Callouts & quotes from 363+ activist slides

"Why invest in a company with poor underlying fundamentals at these multiples? Take it from insiders: now seems to be the time to sell."

"Why invest in a company with poor underlying fundamentals at these multiples? Take it from insiders: now seems to be the time to sell."

"Refining and midstream have contrasting risk/return propositions, with weak capital returns vs. refiners and poor growth vs. midstream"

"Does this make sense? How can it be that the Company is doing poorly operationally but management as individuals are each doing great?"

"The reality is that Parkland's long-term total shareholder returns compared to its industry peers remain very poor (see below table)."

"Given suboptimal financial performance, poor disclosures and governance, Weis should trade at a discount to M&A valuation benchmarks."

"We believe the root cause of Disney’s underperformance is poor oversight from a Board that lacks focus, alignment and accountability"

"We believe the root cause of Disney’s underperformance is poor oversight from a Board that lacks focus, alignment and accountability"

"This is virtually unprecedented in the history of business and speaks to how poorly Mayer’s leadership must be perceived internally"

"In the absence of this information - given the already absurd n=3 - the steady plasma estimate of poor metabolizers is meaningless."

"Arconic’s poor performance originates in its broken company culture. From this broken culture flows many of the Company’s problems"

"We believe Carvana should not be valued as anything other than what it is: a poorly positioned, poorly capitalized auto retailer."

"Today, Crown Castle is spending significantly more capex to achieve disappointing revenue growth because its capex ROI is poor."

"It appears that Oatly’s U.S. production facility in Millville, NJ was poorly planned and didn’t factor in expansion challenges."

"Dr. Kleinfeld’s broken culture, incoherent strategy and low asset utilization results in profoundly poor operating performance"

"Up to four-fold change in plasma levels at 90% confidence interval in poor CYP2D6 metabolizers despite only testing 3 patients"

"In our view, the Fox acquisition highlights the Board's poor oversight on capital allocation and concerning alignment issues"

"In our view, the Fox acquisition highlights the Board's poor oversight on capital allocation and concerning alignment issues"

"Investors continue to ascribe an irrational valuation to Mercury despite its below average growth and poor cash conversion."

"We believe that O’s tenant quality is poor and the company is concerned about the impact of transparency on its stock price"

"In our opinion, this is just another poorly planned deal by GFL that resulted in unexpected higher costs to shareholders."

"Industry Disruption Does Not Absolve Disney’s Board for Poor Performance – It Is the Board’s Job to Look Over the Horizon"

"Bedding looks to be poor quality. Many farms try to use dirt instead of good sand. Cows will not be comfortable in dirt."

"We believe that inconsistent product placement and messaging bodes poorly for long-term branding and consumer loyalty."

"Real estate income is worth substantially more to a real estate business than to a poorly valued operating business..."

"Shareholders frustrated by the excessive compensation and poor performance can VOTE AGAINST the compensation committee"

"Shareholders frustrated by the excessive compensation and poor performance can VOTE AGAINST the compensation committee"

"Shareholders frustrated by the excessive compensation and poor performance can VOTE AGAINST the compensation committee"

"Shareholders frustrated by the excessive compensation and poor performance can VOTE AGAINST the compensation committee"

"Shareholders frustrated by the excessive compensation and poor performance can VOTE AGAINST the compensation committee"

"Shareholders frustrated by the excessive compensation and poor performance can VOTE AGAINST the compensation committee"

"Shareholders frustrated by the excessive compensation and poor performance can VOTE AGAINST the compensation committee"

"Shareholders frustrated by the excessive compensation and poor performance can VOTE AGAINST the compensation committee"

"On gross profit, a key measure of supermarket performance, Weis consistently ranks poorly among regional supermarkets."

"Box has conflated segmentation with stratification, which has resulted in poor cost-to-serve and resource deployment."

"CPI Very Questionably Doubled the Valuation of a Poorly Maintained Office Complex in Under Four Years to €199 Million"

"Pure is relatively poorly positioned to capitalize on the two largest technology themes of the day: the cloud and AI."

"How can management of the world’s largest Italian restaurant chain think it is okay to serve poorly prepared pasta?"

"How can management of the world’s largest Italian restaurant chain think it is okay to serve poorly prepared pasta?"

"In our view, poorly understood and highly leveraged companies are a potentially lethal combination for investors."

"GCP's lack of growth is not the result of a lack of investment. It is the result of a poor investment strategy."

"Olam’s Aggressive Accounting Masks Its Poor Performance and Incentivizes It to Spend Increasingly Precious Cash"

"Olive Garden does a poor job of converting searches into visits, and converting visits into repeat customers"

"Olive Garden does a poor job of converting searches into visits, and converting visits into repeat customers"

"Flattish art market suggests Sotheby's has done a poor job making art more accessible and appealing to HNWIs"

"The current directors have shown an inability to hold management accountable and have accepted poor results."

"Shunshun seems a poor choice of a vessel in which to expand an existing, only tangentially related business."

"GCP’s share price performance has compared poorly to peers and broader indices over almost any time period."

"We Believe Lightspeed Is A Poor Man’s Shopify And Will See Increased Pressure From Square, Adobe And Amazon"

"The intensity of Phillips 66's attacks on Mr. Goff reflects extremely poorly on the Company and its Board."

"We believe Vertiv’s poor Q4 results are not structural and can be fixed with proper operational execution."

"The intensity of Phillips 66's attacks on Mr. Goff reflects extremely poorly on the Company and its Board."

"eWellness Healthcare has a history of poor financial management and a CFO with a questionable background."

"It took extensive negotiation to overcome Box’s resistance to change even a few poor governance practices"

"The subsequent demotion of the Adubiaso and the Nkran extensions imply their expected economics are poor."

"“Real estate timing issues” do a poor job of explaining a drop in H1 new store openings of over a third."

"Current BBB reviews of Nuvei generally reflect a poor rating and frustrations echoed on other websites."

"Far beyond simple complaints about workload, there are many references to a fundamentally poor culture."

"Only Procept’s poor recent stock performance has created meaningful upside to sell-side price targets."

"Annual performance demonstrates that Dr. Kleinfeld's poor TSR was not isolated to the financial crisis"