Callouts & quotes from 37,061+ activist slides

"“roughly in line... with our overall margin profile” — ADP management"

"“Great companies don't sit on legacy structures.” — Sigmund Cornelius"

"Elon Musk: 99.9% of the challenge in batteries is scaling production."

"As indicated in the film “People’s Republic of Desire.” — Footnote 42"

"PWC Viewpoint US IFRS vs. US GAAP; 15.8 Statement of cash flows — PWC"

""Buy American. I am," — Warren E. Buffett, New York Times (10/16/08)."

"「P1市場ではKLAが独走状態で、競合と言えるほどの競合もなく、実質的には独占している」 — KLAで極端紫外線マスク検査を担当した元幹部"

"「この世の中、マジックはありませんよ。究極的な解決はありません。直しようがありません」 — Isteqの研究開発部門における中心的な従業員"

"I think it's a little hard to say at this moment. — Amgen employee #2"

"Show me the incentive, and I'll show you the outcome — Charlie Munger"

"In other words, BLC's real cash is only £124,000 out of £1.2 million."

"the remaining key issue is the global strategy for cosmetics — Source"

"the biggest marketing campaign in real estate history. — CoStar Group"

"「救いようがない光源」 — Former KLA executive regarding Lasertec's light source."

"Glass Lewis has rated AOL's compensation program structure as "Poor.""

"Lasertec product lines – slide from corporate presentation — Lasertec"

"Unfortunately, Pfizer was also unsuccessful in developing Tanezumab."

"Mismanagement of retail channel has driven large market share losses"

"Note that Sunrun’s corporate level debt is presently yielding ~16.5%"

"Box's stock-based compensation expense has grown faster than revenue"

"Gross margin contracted during a period of increasing price per seat"

"Yahoo’s YoY decline in Core Business Adjusted EBITDA is unacceptable"

"We believe DY exhibits many hallmarks of increased financial stress."

"Absent back-end improvements, ADP will struggle to show improvements"

"ADP, with support from shareholders, has an opportunity to transform"

"Bolloré is perhaps the most complicated listed company in the world."

"The Board needs to replace Lance Fritz with best-in-class leadership"

"Visitors of Canadian Tire's site are 25x more likely to visit Amazon"

"$1.23B of “cost cuts” but only 30 bps or ~$30M of margin improvement"

"Again, Darden's solution to every problem seems to be to add an SVP."

"The basic offering of soup, salad, and breadsticks MUST be improved."

"LongHorn could be an ideal candidate for a major franchising program"

"Goodyear is the #1 North American tire manufacturer by a wide margin"

"We believe zero to almost none of CIFS's purported business is real."

"PHILLIPS’ STRATEGY OF BUYING ITS WAY TO A HIGHER MULTIPLE HAS FAILED"

"My focus is scalability and manufacturability and that's a huge gap."

"IonQ's claims of commercial traction are as phony as its technology."

"How genuine and sustainable is Hess's change in response to Elliott?"

"Viacom Isn't Going Through A Creative Lull; It's Creatively Bankrupt"

"It’s good to be a professional manager who works for Sumner Redstone"

"Why did the Board allow management to lower the bar so dramatically?"

"$81,111 = JOE's estimated average cost to develop a lot in RiverTown"

"We estimate that ~$16 billion of these swaps will terminate in 2024."

"Cost Multiple to HDDs: 4.9x (QLC SSD) and 5.9x (Pure 150TB QLC DFM)."

"We Estimate TCV Is ~$600 Million Overstated Based On Our Adjustments"

"Q: Why is the Stock in such a Swamp? A: Former Management was Putrid"

"Again, Darden’s solution to every problem seems to be to add an SVP."

"Focused primarily on the restaurant, the food, and general managers."

"The basic offering of soup, salad, and breadsticks MUST be improved."

"LongHorn could be an ideal candidate for a major franchising program"

"Viator has grown slower than GetYourGuide over the last few years..."

"It seems the Titanic is still heading full steam toward the iceberg."

"Underperformance from date of large franchisee deal (8/10/15): -35%!"

"RESEARCH ANALYSTS OVERWHELMINGLY AGREE THAT REFRANCHISING ADDS VALUE"

"A plant-focused, entrepreneurial culture is ready to rise at Arconic"

"PHILLIPS' STRATEGY OF BUYING ITS WAY TO A HIGHER MULTIPLE HAS FAILED"

"Many frequent complaints about the Dropbox system from Reddit users."

"この例は、豊田自動織機が保有する上場会社株式に起因する本源的価値の増加が価格交渉の過程において適切に反映されなかったことを示しています。"

"Ceasing a regular disclosure made since 2018 in latest Annual Report"

"We call upon BUR to disclose where Petersen is marked as of H1 2019."