Callouts & quotes from 26,677+ activist slides

"It’s good to be a professional manager who works for Sumner Redstone"

"Why did the Board allow management to lower the bar so dramatically?"

"$81,111 = JOE's estimated average cost to develop a lot in RiverTown"

"We estimate that ~$16 billion of these swaps will terminate in 2024."

"Cost Multiple to HDDs: 4.9x (QLC SSD) and 5.9x (Pure 150TB QLC DFM)."

"We Estimate TCV Is ~$600 Million Overstated Based On Our Adjustments"

"Q: Why is the Stock in such a Swamp? A: Former Management was Putrid"

"Again, Darden’s solution to every problem seems to be to add an SVP."

"Focused primarily on the restaurant, the food, and general managers."

"The basic offering of soup, salad, and breadsticks MUST be improved."

"LongHorn could be an ideal candidate for a major franchising program"

"Viator has grown slower than GetYourGuide over the last few years..."

"It seems the Titanic is still heading full steam toward the iceberg."

"Underperformance from date of large franchisee deal (8/10/15): -35%!"

"RESEARCH ANALYSTS OVERWHELMINGLY AGREE THAT REFRANCHISING ADDS VALUE"

"A plant-focused, entrepreneurial culture is ready to rise at Arconic"

"PHILLIPS' STRATEGY OF BUYING ITS WAY TO A HIGHER MULTIPLE HAS FAILED"

"Many frequent complaints about the Dropbox system from Reddit users."

"この例は、豊田自動織機が保有する上場会社株式に起因する本源的価値の増加が価格交渉の過程において適切に反映されなかったことを示しています。"

"Ceasing a regular disclosure made since 2018 in latest Annual Report"

"We call upon BUR to disclose where Petersen is marked as of H1 2019."

"Revised TOB values core business at ~85% discount to intrinsic value"

"You’ve got a lot of material cost there, and you get a lot of waste."

"Higher expense growth in "flat scenario" than "normalized scenario"?"

"4-acre anchor parcel sold to Costco in January 2012 at ~$1.5m / acre"

"Trian recommends ~$20 billion in incremental net leverage by 2018(1)"

"At least 72% of NQ's purported China security revenue is fictitious."

"Quality assets but with limited synergies with the mineral portfolio"

"McOpCo IPO would shift some power to the franchise base—A good thing"

"We Expect Hardware to Remain a Material Burden on Samsara Financials"

"We believe GCP's current investment priorities require re-balancing."

"GGP’s Las Vegas assets have option value as future development sites"

"Separation removes overhangs and creates three sustainable companies"

"Volumes should be urgently repurposed towards higher-value use cases"

"Our goal with this presentation is to shine a spotlight on Herbalife"

"We believe our plan could boost Phillips 66's shares by 75% or more."

"Platform of “asset-light, high-touch” specialty chemicals businesses"

"We believe greater emphasis could signal client retention challenges"

"A major source of past revenue is unlikely to return to past levels."

"The first description you read is a little grandiose for what it is."

"Based on the above results, we believe this response was misleading."

"In Q315, Facebook’s mobile revenue grew to 12.5x Bigger than Yahoo’s"

"In Q315, Facebook's mobile revenue grew to 12.5x Bigger than Yahoo's"

"Other Leading Asset Managers are for a “case by case” approach (1/2)"

"The tree is both commercially and biologically difficult to grow as:"

"78% of all S&P 500 boards have an average tenure of 10 years or less"

"Such basic math and accounting problems can be indications of fraud."

"Splunk needs to rebuild investor confidence through better execution"

"Data centers are rapidly evolving to better serve modern data needs."

"Spot checking reveals that the overstatement is likely much greater."

"$5bn in custom networks is only slightly over $1 per share of value."

"Diamond EBITDA growth is forecasted to be 1,200 bps lower than HGV's"

"Near-term project pipeline is thin and only 2 years of demand growth"

"PSH will remain a publicly-traded closed-end fund over the long term"

"Why did the Board allow management to lower the bar so dramatically?"

"The 2019 Airbus submission to CDP should be made publicly available."

"Management committed to its pipeline of “blockbuster” drugs in 2019."

"Unfortunately, Pfizer was also unsuccessful in developing Tanezumab."

"Midpoint of valuation analysis is ~$22 per share today, up about 70%"

"PHILLIPS’ STRATEGY OF BUYING ITS WAY TO A HIGHER MULTIPLE HAS FAILED"