Callouts & quotes from 37,061+ activist slides

"But in the midst of crisis, the government had no other choice"

"Mass-Market Personal Care has a long way to catch-up, and grow"

"CP's revenue yield lags CN's given its inferior service levels"

"And guided to increase further by an outsized 7-8% YoY in 2024"

"The Irvine Ranch is a private company and Bren will never sell"

"Integration offers little to no benefit and the costs are high"

"Phillips 66 has higher opex/bbl than VLO & MPC in every region"

"Investors seizing on bargain valuations for Class A Mall REITs"

"WITHOUT SUBSIDIES, XL'S VALUE PROPOSITION WORSENS EVEN FURTHER"

"Second step: Teach others to teach others what you've learned."

"“more money than he could have imagined” – “anybody can do it”"

"Friday, November 3, 2023 is the day Syfovre "Jumped the Shark""

"Recent large scale deals have been completed at ~11-17x EBITDA"

"Phillips 66 has higher opex/bbl than VLO & MPC in every region"

"Operating margins of at least 25% by 2014 (versus 16% in 2011)"

"Achievement of 2012 - 2014 targets can drive strong EPS growth"

"レーザーテック製の装置は信頼性が極端に低いので、「生産活動に連動した使用に適さない」「性能は全般的に不十分」と思われている。"

"第9部 来たるべきKLAの極端紫外線のアクティニックパターンマスク検査装置の発売は、レーザーテックにとって存亡の危機となる。"

"KLA製の非アクティニック深紫外線（DUV）の代替検査法は非常に効果的で、よくできている。システムの出来が波長よりも大事だ。"

"しかし、Fab 4Aの窓は埃だらけで汚い。内部に見える空調あるいは機械的な設備は錆と諸々のデブリが付着しているように見える。"

"This excessive SG&A spend is unacceptable and must be improved"

"2) We Believe Viator’s Performance Should Meaningfully Improve"

"It did not meet our expectations in the way it was sold to us."

"Spine moved to a segment where it has a smaller overall impact"

"BMC has paid significantly high multiples for its acquisitions"

"Board and management own more than 6 million shares of CXW (1)"

"Not one property is offered for sale at or above O's valuation"

"2. High-Quality Businesses Obscured by Money-Losing Businesses"

"We view Target's management as the best in the Retail Industry"

"We believe a similar outcome is more likely than not at Ginkgo"

"Nutrition Clubs lose money and are simply a recruiting vehicle"

"And guided to increase further by an outsized 7-8% YoY in 2024"

"Wall Street analysts believed the Company was well-positioned."

"Spruce Point believes this could be the death knell for CLEAR."

"Clearly, this Board's track record is very difficult to defend"

"ROVI’s claims regarding its search process are blatantly false"

"Apple has a number of ways it can return cash to shareholders."

"If this seems confusing or dishonest (or both), it gets worse."

"NQ was extremely sloppy in concealing that YDT is actually NQ."

"The single biggest risk factor for Zillow is employee malaise."

"It looks like it is the competition that is taking the Ambien."

"ACTIS A300は実際には、レーザーテックから1台も出荷されたと聞いていません。実態のある製品であるかすらわかりません。"

"the transplant administrators...they’re addicted to the volume"

"Substantial percentage of device usage is local and intra-city"

"No, all the communication goes through the TransMedics people."

"Expanded EBITDA margins: From 8% in 2011 to 19% in LTM 9/30/14"

"New FirstGroup will have enterprise value of ~£1.2bn - ~£1.5bn"

"Over the course of 2020, PSH repurchased $286 million in stock"

"35% – 60% Downside Risk, With Unquantifiable Tail-Risk To Zero"

"I don't believe it is that powerful or effective to begin with"

"Bad debts double, yet LSPD experienced organic revenue growth?"

"Post spin-off, Target maintains its “A” category credit rating"

"A <20% IPO of TIP REIT would have several important advantages"

"Management was allegedly worried and decided to halt the trial"

"Wakix competes in a crowded field and other drugs work better."

"Chen Dinglong is obviously a member of the ANTA proxy network."

"Is this really a company and CEO with whom you want to invest?"

"Increased M&A cost synergy target by ~40%, from $60mm to $85mm"

"PSH's share price is currently trading at a 5% discount to NAV"

"Nutrition Clubs lose money and are simply a recruiting vehicle"