Callouts & quotes from 37,061+ activist slides

"While They Can Be Beneficial, Shareholder Consulting Agreements are Not the Same as Board Representation"

"Consensus estimates indicate a $6.8bn shortfall. The bulk of the deficit (~$4.9bn) is driven by refining"

"We believe Peter Huntsman is directly responsible for allocating funding to Dr. Beckerle’s organization."

"Covestro believes a 300 – 600bps margin improvement opportunity is available in its downstream business."

"AOL's worldwide subscribers declined 7% in 2004 and are expected to decline 10% and 7% in 2005 and 2006."

"Feedback indicated that they have an approximately two-year lead on the industry in inverter technology."

"In a pyramid scheme, the money at the top is made from the losses of people at the bottom of the pyramid"

"In a pyramid scheme, the money at the top is made from the losses of people at the bottom of the pyramid"

"In 2014, Platform's share price increased by 69% including the attached warrants associated with the IPO"

"Citron Research is now cautious about the current valuation and warns investors of the risks, including:"

"With both investors and employees seemingly dissatisfied, PPG's leadership culture needs to be addressed"

"Management has announced a series of actions to reinvigorate U.S. SSS growth over the next several years"

"Management has announced a series of actions to reinvigorate U.S. SSS growth over the next several years"

"So the portfolios are poison. They aren’t really needed to carry out the function of Freddie and Fannie."

"We are happy to be the first analysts to publicly call bullshit on this myth of a nearly infallible CEO."

"At our forecast of peak earnings, we value INGN at $46 per share, a 67% decrease from its current price."

"At our forecast of peak earnings, we value INGN at $46 per share, a 67% decrease from its current price."

"A Willingness to go in and mercilessly cut costs to take it down to the studs and build it back up again"

"In 2014, Platform’s share price increased by 69% including the attached warrants associated with the IPO"

"Claims of Transparency are Disingenuous – Attempted “Tax Avoidance” Continues to Generate Damaging Press"

"How could auditors have signed off fictitious sales such as revenues from the German Institutional Bank?"

"The real book value of the acquired assets should have been less than S$38 million – probably much less."

"For the last 5 quarters, rather than cut the dividend, the company has paid out more than it has earned."

"PLEASE NOTE: THIS IS NOT A SOLICITATION OF AUTHORITY TO VOTE YOUR PROXY. DO NOT SEND US YOUR PROXY CARD."

"Even using such a conservative assumption, we estimate that BEKE’s revenues are likely inflated by ~96%."

"Again, we find what appears to be a single location accounting for two active stores on BEKE’s platform."

"At a 9.5% Cap Rate and a 7.5% decline in NOI, Realty Income would have a stock price of ~$14 (down ~46%)"

"A combination of factors are driving the excessive valuation discount, but they can be readily addressed"

"HGV missed its targets at its 2018 investor day, reducing confidence they can achieve $125M in synergies"

"Superstores performance has also been masked by declining music sales and certain one-time costs in 2006"

"However, Chinook does not make specific disclosures about these transactions being with a related party."

"We think ACMR will land transformational tier one wins that are not factored into its current valuation."

"Only 32% of employees from a recent Glassdoor review have a “Positive Business Outlook” on Weis Markets."

"The Transaction achieves significant cash flow savings given the tax-efficient structure for owning land"

"The Transaction achieves significant cash flow savings given the tax-efficient structure for owning land"

"Even ignoring valuation benefits, there are important strategic reasons to consummate the Transaction..."

"Based on “TIPS”-based valuation of TIP REIT, the implied TIP REIT valuation is $29bn, or $40/share today"

"Given the above factors, TIP REIT will trade at a lower cap rate than an individual private ground lease"

"The implied TIP REIT valuation range on TIPS-based NAV analysis is $26 – $31bn, or $36 – $44/share today"

"The implied TIP REIT valuation range on TIPS-based NAV analysis is $26 – $31bn, or $36 – $44/share today"

"Astra's financial forecasts rely on launching an astounding 165 rockets by 2024 and 300 rockets by 2025."

"There's no real business there; nothing tangible; lack of any product success after 13 years is red flag"

"60% - 75% Downside For A Sum-of-The-Parts Valuation of a Structurally Disliked And Misunderstood Company"

"Amcor's organic revenue decline appeared to accelerate in the period from Sept 30, 2019 to Dec 31, 2019."

"Amcor's organic revenue decline appeared to accelerate in the period from Sept 30, 2019 to Dec 31, 2019."

"The pathological changes that may have occurred in patients with Nevro’s HF10 therapy are being studied."

"Global FMCG companies should achieve this level of growth just through annual pricing adjustments alone."

"We expect the total value to be about $600 per share, or $150 higher than the current stock price today."

"The NewMed transaction appears to be self-serving for members of the Capricorn Board and management team"

"Disney’s Board Has Failed in its Core Responsibilities and Has Not Been Held Accountable to Shareholders"

"While They Can Be Beneficial, Shareholder Consulting Agreements are Not the Same as Board Representation"

"In short, we believe the SEC's investigation is a serious matter reflecting significant regulatory risk."

"Frankly, we would be disappointed if every single independent director didn't buy at least 5,000 shares."

"TSMCの研究開発の元責任者、同社の元幹部で長年購買の責任者を務めレーザーテック製の検査装置の導入を担当した人物、複数の取材先から得た情報は、TSMCが数年も前にACTIS装置の購入を止めた、ということです。"

"We Express Doubt With Nova’s Ambition To Become An Integrated Producer Of Antimony And Tier 1 Gold Miner"

"We will be cautious: assets will be stored and held in reserve until we are certain they are not needed."

"“Real estate timing issues” do a poor job of explaining a drop in H1 new store openings of over a third."

"Deteriorating Macro Situation In China > Negative For Housing > Negative For Housing/Consumer Appliances"

"Sony Financial is distinguished from peers by its “growth culture” driven by unique “Life Planner” model"

"The higher variance vs baseline makes more DCCR patients reside in the full-blown T2D zone (vs baseline)"