Callouts & quotes from 26,677+ activist slides

"Herbalife bundles its products with a business opportunity"

"Niteworks Sells for a 48% Discount to Adjusted SRP on eBay"

"Formula 1 Sells for a 34% Discount to Adjusted SRP on eBay"

"Herbalife bundles its products with a business opportunity"

"CP's share price increased 40% including dividends in 2014"

"Organic Revenue Growth Has Been Below Target and Weakening"

"Gallons Offset As % of Gallons Paying Clean Advantage 0.7%"

"Interest expense absorbs only 5.8% of Peer EBIT on average"

"Nkran does not contain the gold AKG and investors expected"

"In reality, Mr. Khan is merely a $100 million sock puppet."

"棚卸資産高の構成比は、仕掛品と原材料および貯蔵品で100%、完成品は0%だと主張するレーザーテック。矛盾が明らかだ。"

"驚くことにレーザーテックは、全世界の半導体製造装置分野、そのうち上場している企業の中で、最も棚卸資産が膨大な会社だ。"

"レーザーテックの装置が使われているのはペリクル検査ができる唯一のものだからだが、じつはできない。「嘘をついたのです」"

"KLAはレーザーテックのアクティニック装置の競合品を実用化するために十二分の能力がある。「それはまちがいないです。」"

"「ひとつの芸当しかできない子馬同然」のレーザーテックは、新規競合の台頭によって、「現状を維持できなくなるでしょう」。"

"2005-2013: Capex increased ~225% and ROC decreased by ~45%"

"2005-2013: Capex increased ~225% and ROC decreased by ~45%"

"2005-2013: Capex increased ~225% and ROC decreased by ~45%"

"And Reconciling Everything Back into the Accounting System"

"We think investors need to weigh three possible scenarios:"

"The Board’s apparent answer was to go bigger, not smaller."

"But it all boils down to “execution, execution, execution”"

"Permanent Capital Now Represents >1/3 of our Investor Base"

"CP's share price increased 40% including dividends in 2014"

"However, the FY2011 number is too large for us to explain."

"Leasing Equipment capex is a significant cost (see below)."

"Hype aside, let’s look at where Core actually makes money."

"We believe all of these issues are temporary / correctable"

"BEKE Inflated its New Home Sales GTV by 125% in 2Q-3Q 2021"

"Are the budgets wrong or are the compensation plans wrong?"

"Equate directly calls out and compares itself to Dramamine"

"Pershing Square has no experience in the Technology sector"

"At best, “Discount Customers” comprise 25% of total volume"

"AerCap is now the largest independent lessor in the world."

"We believe there is substantial upside potential at Pfizer"

"We strongly believe that good governance is good business."

"オアシスの調査および元従業員への取材によると、花王はデジタル・マーケティングの専門家を採用していないと推察されます。"

"経営状態の良いあるいは成長著しい独立系企業で、強力なブランドを擁する企業は揃って大幅な買収プレミアムがつけられている"

"We See 30% – 50% Potential Intermediate Term Downside Risk"

"Vote the GOLD card at the upcoming annual general meeting."

"Specialisms address FUNDAMENTAL GAPS IN OPERATING STRATEGY"

"Kao significantly overpaid for Margin Dilutive Bondi Sands"

"Better Alignment of Metrics included in Stock Compensation"

"Specialisms address FUNDAMENTAL GAPS IN OPERATING STRATEGY"

"「まともに機能する極端紫外線光源がないため、20億ドルに上ると言われる受注残高を解消できないだろうとの意見を述べる。"

"来たるべきKLAの極端紫外線のアクティニックパターンマスク検査装置の発売は、レーザーテックにとって存亡の危機となる。"

"It sounds to me like a bribery, pay-to-play kind of thing."

"Organic Revenue Growth Has Been Below Target and Weakening"

"Sandell estimates of maintenance capex: ~1.0x depreciation"

"Operating margins would have been near 0 w/out the benefit"

"Diuretics failed to stop diazoxide-induced fluid retention"

"PepsiCo EPS growth has materially trailed peers since 2006"

"We note dizziness is a typical symptom of QT prolongation."

"明確なブランド表示がなく全面白色のパッケージでは、小売店の棚や、SNSの広告投稿にて、商品が埋もれてしまっています。"

"Valeant’s Platform Value is a function of several factors:"

"At best, “Discount Customers” comprise 25% of total volume"

"Questionable tenant reflects bad investment due diligence."

"We believe investment is still attractive at current price"

"Talk is cheap, but that appears to be all INOD can afford."

"We believe the scale of the disruption is already evident."