Callouts & quotes from 26,677+ activist slides

"花王には力強い成長可能性を持つ優れたブランドがあるものの、花王の経営陣はこれらに関心を示さず、FMCG事業の成長実現には注力しないことを繰り返し宣言しています。"

"過去のバリュエーション推移を鑑みると、スキンケア・化粧品企業は純粋なFMCG企業と比較してEV/EBITDA倍率が約2.5ポイント高い水準で取引されてきました。"

"キュレルは、製品を購入した欧州の消費者（ほとんど日本より直売）によって高い評判を得ているものの、英国を除く欧州の大半では未だに店頭にて購入することができません。"

"And fundamentally that is an issue at any company with the goals that CLEAR has."

"Offer of $2.92 per share represented an increase of 25% over a four month period"

"NEOs Have Been Paid $1 Billion Despite Total Shareholder Return Underperformance"

"Fannie and Freddie’s role has increased significantly since the financial crisis"

"We Believe Limbach’s Earnings May Be Inflated By Aggressive Accounting Practices"

"Spruce Point also has a few concerns with Nova's CEO and Non-Executive Chairman."

"Spruce Point also has a few concerns with Nova's CEO and Non-Executive Chairman."

"Blogger "NYSE Kid" With 1 Article and 2 Followers Makes a Bold Investment Call!!"

"Drug doesn't work without restricting access to food, thus defeating its purpose"

"Most private practice endocrinologists may have zero to two PWS patients at most"

"I haven’t gotten approved…we have filled out the form…oh yeah, it’s taking time."

"We believe PepsiCo may have mortgaged its long-term future in key growth markets"

"~25% IRR over first 2.5 years through value creation at BeveragesCo and SnacksCo"

"SOFI's response was a press release that did not address a single factual claim."

"In the absence of alternative etiologies, an association with Wakix is possible."

"I know it doesn't fully work. It's just part of the cocktail, and it's harmless."

"The speed of the meltdown may be one for the ages as its largest users stampede."

"Valeant management has increased the value of B&L from $8.7bn to more than $21bn"

"We believed APD’s EBIT margins (15.5%) could approach comparable Praxair (22.5%)"

"The FTC's findings are substantively identical to the FTC's conclusions in Vemma"

"This type of scam fits well with Triller’s CEO and Co-founder, Bobby Sarnevesht."

"We believe that 58.com (WUBA) is a House of Cards with Little Economic Substance"

"Bosch represents the biggest failure to date for Ceres, but is not the only one."

"This type of scam fits well with Triller’s CEO and Co-founder, Bobby Sarnevesht."

"96% of GreenPower’s vehicles delivered over the past 15 months were the EV Star."

"I'd like to hear your advice on the most comfortable hotel with outmost privacy."

"Would you exit just when the big pay day is about to arrive? Color us skeptical."

"Cumulative Streaming Losses Have Grown to $11bn and are Expected to Reach ~$15bn"

"TSMC appears to be covering up problems with Lasertec tool in order to save face"

"they’re holding off near-term shipments until they resolve these quality issues."

"Solvay is the largest producer of soda ash globally with about 11% global share."

"We hope Solvay creates a nice little wave of dividends and capital appreciation."

"However, these admissions fail to match NNOX’s own claimed development timeline."

"Investors should demand far greater explanation of this series of transactions."

"Agilent's net leverage of <1x is significantly below average peer levels of ~3x"

"Implied share price of ~$135 represents significant upside from current levels."

"We estimate that SafeCharge grew over 50% in 2020 with high exposure to gaming."

"We believe that HHC trades at a substantial discount to the value of its assets"

"Based on our research, we find many inconsistencies with Craig-Hallum’s report."

"Based on our research, we find many inconsistencies with Craig-Hallum’s report."

"It Appears HTA’s Board Shows Signs Of A Cabal of Rubber-Stamping CEO Loyalists."

"Permanent capital significantly reduces percent of AUM available for redemption"

"Dated commercial strategy has created a unit revenue headwind for over a decade"

"Insiders were selling stock at prices as low as $0.10 before the recent run up."

"As a common stockholder, we are completely aligned with Box’s long-term success"

"In our opinion, there is that there is nothing unique about Carvana’s services."

"We believe XPO's Adj. EBITDA is overstated as a result of aggressive add-backs."

"Despite claims of success, Phillips has not closed the profitability gap to VLO"

"By contrast, today ERIE's multiple is expanding as the Exchange losses increase"

"Pay close attention to the enormous increase in the warranty provision in 2018."

"Monetizing a non-core asset means getting cash, not playing financial wizardry."

"Fuji will have a myriad of opportunities to oppress us as minority shareholders"

"There are many items in the white paper that seem inaccurate or out of context."

"300% underperformance over 5 years, and that was before the Red Lobster debacle"

"Planning to spend ~$175 million on remodels – how much value will this destroy?"

"Improved labor efficiency will improve margins and enhance the guest experience"

"The Red Lobster Sale has stretched Darden's credit rating and dividend coverage"