Callouts & quotes from 37,061+ activist slides

"If a Disney shareholder bought stock on 93% of those days, their shares would be worth less than they paid."

"Disney has underperformed almost all its peers despite having best-in-class parks and entertainment assets."

"We believed there was significant opportunity to improve these companies on a growth + profitability basis."

"We have made several illustrative modeling assumptions to estimate the long-term earnings power of the GSEs"

"We believe Zillow’s shares trade at an unwarranted premium to many fundamentally sound internet businesses."

"Using market multiples for the rest of Phillips' assets implies its Refining system is valued at $1bn today"

"PSCM intends to launch new investment funds which could substantially reduce PSH performance fees over time"

"We Believe Investors Are Overlooking Intensifying Competitive Pressure From Private Equity-Backed Platforms"

"We believe the Street is overly bullish on Limbach, highlighted by its unanimous Buy rating on the Company."

"Casino's management shows strong indications of deception toward investors on numerous key business issues."

"MGH soured on the relationship, bypassing protocols to run up the cost to $200K; "utilization at all costs""

"Most DCD's have excessive warm ischemic time; organs deteriorate rapidly after 30 minutes and unrecoverable"

"It’s a ticking time bomb. It’s a ticking time bomb. They’re cutting corners. Wait until somebody finds out."

"His LinkedIn Bio shows only two years of total surgical experience – in India – before joining TransMedics."

"The crux of our short thesis has been that Vivion’s property valuations (and financials) are untrustworthy."

"Mr. Shaw's TOP|SPG strategy has resulted in a deteriorating operating ratio since being introduced in 2022."

"Norfolk Southern has missed consensus EBIT targets in six out of eight quarters since Alan Shaw became CEO."

"Because of strong NAV and stock price performance, PSH was added to the FTSE 100 index on December 21, 2020"

"We expect companies in which we invest to have a credible, publicly-disclosed plan to reduce GHG emissions."

"We believe that there is near-term potential for a favorable resolution of the status of Fannie and Freddie"

"When major/minor publications start writing about “revolutions,” this is often a signal of toppy sentiment:"

"We also caution investors that IRBT does not appear to have good internal controls on its patent portfolio."

"Pure-play gaming and entertainment comps suggest consolidated "New Sony" would trade between 12x - 15x EBIT"

"Leidos has been losing market share to Smiths Detection in the U.S. baggage detection market for some time."

"The label alludes to GH combination therapy with Vykat as a precipitating factor for diabetic ketoacidosis."

"A handful of trial sites enrolled a substantial percentage of patients for phase 3 and the withdrawal study"

"We Believe Lightspeed Is A Poor Man’s Shopify And Will See Increased Pressure From Square, Adobe And Amazon"

"A key driver of pitolisant’s hERG-related cardiotoxicity is the piperidine ring in its molecular structure."

"There is this cardiovascular signal, which was known - I'm sure it was known as soon as people profiled it."

">Cardiac safety data submitted to the FDA was a sham, and the agency’s interpretation exhibits grave errors"

"The players who will survive and ultimately prosper are the ones on the low end of the regional cost curve."

"Monster's UK filings no longer reference goal achievement or a successful business in its existing markets."

"They develop hairiness. They develop diabetes. They develop edema. We had to give diuretics to some people."

"Share price stagnation reflects ongoing concerns about the impact of low oil prices on HHC’s Houston assets"

"The findings of the FTC substantially agree with our assertion that Herbalife operates as a pyramid scheme:"

"We believe there is absolutely no way to refute the fact that Globe Teleservices is a related party to INS."

"The peculiarity of how EGH was able to sell a property to IIPR before even owning it is already disturbing."

"The findings of the FTC substantially agree with our assertion that Herbalife operates as a pyramid scheme:"

"We believe the new administration will work with Congress to successfully reform Fannie and Freddie (cont.)"

"Ceres touted the “scale-changing” potential of a Chinese manufacturing JV with Weichai, yet it led nowhere."

"Unbilled receivables are growing and Enfusion recently removed reference to them being due within one year."

"Lasertec light source is highly instable due to electrode erosion where the tin is ignited to create plasma"

"This, of course, explains the statistical omissions in the SPIE papers lauding the tool’s purported uptime."

"Based on our analysis, we estimate approximately 35% to 60% potential downside risk ($14 to $22 per share)."

"China’s GDP figures are “man made” and “for reference only” — Li Keqiang (via U.S. State Department cable)."

"I'm not going to be sent here and there like a clown! I wanted to see the documents. This won't do! — Klein"

"If [Phillips 66] can't improve results, lower expectations? — Elliott Investment Management, April 22, 2025"

"This is above already the annual target, so very, very good job — Management Commentary (October 11, 2016)."

"To my friend Wilfred Frost: Please note that my seven year old came up with that association. — Footnote 66"

"“I don't use the word ESG anymore, because it's been entirely weaponized” — CEO Larry Fink, 25th June, 2023"

"Some of the more commonly used adjectives are “gangster (流氓)”, “brute (禽兽)”, “garbage (垃圾)”. — Muddy Waters"

"注: NAVを算定する全てのセルサイドアナリストが、EV-Equityブリッジにおいて販売金融を切り出すか、またはネットデット分析に含めないP/Eアプローチを採用している(2) — 会社開示資料、Bloomberg"

""SKUs have doubled over the past 10 years. The reason was to increase sales" — Jefferies, September 1, 2023"

"I think that there's not a competitor out there that we worry about. — CFO Okupe at 5/10/23 BAML Conference"

"in order to preserve and increase our market competitiveness and expand our business. — Perion Network Ltd."

"“I don't use the word ESG anymore, because it's been entirely weaponized” — CEO Larry Fink, 25th June, 2023"

"They have an on-site R&D lab that can support new product development and launches. — Ronald Lombardi (CEO)"

"US company provided kickbacks to doctors in Switzerland — Swiss Broadcasting Corporation (via swissinfo.ch)"

"Health & Beauty (H&B) was sluggish, down 4.3 billion yen, due to... increased costs at Bondi Sands — Nomura"

"“Beacon system enables high-resolution screening of plasma B cells with unprecedented speed.” — BLI Website"