Callouts & quotes from 26,677+ activist slides

"We Question Whether Intuit Can Claim Similar Levels of Customer Satisfaction"

"Our base case sum-of-the-parts valuation is € 782 million (€6.91 per share)."

"The residual value that is left is the Casino equity value: €6.91 per share."

"Earnings should be adjusted down up to 20%, suggesting 30%-50% downside risk"

"How can it confuse the difference between the sale of a product and service?"

"Why We Conservatively Estimate 25% – 40% Downside Risk To PERI’s Share Price"

"Excluding the ethylene spread PTOI was flat and margins only expanded ~58bps"

"The net effect was to downgrade Nkran's value by approximately $490 million."

"ちなみに、Iteqもレーザーテックと同じく、ライセンス契約が結ばれたのは2、3年前だったにもかかわらず、当該技術を「新しい取り組み」として偽装している。"

"2020年〜2022年の間に4台ですね。また、そのうち、ウシオ製の光源が搭載されていたのは……」「最初の3台だけ。4台目は違う光源が搭載されていました」"

"Almost half of New Red Lobster's cash flow may be due to its rent "subsidy"."

"Tripadvisor is increasingly levered to the fastest growing segment in travel"

"Small modular nuclear reactors are the next generation of nuclear technology"

"In 3.5 years, Alexandria shareholders lost approximately 80% of their value."

"That's a grand total of $10 billion spent for which Yahoo has little to show"

"24% BIL / Ltd outperformance vs. ASX200 from announcement of DLC unification"

"Sitting Board is insular and lacks a credible path to continuous improvement"

"The "Rights Plan": Giving the Board All of the Power & None of the Liability"

"Wix’s valuation discount is largely due to its poor operational performance."

"JCP sells a wide assortment of both exclusive and national brand merchandise"

"The model works: JCP’s Sephora shops generate $600+ of sales per square foot"

"And, how much is due to the our money printing fiscal and monetary policies."

"In fact, every valuation methodology we apply to ACMR yields massive upside."

"The $10bn+ Viterra Deal Has Struggled And Wildly Underperformed Expectations"

"It doesn't even appear to be a company, nor even a project – merely an idea."

"Minimal change in days inventory for select PBH customers over the past year"

"Term license revenue is not SaaS revenue, and should not be reported as such"

"Term license revenue is not SaaS revenue, and should not be reported as such"

"Herbalife would not have agreed to these terms if it couldn’t live with them"

"Note that the gap between GAAP and non-GAAP earnings is now $1.50 per share."

"We do not believe Pfizer achieved “constant” and “breakthrough” innovations."

"The Company used more than its COVID cash benefit on large M&A transactions."

"We do not believe Pfizer achieved “constant” and “breakthrough” innovations."

"Launch of PSUS should result in material reduction of PSH’s performance fees"

"Meta's business model is one of the clearest beneficiaries of AI integration"

"Such Significant Loss of Shareholder Value is Avoidable. Change is Possible."

"By late 2017 – a mere 2 years after launch - growth mysteriously hit a wall."

"Kao’s outside directors lack real and recent overseas operational experience"

"High turnover of participants is another characteristic of a pyramid scheme."

"CCME is Lying About the Number of Bus Operators with which it does Business."

"Despite Content Spend Doubling Since 2018, Consumer Products Revenue is Flat"

""RemainCo" Disney could have a much more attractive pro forma growth profile"

"ATTRACTIVE EARNINGS STREAM IN-LINE WITH HIGHLY VALUED PUBLIC MIDSTREAM PEERS"

"There is significant overlap among the various bot use patterns we observed."

"「新たに設計された」光源と謳っているUrashimaについては、「間違いなくレーザーテックにとって大きなリスクです。さまざまな意味で腑に落ちない話です」"

"TransMedics surgeons habitually need handholding and "don't have the skills""

"Tsunami of OrganOx and NRP will lead to collapse of TransMedics usage “soon”"

"Tsunami of OrganOx and NRP will lead to collapse of TransMedics usage "soon""

"DuPont routinely uses non-operating, one-time items to meet EPS expectations"

"Excluding the ethylene spread PTOI was flat and margins only expanded ~58bps"

"GSX's response to the GSX IP Joiners analysis strikes us as a bald face lie."

"Music industry has significant growth runway driven by streaming penetration"

"We sensed a safety debacle right around the corner, as did the investigator."

"Data is simply not compelling and side effect profile undermines its purpose"

"Neutral Tandem / Inteliquent's Troubles Surfaced Right After Mr. Barris Left"

">76% of liver transplants have shifted to day-time transplants using OCS NOP"

"Herbalife would not have agreed to these terms if it couldn’t live with them"

"By using the equity method WUBA inflated at the least its operating profits."

"Just as with performance, Joby holds the clear advantage on production cost."

"2. Tahitian Noni Beverage (China) Co., Ltd Shanghai Branch (void of license)"