Callouts & quotes from 37,061+ activist slides

"While once a consensus “Buy”, sentiment on Southwest has substantially deteriorated amid poor execution and failed efforts to get back on track"

"Unlike several of its private and publicly traded peers, AerCap did not have to take large asset value impairments during and after the crisis."

"We struggle to understand the market's perception of Heska as a growth company when the Company has such a poor track record of organic growth."

"We believe Heska's scil transaction exemplifies a stereotypical case of management empire-building for the sole purpose of self aggrandizement."

"Grossman’s tentative and artful choice of words on the August 5th and November 4th earnings calls suggest all is not well with the Omnia launch"

"In our opinion, Ströer not disclosing the failure of this pillar of its digital strategy, and not impairing Ballroom is egregiously misleading."

"He is an exceptionally gifted deal-maker and for him, every week that goes by without him buying a company or closing a deal, is a week wasted."

"Because the business is focused on crop protection instead of seeds, Bayer has been relatively immune to the current down cycle in agriculture."

"Disney’s share price is just barely higher that it was 1 year ago and lower than it was 2 years ago, 3 years ago, 4 years ago, and 5 years ago."

"GGP shares appreciated dramatically as key catalysts unfolded prior to exiting bankruptcy, culminating in a "re-IPO" at an attractive valuation"

"There is NO Tesla killer. Competition is nowhere to be found and no electric vehicle is slated to launch at the Model 3 price point until 2021."

"Passive funds now represent more than half of all mutual fund and ETF assets, making inclusion in the indices they track increasingly important"

"We believe the long-term risk from AVs is limited and estimate that Uber’s share price is likely to more than double over the next 3 to 4 years"

"As a result, backlog coverage, or the share of guidance supported by next-12-month backlog, declined from over 60% in 2023 to just 48% in 2025."

"MGH stated the NOP service is about control, not cost savings or efficiencies – “as an institution, you have to start asking...is this viable?”"

"The trachea implants that Macchiarini employed turned out to be one of the most gruesome cases of medical device quackery and fraud in history."

"AOL spent approximately $668 million on acquisitions from 2009 to 2011, as well as an additional $235 million in its investment in Patch alone."

"Management has turned Sony around operationally. As they shift their focus to portfolio, we think Sony is on the cusp of massive value creation"

"It is well-known as a dirty, high-risk drug with potential for fluid retention and heart failure; co-administration with diuretics is standard."

"Soleno and VYKAT XR’s dependence on one physician has little precedent in drug development – we think the drug may as well be called MILLER XR."

"CFO Nussey doesn't give a transparent answer when pressed for reasons why LSPD got better economics, and instead just says "benefits of scale"."

"Large placebo effect with improvement every week over 8 week trial duration, and no separation vs. placebo after weeks 2 and 3 (visits 4 and 5)"

"if I could only select from all the narcolepsy drugs, so I could only have one drug for all of my patients, I think it would not be pitolisant."

"The EMA review makes no mention of this purported pre-specified Statistical Analysis Plan and bluntly states it was “not pre-planned analysis.”"

"She doesn't have any psychosis or bipolar or anything that would say we can just write this off as the fact that she's had psychiatric illness."

"The timeline provided by [L3] has the potential for disruption in schedule, due to the excessive time it takes to install an individual system."

"The replies indicate that VYKAT XR is backfiring and INCREASING hyperphagia (hunger), the exact opposite of the drug's only labeled indication."

"With CEO Dominik Richter likely having faced multiple margin calls on his pledged shares, he has a clear incentive to prevent further declines."

"As can be seen in this budget, any decrease in BTC mining revenues due to another drop in the price of BTC would produce an even worse outcome."

"The above graph is shows Baidu’s search Index for “Ganji Wang”, which is the Chinese name of Ganji’s website, from Jan 1, 2013 to Jan 27, 2020."

"We see this as overwhelming evidence that the goodwill attributed to this acquisition should now be significantly, if not completely, impaired."

"While once a consensus “Buy”, sentiment on Southwest has substantially deteriorated amid poor execution and failed efforts to get back on track"

"APD’s share price including dividends and the spinoff of Versum increased by 76% from our average cost at announcement date to January 20, 2017"

"As shown in the chart below, the more revenue Agility generates, the more money it loses - in that sense, Agility is more of the same for INOD."

"This means that one of YT’s associates was sitting on both sides of a transaction that supposedly put his assets out of reach of his creditors."

"However, as we can see below, the results that PMV shared in their latest 10-K8 did not line up, suggesting that they are not the same protein."

"Goldrone does not appear to be a defense-related company in any way, but the company develops and manufactures drones for agriculture purposes."

"We believe Enfusion trades at an undeserved premium multiple to a broad range of financial technology peers serving the asset management space."

"By all key operating measures, Dr. Hantson and his team have taken meaningful steps to improve the business during his relatively short tenure."

"As they moved even deeper into the interior toward the entrances and lobbies, no evidence typical of an R&D or production facility was evident."

"App rating is based on all countries or regions and the rating may vary based on user location and device type — Remitly Investor Presentations"

""If I were to take a conservative estimate, well over 50% of GFL's 100+ acquisitions I'd characterize as a failure." — Canada Industry Observer"

"In the coming year, there will be almost 300 million in output volume for orders from Huawei, ZTE, Lenovo and Coolpad. — Lin (CEO of NQ Mobile)"

"“The stock is trading at such a discount to peers because of management – no one trusts Matt.” — Top 20 shareholder of Dye & Durham – June 2024"

"Although the business has already existed for almost a decade, Greg Poling calls Verifi a "new market place" and an area of focused investment."

"Even worse, an industry expert recently outed "legacy fraud verification vendors" for selling a "useless" product and double-billing customers."

"Throughout the last seven (7) years, Porch has established many partnerships across a number of home-related industries. — Porch SEC Prospectus"

"Signatures Party A (left): Bangxin Zhang, Yachao Liu, and Yunfeng Bai Party B (above): Beijing Shunshunbida Legal Rep: Yang Zhang July 13, 2015"

""SK Foods Former and CEO Scott Salyer Pleads Guilty to Racketeering and Price Fixing in California," — US Department of Justice, March 23, 2012"

"Tomato Growers Association, Tomato Bulletin, January 19, 2012. http://ctga.org/static/uploads/Bulletin_1.19.12.pdf — Tomato Growers Association"

""The Compensation Committee does not believe that equity-based incentives are a valuable incentive for employees of the Company" — Weis Markets"

"And our model and our track record has been to acquire. We've done 25-plus deals in the last 6 or 7 years. — CEO Delia, Citigroup Conf Dec 2019"

"We estimate fair value using an equally weighted combination of discounted cash flows and multiples of revenue and EBITDA. — 2014 Annual Report"

"Ex-Ontrak chairman was accused of abusing trading strategy that usually shields executives against suspicions of insider trading — WSJ Headline"

"“I’ve never seen a device manufacturer so boldly engage in off-label use themselves” - Executive at a West Coast OPO, longtime industry veteran"

"Source: Kerrisdale analysis based on “Illustrative Cash Flow Impact of New Contract” disclosure provided to sell-side analysts on June 9, 2025."

"“No clear association between pitolisant and pulmonary edema is apparent in this narrative.” — FDA CDER Clinical Review (Solages, Sep 28, 2020)"

"“And that was my response to having patients who had experienced long QT syndrome.” — Neurologist at a large hospital system in a Midwest state"

"Готовы предложить номера Стандарт твин с 2 мя раздельными кроватями (1-для ребенка,2-для сопровождающего) — Novotel Arkhangelsk representative."

"Sorry! 28 March — 5 April. Supervisors have power of attorney to guard the girls from the Donetsk People's Republic. Would that work? — Evgenii"