Callouts & quotes from 37,061+ activist slides

"“we just spend money; we don’t make money.” — Chan Zuckerberg Biohub source"

"“Yeah, oh yeah.” — Executive at a West Coast OPO, longtime industry veteran"

"“t-meha levels [are] an index of histaminergic activity,” — Schwartz (1991)"

"We have served as the Company's auditor since 1968. — Deloitte & Touche LLP"

"Do you have king size bed with a city view? — Grizzly Research Investigator"

"Recent Google Trends data shows that Wise is pulling far ahead of Remitly."

"The bottom line on Macau is that management left our concerns unaddressed."

"Notice CAGR expectations have disappeared from its "High Growth Verticals""

"Pfizer must continue to innovate with Prevnar to fend off looming threats."

"The Company is expected to generate worst-in-class returns on R&D and M&A."

"New compensation structure aligns with the firm’s and investors’ interests"

"One employee listed as a driver, says “I think management get kick backs”."

"CEO Cole willing to start selling stock at $0.10 cents and $1.20 per share"

"Box stock price has significantly underperformed over almost any timeframe"

"Box attempted to use the Preferred Financing to "buy" sponsorship from KKR"

"We do not believe it is a question of content, but a question of delivery."

"Structurally, New TROX will be the most unique player in the Ti02 industry"

"ADP’s Reported Employer Services Margins in its SEC Filings are Overstated"

"Implies a ~$1.3 billion gross profit uplift opportunity on current revenue"

"ADP has ~10 million square feet of real estate and 143 US office locations"

"Despite this, at year-end UNP missed 5 out of its 7 service metric targets"

"Eurofins' Response about Cash & Equivalents Reclassification is Misleading"

"2011 wasn’t the first time W.T.F. found itself embroiled in legal battles."

"Darden must recapture its authentic Italian roots...starting with the menu"

"Family Dollar has a strong track record of earning high returns on capital"

"We recommend the following initiatives to unlock Goodyear's full potential"

"Listings at Key Properties Indicate Vacancies over 2x Higher Than Reported"

"Muddy Waters is trying to make profit by generating panic among investors."

"After a CEO is Consistently Unable to Predict the Future, Why Believe Him?"

"In 2008, investors could have purchased Valeant's shares at ~0.5x 2014 EPS"

"Cost overruns, if unchecked, could result in $5.6 billion lower Bakken NAV"

"Darden must recapture its authentic Italian roots...starting with the menu"

"Economic ownership and voting power are now aligned at one-share, one-vote"

"Hess well costs 39% above Continental 1H'12 drilling the same type of well"

"Underperformance of this magnitude and duration demands substantial change"

"Why was management not transparent about exocad's sales growth trajectory?"

"There is approximately $140 million of missing EBITDA in the “same target”"

"Arconic has actually expanded its shipset content at a lower rate than PCC"

"Why is Arconic flat when distributors and TriMas are up mid-single-digits?"

"Not only is Ms. Russo conflicted, her own track record as a CEO is abysmal"

"Imagine the same portfolio of malls financed with unsecured, recourse debt"

"Al does not seem to garner much physician trust or perception of accuracy."

"The Board and CEO Matt Proud Have Failed in Their Primary Responsibilities"

"TM Group was sold for less than half its purchase price at ~£41.2 million."

"Some of the “independent” directors appear to us independent in name only."

"BlackRock Board suffers from at least three different kind of shortcomings"

"We believe Tom Pike will create considerable shareholder value at Fortrea."

"Compelling medium-term opportunity to reach ~8% TICO EBIT margin by FY3/29"

"As a result, we believe Zebra is supplanting R&D in favor of acquisitions."

"At least six of the fourteen investments show expanding employment growth."

"European Incumbents EV/EBITDA median is 6.0x, a premium of 20% to TIM Stub"

"BP's management just implicitly downgraded 2025E Ebitda towards consensus."

"BNY Mellon's current model emphasizes labor over technology and automation"

"Many products with low revenue yields have very high contribution margins."

"We Believe Shareholders Should Embrace This Advice And Seek New Leadership"

"Unifying the DLC Structure to Release Value and Enhance Capital Allocation"

"Strong growth despite management not providing guidance on U.S. land sales"

"This contradiction affirms our conclusion that YDT is a sham counterparty."

"This black hat stunt would be far less likely to happen at a real company."

"New compensation structure aligns with the firm’s and investors’ interests"