FleetCor Technologies (FLT)

Citron Research · 2019-06
arc beats above · slides in the middle · loops below · scroll → 2 LOOPS
SETUP TENSION ANALYSIS EVIDENCE RESOLUTION APPENDIX
HOVER FOR DETAILS · CLICK A SLIDE FOR FULLSCREEN · STEP 1
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Deck intelligence map

4
coverage by narrative range · generated from this deck JSON

Slide inventory

15
every slide · same image gating as the playbook
01
Slide 1
The slide uses a 'fraud' stamp overlay on a corporate logo to establish an immediate adversarial stance.front_matter
02
The slide uses strong, accusatory language ('green fraud', 'Philidor moment') to frame the problem.frame_problem
Open slide detailLoop · Aha Moment
03
The slide uses a 'villain critique' structure to frame the company's marketing claims as fraudulent, referencing the Philidor scandal as a comparison.expose_contradiction
Open slide detailBeat · Villain CritiqueLoop · Aha Moment
04
Uses a flow diagram to illustrate the distribution of funds, highlighting the discrepancy between corporate claims and actual environmental impact.expose_contradiction
Open slide detailBeat · Villain CritiqueLoop · Aha Moment
05
The slide uses a direct quote from the target company followed by a factual audit to expose a discrepancy.expose_contradiction
Open slide detailBeat · Expose ContradictionLoop · Aha Moment
06
The slide uses a calculation-based argument to undermine the credibility of a corporate program.expose_contradiction
Open slide detailBeat · Expose ContradictionLoop · Aha Moment
07
The slide uses a 'fraud-exposure' narrative to discredit the company's carbon offset claims.expose_contradiction
Open slide detailBeat · Expose ContradictionLoop · Aha Moment
08
The slide uses a mock certificate to visually mock the target company's environmental claims.expose_contradiction
Open slide detailBeat · Expose ContradictionLoop · Aha Moment
09
The slide uses a rhetorical framing of 'willing accomplice' to characterize the relationship between the subject company and its partner.name_villain
Open slide detailLoop · Aha Moment
10
The slide uses a comparison table to frame FleetCor's pricing as potentially fraudulent or egregious compared to WEX.compare_peers
Open slide detailBeat · Comparison Table
11
The slide uses a contrast-principle to expose the perceived inadequacy of FleetCor's marketing claims compared to WEX's actual output.expose_contradiction
Open slide detailBeat · Comparison Table
12
Uses a Monopoly 'Go Directly to Jail' card as a visual metaphor for the company's legal risk.name_villain
Open slide detailLoop · Cost Of Inaction
13
The slide uses a comparison to the Valeant/Philidor scandal to frame the potential fallout for FLT.show_valuation_bridge
Open slide detailLoop · Cost Of Inaction
14
The slide uses a 'villain' narrative, comparing the CEO to Valeant's leadership to frame the investment as a 'falling knife'.summarize
Open slide detailBeat · Closing AskLoop · Cost Of Inaction
15
Standard legal boilerplate for financial research publications.other