribution companies has had limited, if any success. — Richard Bilotti, The Sum of the Parts is Greater Than the Whole, Morgan Stanley, December 15, 2005."
"What are you looking for? Work From Home, Extra Income, Own Business, Financial Freedom, More Spare Time, Personal Development, Helping Others, Meeting New People, Retirement / Pension, Leave a Legacy — Herbalife Independent Distributor Presentation (2010)"
"Yes. Obviously, we don't give margin targets by segment, but I would say that within ESG and Climate, our focus is really on driving top line growth, not margin expansion. And so we're not targeting for the margin to expand from current levels. — CFO Q2'22"
"“...we and our subsidiary bank received a proposed consent order from the Federal Reserve Board relating principally to various aspects of compliance risk management, including consumer compliance and compliance with AML regulations.” — Green Dot 2023 10-K"
"“An example is Uranium Energy Corp. One of its directors is Stephen Jewett, a Vancouver CA who was barred by the CA institute from auditing any public companies after he mishandled the audit of an unrelated Vancouver junior company.” — Investment Executive"
"「アクティニックはマスク検査には不十分となっていくでしょう。なぜかといえば、その解像度では捉えられない欠陥が問題となるからです。各局、電子ビームが必要になります。マスク上の要素（トランジスター）は極端紫外線の波長である13.5ナノメートルよりも小さくなります。だから、検査するためには極端紫外線よりも高い解像度が必要になります。したがって、各社は電子ビームのソリューションの開発に取り組んでいます。KLAはその1社です」 — 半導体製造装置企業の上席幹部として長年の経験を持ち、レーザーテックのCEOに親しい人物"
"HGV is trading at a material discount to its closest peer, Marriott Vacations Worldwide Corp. (NYSE: VAC) ("VAC"), based on 2022 EBITDA, whereas HGV historically traded at a comparable multiple to VAC. — HGV's Response to 4.20.21 Land & Buildings statement"
"A composite outcome consists of two or more component outcomes. Patients who have experienced any one of the events specified by the components are considered to have experienced the composite outcome... Unfortunately, composite outcomes can be misleading."
"A qualitative impairment analysis was performed on all reporting units for the fiscal year ended 2019, while a quantitative analysis was performed for fiscal years ended 2018 and 2017. The analysis concluded that goodwill was not impaired. — ACMR 2019 10-K"