Callouts & quotes from 37,061+ activist slides

"Revised TOB values core business at ~85% discount to intrinsic value"

"You’ve got a lot of material cost there, and you get a lot of waste."

"Higher expense growth in "flat scenario" than "normalized scenario"?"

"4-acre anchor parcel sold to Costco in January 2012 at ~$1.5m / acre"

"Trian recommends ~$20 billion in incremental net leverage by 2018(1)"

"At least 72% of NQ's purported China security revenue is fictitious."

"Quality assets but with limited synergies with the mineral portfolio"

"McOpCo IPO would shift some power to the franchise base—A good thing"

"We Expect Hardware to Remain a Material Burden on Samsara Financials"

"We believe GCP's current investment priorities require re-balancing."

"GGP’s Las Vegas assets have option value as future development sites"

"Separation removes overhangs and creates three sustainable companies"

"Volumes should be urgently repurposed towards higher-value use cases"

"Our goal with this presentation is to shine a spotlight on Herbalife"

"We believe our plan could boost Phillips 66's shares by 75% or more."

"Platform of “asset-light, high-touch” specialty chemicals businesses"

"We believe greater emphasis could signal client retention challenges"

"A major source of past revenue is unlikely to return to past levels."

"The first description you read is a little grandiose for what it is."

"Based on the above results, we believe this response was misleading."

"In Q315, Facebook’s mobile revenue grew to 12.5x Bigger than Yahoo’s"

"In Q315, Facebook's mobile revenue grew to 12.5x Bigger than Yahoo's"

"Other Leading Asset Managers are for a “case by case” approach (1/2)"

"The tree is both commercially and biologically difficult to grow as:"

"78% of all S&P 500 boards have an average tenure of 10 years or less"

"Such basic math and accounting problems can be indications of fraud."

"Splunk needs to rebuild investor confidence through better execution"

"Data centers are rapidly evolving to better serve modern data needs."

"Spot checking reveals that the overstatement is likely much greater."

"$5bn in custom networks is only slightly over $1 per share of value."

"Diamond EBITDA growth is forecasted to be 1,200 bps lower than HGV's"

"Near-term project pipeline is thin and only 2 years of demand growth"

"PSH will remain a publicly-traded closed-end fund over the long term"

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

"The 2019 Airbus submission to CDP should be made publicly available."

"Management committed to its pipeline of “blockbuster” drugs in 2019."

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

"Midpoint of valuation analysis is ~$22 per share today, up about 70%"

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

"Centers automatically reject any surgeons who worked for TransMedics"

"it’s an order of magnitude of pain and more to work for TransMedics."

"One of the largest transplant programs basically uses no TransMedics"

"We have serious concerns with AOL's executive compensation practices"

"CMG's share price increased 49% in 2018 and 37% year-to-date in 2019"

"Our board would run a process to maximize value for ALL SHAREHOLDERS"

"It's a two-hit. It's two hits. That increases your risk. Absolutely."

"I don't know anybody who's gotten approval from their insurance yet."

"It's a two-hit. It's two hits. That increases your risk. Absolutely."

">Other pharma companies tested pitolisant and their color is damning"

"Pharmacy and doctor both told patient that an antihistamine "was ok""

"Within less one year, the price of the property had gone up by 100%."

"The performance of IIPR’s publicly listed tenants is truly terrible."

"We believe the stock will collapse and see immediate downside of 60%"

"We believe the stock will collapse and see immediate downside of 60%"

"To call this clinical outcome impressive, to our mind, is laughable."

"ONP's Claims About its Top 10 Customers Support Our Fraud Conclusion"

""If you fail to plan, you are planning to fail." — Benjamin Franklin"

"1/13/14: Suntory agrees to acquire BEAM for $83.50 per share in cash"

"“a clear path to predictable, strong cash flows” — Paringa Resources"

"“I couldn’t be happier” — Michele Ganeless, Comedy Central President"