Callouts & quotes from 26,677+ activist slides

"We believe that the flip was designed to hide the true identities of the real ultimate beneficial owners."

"In an industry sector rife with serious concerns, why would Intuit work with one of the smallest players?"

"The subsequent demotion of the Adubiaso and the Nkran extensions imply their expected economics are poor."

"TSMCはレーザーテック製の「製品状況がよくない」と明かした。TSMCはレーザーテック製のアクティニック極端紫外線（EUV）の検査装置をマスク工場限定のニッチ装置だと見なし、生産に連動した使用に適さないという。"

"レーザーテックとその主要な顧客が歩調を合わせて「次世代機、A300シリーズ」と「新たに設計した光学系や高輝度光源Urashima」の発表は、基本的にフェイクニュースであり、事実を伏せようとしていることが伺えた。"

"We argue that Fairfax has used equity transactions with OMERS and CPPIB to obtain off-balance sheet debt."

"Tripadvisor was controlled by Expedia, Barry Diller, and Liberty over the course of the past two decades."

"Management Red Flags: Litigious. Has historically used state influence and litigation to pressure critics"

"IQ’s accounting methods are clearly intended to disguise the fact that its business is hemorrhaging cash."

"Because 67% of oxygen patients are ambulatory, this further discredits INGN's 65% peak penetration claim."

"Stryker's bad debt allowance has been steadily rising and now exceeds peers such as Zimmer and Medtronic."

"Spruce Point interviewed a former information technology professional who shed insights on Stryker's ERP."

"KLA's impending launch of an EUV actinic patterned mask inspection tool will be catastrophic for Lasertec"

"KLA's impending launch of an EUV actinic patterned mask inspection tool will be catastrophic for Lasertec"

"Salesforce’s stock price performance has meaningfully lagged the technology sector and the broader market"

"ESPN, FOX and Warner Bros. Discovery Forming Joint Venture to Launch Streaming Sports Service in the U.S."

"Phillips 66 (NYSE: PSX) has chased dilutive midstream M&A while letting its core refining business slide."

"On-line merchants are the low-cost providers, making competing on price a losing strategy for the company"

"JCP’s stores require ~25% more labor hours than Kohl’s. Management will use technology to narrow this gap"

"Superstores have increased share in tandem with Amazon by focusing on selection and quality of experience"

"Persistent and consistent underperformance should not be rewarded with multi-million dollar pay packages."

"Persistent and consistent underperformance should not be rewarded with multi-million dollar pay packages."

"Inflated valuation making Weis the most expensive supermarket in the United States for no obvious reason."

"TIP REIT is a much more stable, faster growing and higher quality business than any Triple Net Lease REIT"

"XL made no denial of these exaggerations. It instead focused on our occasional use of the word “backlog”."

"In 2016, there is evidence PBH struggled to increase market penetration, evident by relatively flat ACVs."

"Improve accountability of Phillips 66's management by adding credible directors with a mandate for change"

"In our estimation, interest and the highest marginal rate could easily push the effective rate above 50%."

"The price war is yet another nail in the coffin of Nevro’s illusory turnaround and acquisition prospects."

"P&Gはブランドの合理化と価格設定・生産性の改善に注力することにより、2018年以降の株価上昇率は111.8%と、同時間に65.9%の上昇となったS&P 500 生活必需品セクターのパフォーマンスを上回っている"

"the differentiator that CLEAR provided six or seven years ago is just going to get narrower and narrower."

"Who is BP's Board of Directors trying to fool? Its own shareholders, the UK Government or seemingly both?"

"It answers the question of “What do you have to believe will happen in order to justify the stock price?”"

"In the meantime, athena hasn't demonstrated a viable business model for continuing to build the backbone."

"The websites above corroborate the data in the advertiser kit, and show that the CTR report is valueless."

"Relying on Price Increases & Cutting Content is Not a Sustainable Strategy to Maintain Quality and Demand"

"Vitek Seemingly Creamed ~€30.9 Million in Cash Gains by Round-Tripping Two Empty Plots in the Prague Area"

"Vivion's controlling shareholders, in our view, have used bond sale proceeds to unduly enrich themselves."

"VOTE FOR THE GOLD CARD NOW. YOUR LAST DAY TO VOTE IS MAY 21ST. TRANSFORM PHILLIPS 66, UNLOCK 75%+ UPSIDE."

"Adding GSX IP Joiners brings the total percentage of High Confidence bot users to 34,534 users, or 63.9%."

"Surgeons report losing a significant percentage of organs, and allege a cover-up by dishonest management."

"Dwell at Norfolk Southern has grown faster and volume at Norfolk Southern has fallen further than at CSX."

"SEE ADDITIONAL DISCLAIMERS AND NOTES AT THE END OF THIS PRESENTATION FOR ADDITIONAL IMPORTANT INFORMATION"

"However, more aggressive targets are needed to reduce absolute GHG emissions and GHG emissions intensity."

"Our research proves that the internal estimate Inspire uses as the basis for its growth story is a farce."

"SEE ADDITIONAL DISCLAIMERS AND NOTES AT THE END OF THIS PRESENTATION FOR ADDITIONAL IMPORTANT INFORMATION"

"In short, $2bn in unpledged real estate most assuredly is not the same thing as $2bn in actual liquidity."

"Given these trends, we believe the automotive image sensor market could grow to a $4-7bn market over time"

"Creates enormous shareholder value, potentially increasing Target's stock price from $37 to $67 per share"

"DISTRIBUTORS RECRUITING OTHER DISTRIBUTORS - AND - EARNING COMMISSIONS ON NEW RECRUITS' PURCHASES VIOLATE"

"ESS and cataplexy results contradict time to maximal effect in prior trials and are otherwise implausible"

"ESS and cataplexy results contradict time to maximal effect in prior trials and are otherwise implausible"

"In my opinion, that was kind of a strategy that the company might have had from the very, very beginning."

"SEE ADDITIONAL DISCLAIMERS AND NOTES AT THE END OF THIS PRESENTATION FOR ADDITIONAL IMPORTANT INFORMATION"

"Regulatory filings claims “Maximum” for 40 employees in the store which is reportedly 80,000 square feet."

"Amazing what $5 trillion of financial stimulus and $900M of share repurchases will do to the share price!"

"Today, PAH trades at $27.40 per share, a ~175% increase from its public offering price just two years ago"

"Despite our skepticism, we determined after extensive research that Valeant meets our investment criteria"

"Our evidence shows that ZJK has NO cooperation with Nvidia and is certainly not a Nvidia approved vendor."

"SEE ADDITIONAL DISCLAIMERS AND NOTES AT THE END OF THIS PRESENTATION FOR ADDITIONAL IMPORTANT INFORMATION"