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Feld", "documentKindSlug": "shareholder-letter", "documentKindLabel": "Shareholder letter", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2018-01-08 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 5, "slideType": "peer_benchmark", "function": "expose_gap", "notes": "The slide uses a waterfall-style calculation to derive implied margins and a bar chart to benchmark against peers.", "imagePath": null, "matchCount": 1, "evidence": "Comparison of company targets against industry peer group to highlight underperformance.", "slideHref": "/slides/019dd923-622b-71dc-a6d9-cc3cfd82bad8/5", "deckHref": "/decks/019dd923-622b-71dc-a6d9-cc3cfd82bad8", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6d9-cc3cfd82bad8#slide-5", "loopMatches": [ { "to": 5, "from": 2, "name": "Benchmark Gap", "slug": "39-benchmark-gap", "bestFor": "Performance improvement, competitive analysis, target setting", "matchId": "c3c12e15-48e7-44fe-9121-0107873e4c9c", "evidence": "The use of peer benchmarks and financial data to highlight the gap.", "position": 0, "objective": "To demonstrate the gap in stock performance and financial metrics between Mellanox and its peers, and to question why this gap exists.", "structure": "Our Performance -> Industry Average -> Best-in-Class -> The Gap = The Opportunity", "confidence": 0.8, "description": "Compare performance against best-in-class to quantify the opportunity" } ], "arcBeatMatches": [ { "to": 5, "from": 3, "beatId": "bdc5e838-5437-4f4f-a147-13777e2d9571", "arcName": "The Consultant's Gambit", "arcSlug": "consultants-gambit", "beatName": "Evidence & Proof", "beatSlug": "consultants-gambit-evidence-proof", "evidence": "The slides providing peer benchmarks and financial data serve as evidence.", "position": 2, "confidence": 0.8, "parentBeatName": "Evidence", "parentBeatSlug": "evidence" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622b-71dc-a6dc-52ab24c53815", "docSlug": "1dca9cf84925", "documentTitle": "Union Pacific Corporation (UNP)", "authorId": "15_Soroban", "authorName": "Eric Mandelblatt", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2023-02-22 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 30, "slideType": "peer_gap", "function": "expose_gap", "notes": "The chart highlights a -15% performance for UNP compared to a +2% for Canadian peers, with a clear visual gap of ~17% and ~10% respectively.", "imagePath": null, "matchCount": 1, "evidence": "Comparison of UNP performance against industry peers over time", "slideHref": "/slides/019dd923-622b-71dc-a6dc-52ab24c53815/30", "deckHref": "/decks/019dd923-622b-71dc-a6dc-52ab24c53815", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-52ab24c53815#slide-30", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true } ] }