Callouts & quotes from 10,384+ activist slides

"Well, it’s a company, right? That’s what their job is. We understand that they’re going to make it look better. — Physician, KOL, and Vykat trial investigator"

"An inverse agonist of the histamine H3 receptor improves wakefulness in narcolepsy: Studies in orexin-/- mice and patients — Lin, Dauvilliers, Schwartz et al."

"“the Company terminated a former executive and terminated the Company’s contract with an advisory firm.” — Danimer Merger Prospectus (11/30/2020, footnote 11)"

"Party B shall have ownership rights to the tangible assets, Party B shall also assume any and all obligations or debts resulting from any illegal activities."

"that Kingshott was aware of the implausible story Drier gave many investors. — US Bankruptcy Court: Drier LLP (debtor), Novator Credit Management (defendant)"

"Amazon's CFO recently commented that the company saved $1 billion on travel in 2020, and while he expects travel to return, it will be at a much lower level."

"The complaint is troubling, with the COO saying the CEO had “cooked the books” and telling them he was not “going to be part of this scam.” — Legal Complaint"

"Manulife states that Mosten’s reading of the contract would have a “significant negative impact on Manulife.” — Manulife Brief of Law, dated August 17, 2018."

"Mr. Shaw is right when he says Norfolk Southern’s "cost structure is too high." — Norfolk Southern's fourth quarter 2023 earnings conference call transcript."

"We certify that the information given in this Return (including 1 pages of Schedules) is true to the best of our knowledge and belief. — Annual Return (1998)"

"The 22x '23E EBITDA valuation ascribed to Evoqua and 25% share dilution was described as "crazy expensive" and "surprising" by a former high-level executive."

"The 22x '23E EBITDA valuation ascribed to Evoqua and 25% share dilution was described as "crazy expensive" and "surprising" by a former high-level executive."

"In the Convergent arm, 67.7% of patients were free from AF/AFL/AT at 12 months, while in the Endocardial Catheter Ablation arm, that proportion was only 50%."

"“I think [Phillips 66] employees are feeling a bit like second-class citizens, like the focus has been turned elsewhere in the recent years.” — Brian Coffman"

""We have looked at this every way you can and we just see the profitability a long way out." — Ford and Volkswagen (regarding their self-driving car venture)"

"We are rebuilding and increasing inventories in an effort to reduce the excessive cost of trucking long distances to satisfy demand. — Co-CEO Sacks, Feb 2022"

""Any damage to our reputation or brands may materially and adversely affect our business, financial condition and results of operations" — e.l.f. Beauty 10-K"

"Lazard recommends the separation of TWX into four independent companies: (1) AOL, (2) Content (Networks + Filmed Entertainment), (3) Publishing, and (4) TWC."

"MW: 93000个网点和110000个银幕。就是差不多一个点一块多一点。 / 93,000 locations and 110,000 screens. So it is pretty much a little more than one screen per location. — Muddy Waters"

"$DRI management shuts me out of another earnings call.. Running out of time is not an excuse. @jannarone article on #CNBC was $$$ — Howard Penney @HedgeyeHWP"

"a recent search of sell-side research covering Nidec yielded the words “synergy” and “synergies” in 153 Nidec reports over the past five years. — Alpha-Sense"

"If you only use Medicare data, you’re missing 18% of the market that is still in the cap period. — Bloomberg transcript from conference presentation 1/9/2019"

"Why were so many people willing to believe in something that so few actually understood? — Bethany McLean, "Why Enron Went Bust", Fortune, December 24, 2001."

"Olam CEO Sunny Verghese defiantly announced plans to spend an average of S$226 million to S$308 million on investments per quarter over the next three years."

"“And how do I prep all these samples? Hamilton Robots” — Ginkgo Bioworks (Twitter). “Great product for liquid handling.” — Daniel Wen (SelectScience Review)."

"Our primary rail competitor is CSX Corporation (CSX); both we and CSX operate throughout much of the same territory. — Norfolk Southern FY 2023 annual report"

"Ladies and gentleman, the holding of this role by a spouse of the chairman - please check for me; perhaps I'm wrong - is highly unsatisfactory. — Shareholder"

"“not a good investment”; “I don't think it's worth $2 million”; “not enough customer interest to justify more machines” — Samsung Biologics ex-lead scientist"

"“P66 has regularly run afoul of market expectations, has not generated competitive value during the span of Mr. Lashier’s executive service...” — Glass Lewis"

"“no question...it sounds sketchy” — Global Foundries; “pretty scary...pretty weird” — Research source; “tricks that any supplier can play” — Research source."

"its pro rata utilization of space at each facility plus a pro rata share of each facility's actual insurance costs and real estate taxes — CVNA FY 2017 10-K"

"“Towers kind of run themselves, so management’s value add comes from keeping costs down and intelligently allocating capital.” — MoffettNathanson, June 2019"

""Expedia to Spin Off TripAdvisor" — Scott Morrison, Wall Street Journal. "Barry Diller sells shares in TripAdvisor, steps down as chairman" — Business News."

"“We may have general difficulties in obtaining raw materials, particularly oats, due to our high quality standards.” — F-1 SEC Registration document, pp. 25"

"The Company acquired loan to Les Mas du Figuier from Radovan Vitek at the nominal value in the amount of KEUR 10,230. — CPI FIM SA 2019 financials, note 3.2"

"Free cash flow conversion. This is my favorite slide. 124% for Church & Dwight; peer average is 91%. A lot of companies target 100%. — CFO Q4 2018 Conf Call"

"「結像光学系を毎年交換しなければいけない、と聞いたことがあります。付着によって、揮発性化合物の量によって、光学系を毎年交換しなければいけません。その費用については、100万ドルかかりますね。第二と第四の鏡を交換しなければいとし、どちらも50万ドル以上かかります」 — KLAで極端紫外線マスク検査を担当した元幹部"

"「当初は光源の問題でかなり苦労しました。......問題は光源の寿命がたった3ヶ月で、交換後に補正するために1ヶ月を要します。光源の寿命3ヶ月のうち、実質的には60%～70%しか利用できませんでした。結果として、顧客は当初の予定より多くの装置を購入しなければならなくなりました」 — 半導体製造装置企業の上席幹部"

"「顧客との話しあいは実に深刻です。私はKLAにいたとき、2年前からこれについて顧客と話しあってきました。ほんとうに深刻でした。顧客は途方に暮れて、真剣に悩んでいました。3ナノメートルの移行が遅れたのはそれだけが原因だと言いませんが、事実として移行は遅れています」 — KLAで極端紫外線マスク検査を担当した元幹部"

"The Company has been deficient in linking executive pay to corporate performance...[and] Shareholders should be concerned with this disconnect — Glass Lewis"

"We believe that stock awards are a more appropriate incentive to our executive officers given the focus of our business on monthly dividends — O's 2008 10-K"

"collecting all manner of private user data, including users’ browsing history, search engine queries, and Wi-Fi access point names. — Cybersecurity research"

"Unlike Autodesk, ServiceNow disclosed both the actual magnitude of the mid-year adjustment & the original targets and capped payouts on the adjusted targets"

""Mr. Van Trump said the claim by the Danimer chief wasn't wholly accurate, saying Nodax products are unlikely to biodegrade in most modern landfills." — WSJ"

"“This manufacturing facility will allow us to deliver EV Stars built with the efficiency and quality that comes Made in America.” — GreenPower Motor Company"

"Preferred Stocks are treated like Debt in the Equity Value / Enterprise Value calculations. Enterprise Value = Equity Value + Debt + Preferred Stock - Cash."

"Подключаю своего коллегу Дмитрия для проработки запроса с юридической стороны. Вернемся с ответом в течение нескольких рабочих дней — Mercure Rostov on Don."

"Love it! I'd also like to have a transfer from the airport, daily private masseuse and add flowers and condoms in the room. — Guest email to Fairmont Mumbai"

"The report published yesterday by Muddy Waters Capital primarily consists of the manipulation of facts known and already published by Ströer... — Ströer SE"

""Our 10 director nominees bring a balance of skills, qualifications and backgrounds in overseeing our company, as highlighted below" — AVY Proxy March 2020"

"“EBITDA levels are at a low point and [the Company expects] to see improvements with revenue growth in 2015...” — Yahoo! Management, Q3 2014 earnings call."

"U.S. Navy Looks to Replace IBM Servers for Security After Lenovo Purchase — Department of Homeland Security identifies security concerns with IBM unit sale"

"Receivables mainly consist of cash advances or deposits with a duration of less than one year to related companies. The cash advances do not bear interest."

"Mr Galloway has said, from the start, that capacity means "maximum instantaneous output" and that you measure it by the Combined-Panels Method (§16 below)."

"Targeting Nonpulmonary Vein Sources in Persistent Atrial Fibrillation Identified by Noncontact Charge Density Mapping: UNCOVER AF Trial — Willems, S et al."

"“[Productivity idea generation is] a very robust system because it goes down to the plant. I mean, everybody is involved.” — Dr. Kleinfeld, October 8, 2014"

"We rate NOVA Overweight. At ~20 times CY21E EV/EBITDA, we think the multiple is attractive, set against an earnings growth rate of about 40%. — J.P. Morgan"

"The book value per share for Toyota Industries [...] could be underplaying the benefits of the deal, in terms of tax [...] — Travis Lundy, January 14, 2026"

""Digital technology is transforming the financial-services industry, and banks face the challenge of fully digitizing their businesses." — McKinsey&Company"

"“They aren’t happy with the fact that they do not see an improvement in living standards, despite the good economic statistics.” — Bloomberg July 1st, 2011"