Callouts & quotes from 26,677+ activist slides

"Viacom Shareholders Can’t Stand Another Year Under Dauman’s Leadership"

"Valeant is a nimble acquirer of attractive businesses, large and small"

"GAAP Net Income has not been a good proxy for Valeant's free cash flow"

"Why didn't Vitek purchase the new superyacht without involving CPI PG?"

"Green Street’s base case valuation for the real estate is $2.4 billion"

"We estimate EBITDA and EPS are overstated by 17% and 79%, respectively"

"We believe Yahoo has a current intrinsic value of nearly $20 per share"

"Experiences Has The Lowest Online Penetration Of All Travel Categories"

"Tripadvisor has been a partner across multiple OpenAI product launches"

"Just by changing the prices, the reserves are worth only $9 per share."

"It is not clear to us the issues and alternatives are fully understood"

"it's not just warm words and nice plans, you've got to execute, right?"

"Lack of a coherent strategy means assets never achieve their potential"

"In reality, proceeds from divestitures were recycled into acquisitions"

"This supports our finding that ~90% of YY Live gift revenues are fake."

"Investors get the benefit of a turnaround opportunity without the risk"

"At $15 per share, PF GGP would be the second largest REIT in the index"

"In 2023, Dye & Durham generated negative FCF on $244 million of EBITDA"

"A June 2019 Wayback Machine capture shows the details of the facility:"

"The CRO market is expected to grow ~7% per year from 2022 through 2027"

"Southwest’s leadership has already lost the trust of its shareholders."

"These curiously consistent channel partner claims also merit scrutiny."

"There Are Multiple Reasons Why We Think Zebra Is Materially Overvalued"

"Both illustrate the horrific losses and tiny market caps in the space."

"We believe the global industry will grow to $3.6tn organically by 2017"

"STOCKHOLDERS HAVE SUFFERED FROM LONG-TERM STOCK PRICE UNDERPERFORMANCE"

"At a minimum, a genuine compliance program must include the following:"

"DGW is a Massive Fraud, Overstating Revenue by Over One Hundred Times."

"We believe P&G is uniquely positioned with 25 “billion dollar” brands."

"MDLZ’s share price including dividends was approximately flat in 2016*"

"While the speech did not name Celgene, the description was unambiguous"

"Mainland visits in 2011 is on pace for ~27mm, ~4x the population of HK"

"Instability in key roles, particularly operations, hampers performance"

"Best Executive + Familiarity = Massive Improvements to Worst Performer"

"The high level of liquidity for GSE MBS lowers mortgage interest rates"

"The GSEs’ FIA business generated profits prior to the financial crisis"

"Noticeable lack of core competency and skills as reviewed by the Board"

"Questions from the 2010/11 investor days highlight investors' concerns"

"The last time this occurred was during a financial restatement period."

"The last time this occurred was during a financial restatement period."

"Retail margins: Margin contraction despite significant growth in scale"

"Significant Underperformance Relative to NASDAQ Composite Index of 69%"

"Analysts see trapped value, but management has refused to take action."

"We question management’s personal use of the Company private aircraft."

"Undergraduate interns reportedly filled a number of engineering roles."

"This variant point of view alone suggests a lower stock price for Momo"

"You might notice several things about the Nutrition Clubs we observed:"

"STOCKHOLDERS HAVE SUFFERED FROM LONG-TERM STOCK PRICE UNDERPERFORMANCE"

"We term this nepotism-like dealing and there are many recent examples."

"All directors are independent of the Manager other than Nicholas Botta"

"PSX's entrenched Board attacks Goff before even considering his ideas."

"財務報告書における不自然な動きについて、会社側が説明を回避したということは、不正企業の経営陣が全ての進行を維持するのに必死になっている証だ。"

"“正常化した棚卸資産高”：極端紫外線進出以前の棚卸資産高／売上高、極端紫外線進出以前の棚卸資産高／総資産、商品の値引き率で割り出す3つの手法"

"TSMCはレーザーテックの高開口数の装置を買っていません。......業界ではACTIS A300が信頼できる製品になるとの期待度が低いです"

"低いアップタイムと不良のユーザー・インターフェースで苦労してきた「ニッチ・プレーヤー」。改善を重ねたKLA、その他の競合他社に遅れを取った。"

"レーザーテックは不動産投資案件を、事業拡大の証拠と位置づける説明をした。詐欺にともない設備投資を強調する、フェイクニュースでよく見る工夫だ。"

"We believe BILL has best-in-class gross margins, ahead of peer median."

"Experiences Has The Lowest Online Penetration Of All Travel Categories"

"Experiences Has The Lowest Online Penetration Of All Travel Categories"

"Tripadvisor has been a partner across multiple OpenAI product launches"