Callouts & quotes from 37,061+ activist slides

"A handful of top distributors take nearly all of the cash flow; almost no one joining today can reach the top"

"Management continued to repeat these claims on the next two earnings calls on Oct 31, 2023, and Jan 31, 2024."

"2026E revenue estimates have only modestly declined, with significant room for contraction and disappointment"

"This seemingly violates U.S. OFAC sanctions for which we understand the U.S. seller would be strictly liable."

"Resolving TeliaSonera’s legal issues with governments could cost it in the tens of billions of Swedish Krona."

"We are confident than ONP is a fraud. Its purpose is to raise and misappropriate tens of millions of dollars."

"We are confident that ONP is a fraud. Its purpose is to raise and misappropriate tens of millions of dollars."

"“members of [the compensation] committee should be held accountable for this lack of oversight” — Glass Lewis"

"That, I think, is hiding and retreating behind BaFin and sounds more like impotence than strategy. — Mr. Kiel"

"“there is no trail of evidence” to explain the purported breakthrough — Jeff Sakamoto, University of Michigan"

"Reit'z counsel notes his clients intention to "retain any and all funds in R&O's possession" — Reit'z lawyers"

"Investors Generally Prefer That Independent Directors be a Substantial Majority of the Company's Board. — ISS"

""On an absolute basis, Hess and Continental's Williston basin acreages are very comparable" — W.D. Von Gonten"

"“Launching a new incompatible brewer system would be a significant risk for the company.” — Professor of Law."

"My jaw dropped — Former executive regarding the $10m paid for a former plumbing station in rural southern NJ."

""hadn't really done that much work" — Agrium's VP of Corporate and Investor Relations (commenting to Reuters)"

"An industry professional questioned ‘whether there is any management of Caesarstone's sales channels at all.’"

""Phillips 66 refineries are every bit as good as [those of its peers], Valero & Marathon." — Brian S. Coffman"

""Can anyone remember what our core business is?" — Richard Cline; The New Yorker Collection/The Cartoon Bank."

"TMTG 'intend to create a media and technology company rooted in social media...' — TMTG Investor Presentation"

"「マスク工場は毎日24時間稼働しなければいけないので、各装置の稼働率の1%、1%が極めて重要だ。85%以下の稼働率は許されない。」 — KLA (presentation on EUV mask inspection)"

"The AR monetization facility contributed only $7 million during the quarter — Leidos Q3 2020 Conference Call."

""Taubman reported metrics that were ahead of our expectations in almost all respects" — Green Street Advisors"

"Yes. First and foremost, what I would say is our accruals at June 30 are complete and accurate. — Rollins CFO"

"PIONEERING THE ART OF RESPONSIBLE HOSPITALITY, CONNECTING CULTURES, WITH HEARTFELT CARE. This is our Purpose."

"As Nordea (and other Nordic Banks) have fallen out of favour, Sampo’s share price has been collateral damage"

"GoDaddy's margins are significantly below its peer group, despite having a similar business model and scale."

"We are excited to own the business at current valuation multiples as we believe there is substantial upside."

"As of January 20, 2017, HHC’s share price increased 190% (2.90x) since the spinoff from GGP in November 2010"

"We believe these connections best position Sportradar to maintain its dominant position in the United States"

"What does chairman Michael Yu have in common with Mannie Fresh? They both got everything in they momma name."

"There is an argument that companies in China are un-auditable because it is so easy to defraud the auditors."

"Elliott intends to pursue all available pathways to deliver the leadership changes that the Company requires"

"We believe the lower barrier to entry is reflective of the low value proposition of partnering with Generac."

"In October 2017 Box accelerated its timeline to $1Bn of revenue, while claiming industry-best predictability"

"On what grounds are we to believe that loans originated by Carvana perform better than all other auto loans?"

"Spruce Point Is Not Aware of Why Any Healthy and “Successful” Company Needs To Regularly Tap Bank Overdrafts"

"The regulator also cited Dycom's subsidiary as the contractor working with Frontier to conduct illegal work."

"The whole different culture, I think that's the biggest thing that keeps anybody from even trying to buy it."

"We believe fixing ADP’s competitive position will increase ES’s potential revenue growth from ~4% to 7% – 8%"

"Note change in language, removal of discussion of veterinarians (though we know this continued through FY17)"

"Darden has a great collection of brands and assets that, if managed correctly, would drive significant value"

"Olive Garden does a poor job of converting searches into visits, and converting visits into repeat customers"

"With the right leaders in place and with a culture of innovation, we believe Olive Garden will be successful"

"Refranchising can generate capital and improve the quality of earnings with a limited reduction in cash flow"

"Family Dollar’s lower profitability is a result of both lower sales per square foot growth and lower margins"

"The creation – not just the identification – of value; we believe Elliott's strength is in catalyzing change"

"Peers have been able to reduce advertising costs per tire, while Goodyear's advertising costs have increased"

"The problem is that 30,542 of these LCD displays aren't LCDs at all – they're just simple cardboard posters."

"But I'm home now. There shouldn't be anything on QQ because our hard drives have been replaced at that time."

"Clear losers will likely see a "Vaccine Mirage" from pent-up demand before fundamentals and shares roll over"

"We note proclamations going back 30 years that quantum computers are on the verge of transforming the world."

"Monroe is basically missing in action and Kim allegedly disappears for weeks at a time because he’s at Duke."

"As an analogy, imagine if AMD claimed to have the world’s best CPU, while actually purchasing it from Intel."

"Just one to three years' worth of U.S. patient growth remaining given the recent rate of U.S. patient growth"

"The Potential Rerating for “Good” Viacom Management Could be $13.2B in Market Cap or Approximately $38/Share"

"After raising its original 55-65% target to 64-68% - but achieving 55% - Autodesk set its new target of 45%+"

"Autodesk began transitioning large enterprise customers from multi-year, upfront billings to annual billings"

"We believe this strategy resulted in a significant shift in business mix that ultimately proved unsuccessful"

"Widespread acknowledgement that Hess is cheap but significant strategic change is necessary to close the gap"