Callouts & quotes from 26,677+ activist slides

"Formula 1: the only ~$2bn brand nobody's ever heard of"

"In 2006, South America was grouped with Southeast Asia"

"Passes Pershing Square’s high bar for business quality"

"Coincident With The CEO Leaving And Multiple Red Flags"

"光源が短命のため、顧客は本来なら不要である追加装置を、バックアップとしての購入を強いられる。投資効率が悪い。"

"「その話から受ける印象としては、先方のダウンタイムは当社のそれと同じほど多い。生産性は基本的に同じようです」"

"買い手にとって史上最大の投資を行いながらも取得した不動産の大半を1年も使わないとの条件を快諾するのは難解だ。"

"Our recommendation is straightforward: sell Welltower."

"We work with customers that are using Berkeley Lights."

"Passes Pershing Square’s high bar for business quality"

"Vertiv has an opportunity to more than double margins."

"Vesting program for restricted stock is highly unusual"

"This appears to be APP attempting to cover its tracks."

"Deep Value Opportunity with Clear Catalysts for Change"

"A great idea solves multiple problems at the same time"

"Substantially below Company's stated ROE target of 20%"

"The Company appears to have missed the mark on GLP-1s."

"We believe the deal is all hype and limited substance."

"The explant rate is higher for Nevro than anyone else."

"In acquiring Triarc, Wendy’s shareholders are getting:"

"We See 40% – 60% Downside Risk To Zillow’s Stock Price"

"THIS PORTFOLIO IS UNDERVALUED IN THE CURRENT STRUCTURE"

"第11部　レーザーテックが横浜市で開発工事中であるという「レーザーテック・イノベーション・パーク」は詐欺だ。"

"I think the gravy train is coming to an end, honestly."

"I don't see any advantage in using their pump anymore."

"Remove 450 From Service (14%, conservative assumption)"

"CoreWeave's business runs on leverage, not innovation."

"it's a two-hit...that increases your risk...absolutely"

"Our doctor interviews indicate no shortage of options."

"We believe this is a major red flag for PBH and Sacco."

"Passes Pershing Square’s high bar for business quality"

"We are discounting the rent by 36% due to overpayment."

"We are discounting the rent by 33% due to overpayment."

"...and NFLX EBIT margins are ~4,000bps higher than DIS"

"Lasertec valued at a higher premium to R&D than Nvidia"

"Half the revenue but more than twice the profitability"

"There's not much evidence that it's a working machine."

"We believe the following series of steps is required:"

"Box significantly missed its large deal growth target"

"Investors are effectively paid to wait for a recovery"

"We don't believe either is true, at least materially."

"During this period, revenue per employee plunged 70%."

"We Will Demonstrate That if ADP is Managed Optimally:"

"2021 Return: PSH Net of Fees vs. Indices Total Return"

"1. SH Fengxian transfers 97% interest to Ding Kunming"

"Peiyou offline enrollments appear to be declining YoY"

"Always be mindful of authenticity, quality, and value"

"GoDaddy has 3-5x more customers than its public peers"

"They always pick a bad cell to compare their cell to."

"What about the building changed? Apparently, nothing."

"your entire computation breaks down after a few steps"

"Is Dauman worth 6x more than Netflix's Reed Hastings?"

"Inflated from multi-year, upfront enterprise billings"

"We believe that BOOT has a bloated inventory problem."

"Always be mindful of authenticity, quality, and value"

"Remember, Wall Street insists this is a coal company."

"Brand Tripadvisor revenue has been declining modestly"

"Dr. Kleinfeld has been resisting this for a long time"

"We have never been “happy” with Dr. Kleinfeld. Never."

"We See 30% -50% Downside Risk To Skechers Share Price"