Callouts & quotes from 26,677+ activist slides

"King Long CRT television (the bus manufacturer) – not CCME / Yusong LCD."

"We estimate Phillips could retire ~60% to ~90% of its shares outstanding"

"How does one swim through a rock in the same manner as through a liquid?"

"“Featuring a capacity of 32 qubits”; “Available now for select partners”"

"Franklin has successfully implemented The Outsiders principles at Jarden"

"ACAS has consistently paid excessive compensation for failed performance"

"Huntsman has proven it is are more than willing to mislead shareholders."

"Huntsman has bottom quartile performance, but top quartile executive pay"

"Estimated savings of $24 – $42 million or 1.3% – 2.2% of total cost pool"

"Only 12% of existing production in Appalachia is lower cost than CONSOL."

"Substantial Change Delivered Could Realize $128 / share for Shareholders"

"Note that Arconic purchased every single billboard in the above rail car"

"A peer analysis below shows AMR is an outlier at almost 3x the industry."

"We have created a strong path forward that reminds us of our early roots"

"We Believe Skechers Appears Poised To Suffer Yet Another Inventory Issue"

"The problem is this disclosure was misleading (or even an outright lie)."

"96% of Sunnova's revenue is tied to 3rd party ownership of solar systems"

"TCI actively assisting companies to achieve an A grade CDP score in 2020"

"“We’re in a very aggressive hiring spree in Wilsonville,” Leproust said."

""Incremental regulatory costs" vs. Buffer for poor Management execution?"

"Mall REIT provisions for doubtful accounts have not increased materially"

"Smaller CPG companies are growing ~3x faster than large ones in the U.S."

"Casino's response appears to be an attempt to further mislead investors."

"Prior to Starboard’s involvement in Darden, Bloomin’ traded above Darden"

"EBITDA margins have contracted 470 bps with cash SG&A margin up 320 bps."

"WD-40 was explicitly listed as not allowed as a carry on or checked bag."

"Juno Therapeutics management had multiple yellow flags in its background"

"Residential valuations are approaching Pre-Asian Financial Crisis levels"

"Actual credit losses were ~$140bn less than provisions from 2007 to 2011"

"Cognizant has lowered FY16E guidance all three quarters so far this year"

"Cognizant should immediately introduce a large share repurchase program."

"The Class A Mall is Not Dead – Photo Mall Tour Reveals Bustling Activity"

"The Company's valuation multiple versus peers has also FAILED to improve"

"The Company's valuation multiple versus peers has also FAILED to improve"

"Better monetizing its various properties is also part of AOL's strategy."

"Multiple levels of people above Maria receive commissions from Herbalife"

"We question the implication that volume has offset an 18% move in forex."

"~$1 Billion Acquisition of Real Capital Analytics Already Looks Impaired"

"We Believe TurboTax Is Treading Water As Existential Threats Materialize"

"We Believe Intuit Just Lost a Major Source of Future Potential Customers"

"Holding Companies: Figure 1 – no record of a share transfer to Ecomondus"

"We believe that substantially all of these gains are included in EBITDA."

"レーザーテックの受注残の急増は不可解だ。受注残と前受金は類似した動向を示すはずだが、むしろその隔離が大きく広がりつつある点が、とりわけ気になる。"

"TSMCはレーザーテック製のテクニック極端紫外線（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。"

"Darden maintains shareholder-unfriendly corporate governance provisions:"

"Viator is the largest marketplace for tours, activities, and attractions"

"Beware When Companies Start Spinning Increased Competition As A Positive"

"Management appears to be exaggerating the potential costs of unification"

"Extensive experience as a financial executive in the healthcare industry"

"The key changes revolve around the Company’s current voting arrangements"

"Nearly all (~97%) book inventory is returnable to the publishers at cost"

"We adjust reported 2021 and 2022 revenues downward by -95.3% and -68.5%."

"TIP REIT’s only commonality with other REITs is its Tax-Exempt structure"

"Transfer of property to TIP REIT may be subject to property transfer tax"

"Analyst price targets have not been reduced since the impact of COVID-19"

"2025 Return: PSH NAV Net of Fees & Total Return vs. Indices Total Return"

"8 hours per month isn't much time to manage sales for a "global leader"?"

"市場全体と同じペースで成長するだけでも、2027年の売上高とEBITDAは会社目標よりもそれぞれ300億円と70億円程度上振れることとなります。"

"Share price improves 18% following Marcato's 13D and 35% through 3/31/17"

"While Apple wants to keep its cake, the shareholders get to eat it, too."