Callouts & quotes from 26,677+ activist slides

"IF P&C is #1 in its markets in COR outperformance and stability"

"PSH's share price is currently trading at a 10% discount to NAV"

"Pfizer had a healthy pipeline of assets in clinical development"

"Management needs to be held accountable for capital allocation."

"The Company would have to generate $79 billion in 2030 revenue."

"Store base growth has always been the lynchpin of the EDU myth."

"We have shown evidence that suggests these four major concerns:"

"The keys are 2022 NCI inflows of $1.415 Billion at $1.98 / watt"

"How does a historical $16 - $20m cost turn into an $8m benefit?"

"The reconstituted Board helped Marvell reach its full potential"

"The warm-up is over; give the resistance a half turn. Let’s go!"

"ADP's SMB should approximate Paychex's ~41% operational margins"

"Insiders Keep Selling, So Should You: 50% Downside Risk Remains"

"Of Keisei's six peers, five have split the Chair and CEO roles."

"For many years, the two companies had very similar performance:"

"Goodyear has been “orphaned” with minimal sell-side coverage..."

"Company only showed one meager data slide for its 4-layer cell."

"~97% increase to Marathon stock price assuming no tax discount."

"Target is the largest investment in Pershing Square's portfolio"

"I'd say he has higher education than Steve Jobs and Bill Gates."

"They just simply haven’t published it because it doesn’t exist."

"I would say the founders and Peter Chapman knowing what I know."

"We use a chip trap developed by Sandia National Laboratories..."

"These problems must be acknowledged if they will ever be fixed."

"Viacom's Recent Financial Results lag their peers significantly"

"Does JOE know they have to compete against better located land?"

"The Bayer acquisition has weakened Elanco’s financial position."

"SOPIPA does not provide K-12 operators with a consent mechanism"

"In effect, Pioneer is just an option on much higher oil prices."

"Competition is limited and K-cup patent cliff is not meaningful"

"The Yahoo Board has failed in its duties and must be overhauled"

"We believe TheFork would attract significant strategic interest"

"What are the possible explanations for this 80% price increase?"

"We disagree and see 40% to 70% downside risk in iRhythm shares."

"But an even cursory review of the study reveals its shoddiness:"

"$100 million in value / $111 million in Operating EBITDA = 0.9x"

"Shrinking operating profits and margin well below WSP's margins"

"+27% upside to intrinsic value at Original TOB pre-announcement"

"McOpCo managers do not have appropriate compensation incentives"

"Mall REIT leverage ratios have decreased meaningfully since May"

"Unfortunately P&G's M&A track-record has historically been poor"

"14 Years of margin improvements totaling approximately 1,200bps"

"We believe an EBIT margin target of at least 40% is reasonable."

"There is a direct correlation between weak HKD and HK inflation"

"Hong Kong’s rich-poor gap is Asia’s widest according to UN data"

"Performance targets are lowered in the face of underperformance"

"Saputo recently removed a butter SKU from its product portfolio"

"The reconstituted Board helped Darden reach its full potential."

"More than 75% of GGP’s leases do not expire until 2012 or later"

"Consistently negative reaction to earnings since Andeavor close"

"Extensive due diligence led to our recommendations for Marathon"

"Management's omission of key information deceives shareholders."

"Without subsidies, XL's value proposition worsens even further."

"What would Cathie pay? How about 10x 2023 sales or €30 billion?"

"We See 25% - 50% Potential Downside Risk In Aegon's Stock Price"

"Yet, Herbalife has Donated Only $1.5mm to the UCLA Research Lab"

"The Top 1% of Herbalife Distributors Receive 88% of the Rewards"

"Distributors must re-sell here to capture the 25% Retail Profit"

"Herbalife’s More Recent Format – Similar Stories, Fewer Numbers"

"Spin-Offs Have Outperformed the S&P 500 Over Long Time Horizons"