Pershing Square | Activist Presentation Deck | 48 slides

Pershing Square Capital Management, L.P. · 2016-07
arc beats above · slides in the middle · loops below · scroll → 0 LOOPS
SETUP TENSION ANALYSIS EVIDENCE RESOLUTION APPENDIX
HOVER FOR DETAILS · CLICK A SLIDE FOR FULLSCREEN · STEP 2
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Deck intelligence map

5
coverage by narrative range · generated from this deck JSON

Slide inventory

48
every slide · same image gating as the playbook
01
Slide 1
front_matter
03
front_matter
04
This slide serves as a historical record of the activist campaign's public-facing milestones.summarize
05
The slide uses a 'check-mark' visual to imply that previous assertions have been proven correct.expose_contradiction
Open slide detailBeat · Expose Contradiction
06
frame_problem
Open slide detailBeat · Expose Contradiction
07
The slide uses a callout box to emphasize the 'pyramid scheme' conclusion.cite_precedent
Open slide detailBeat · Expose Contradiction
08
The slide uses a callout box to state the activist's thesis that the settlement will cause the business model to collapse.expose_contradiction
Open slide detailBeat · Expose Contradiction
09
The slide uses callouts to correlate specific news events with sharp movements in the stock price, highlighting the market's reaction to the FTC settlement.expose_contradiction
Open slide detailBeat · Expose Contradiction
10
Uses callouts to highlight specific quotes from the CEO that contradict the implications of the FTC settlement.expose_contradiction
Open slide detailBeat · Expose Contradiction
11
The slide uses a callout box to emphasize a specific quote from the provided text, framing it as part of a 'spin machine' narrative.expose_contradiction
Open slide detailBeat · Expose Contradiction
12
filler
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13
transition
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14
The slide uses legal complaint excerpts to frame the company's business model as deceptive.expose_contradiction
Open slide detailBeat · Expose Contradiction
15
The slide uses direct quotes from an FTC complaint to frame the business model as artificial.expose_contradiction
Open slide detailBeat · Expose Contradiction
16
The slide relies on legal complaint excerpts to frame the business opportunity as non-viable.expose_contradiction
Open slide detailBeat · Expose Contradiction
17
The slide uses direct quotes from a legal complaint (FTC v. Herbalife) to build its case.expose_contradiction
Open slide detailBeat · Expose Contradiction
18
The slide uses direct quotes from an FTC complaint to frame the company's business model as deceptive.expose_contradiction
Open slide detailBeat · Expose Contradiction
19
The slide uses a series of quotes from an FTC complaint to build a case against the company's business practices.expose_contradiction
Open slide detailBeat · Expose Contradiction
20
The slide relies on legal precedent/complaint language to frame the business model as deceptive.expose_contradiction
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21
cite_precedent
Open slide detailBeat · Cite Precedent
22
Uses legal citations to establish a precedent of regulatory action against similar business models.expose_contradiction
23
This slide uses a direct, confrontational rhetorical style to reframe a legal settlement.expose_contradiction
24
transition
25
summarize
26
The slide uses a before-after framework to explain the impact of a legal settlement on business operations.frame_situation
Open slide detailBeat · Before/After
27
expose_contradiction
Open slide detailBeat · Before/After
28
Uses a contrast-pairs approach to highlight the shift in corporate narrative.expose_contradiction
29
Uses a before-after style transition to highlight the regulatory change.expose_contradiction
30
Uses a before-after framing to contrast previous practices with new regulatory requirements.present_solution
31
Uses a before-and-after structure to contrast historical marketing tactics with current legal prohibitions.expose_contradiction
32
Uses screenshots of social media posts as primary evidence.expose_contradiction
33
Uses screenshots of Instagram/Facebook posts to demonstrate non-compliance.expose_contradiction
34
Uses screenshots of Instagram posts to demonstrate non-compliance.expose_contradiction
35
Slide 35 of the deck.preempt_rebuttal
Open slide detailBeat · Preempt Rebuttal
36
Includes a direct excerpt from a legal order.expose_contradiction
Open slide detailBeat · Preempt Rebuttal
37
transition
38
This is a single-statement slide used to frame the company's behavior as deceptive.expose_contradiction
39
The slide uses a screenshot of a Facebook post as evidence of the company's 'spin' strategy.expose_contradiction
40
The slide uses screenshots of a Facebook post with highlighted text to expose the company's internal narrative regarding the FTC settlement.expose_contradiction
41
Uses a contrast-pair structure to juxtapose corporate spin against legal reality.expose_contradiction
42
Uses a 'claim-response' structure to systematically dismantle specific bullish talking points.preempt_rebuttal
43
The slide uses a sensitivity analysis table to show EPS impact based on varying EBIT impact scenarios.quantify_opportunity
44
The slide highlights the discrepancy between management's 'Herbalife EPS' and the activist's 'Normalized' and 'Pro Forma' EPS calculations.analyze_data
45
transition
46
plan_implementation
47
Quotes from Michael Johnson (CEO) and John DeSimone (CFO) presented as evidence of materially false statements; footnotes cite earnings calls and investor day fexpose_contradiction
48
Includes a direct quote from an FTC official to bolster credibility.summarize