{ "kind": "all", "value": "all", "collectionKey": "slides:all:all:all-document-kinds:all-producers:all-orientations", "filters": { "documentKinds": [], "sourceTypes": [], "orientations": [] }, "total": 319975, "page": 1959, "pageSize": 60, "pageCount": 5333, "rows": [ { "docId": "019dd923-622c-750b-8b96-6d03b12e1d18", "docSlug": "cfe5ee328183", "documentTitle": "Stroer SE & Co. KGaA (SAX)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-04-21 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 16, "slideType": "precedent_table", "function": "expose_contradiction", "notes": "The slide uses a forensic accounting lens to question the quality of earnings by isolating non-operating segments and exceptional items.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-6d03b12e1d18/16", "deckHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18#slide-16", "loopMatches": [], "arcBeatMatches": [ { "to": 40, "from": 3, "beatId": "b3f52913-eba1-4212-8b6a-c784e421d7c9", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Expose Contradiction", "beatSlug": null, "evidence": "Multiple sections expose contradictions in Ströer's financial reporting and governance.", "position": 0, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-6d03b12e1d18", "docSlug": "cfe5ee328183", "documentTitle": "Stroer SE & Co. KGaA (SAX)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-04-21 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 17, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The slide highlights a potential accounting error or manipulation regarding gross vs. net reporting of borrowings.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-6d03b12e1d18/17", "deckHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18#slide-17", "loopMatches": [], "arcBeatMatches": [ { "to": 40, "from": 3, "beatId": "b3f52913-eba1-4212-8b6a-c784e421d7c9", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Expose Contradiction", "beatSlug": null, "evidence": "Multiple sections expose contradictions in Ströer's financial reporting and governance.", "position": 0, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-6d03b12e1d18", "docSlug": "cfe5ee328183", "documentTitle": "Stroer SE & Co. KGaA (SAX)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-04-21 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 18, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "This is a research note page from a short-seller report (likely Muddy Waters or similar) focusing on accounting irregularities.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-6d03b12e1d18/18", "deckHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18#slide-18", "loopMatches": [], "arcBeatMatches": [ { "to": 40, "from": 3, "beatId": "b3f52913-eba1-4212-8b6a-c784e421d7c9", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Expose Contradiction", "beatSlug": null, "evidence": "Multiple sections expose contradictions in Ströer's financial reporting and governance.", "position": 0, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-6d03b12e1d18", "docSlug": "cfe5ee328183", "documentTitle": "Stroer SE & Co. KGaA (SAX)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-04-21 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 19, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The slide uses a narrative structure to build a case of potential insider self-dealing, drawing parallels to the Focus Media Holdings case.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-6d03b12e1d18/19", "deckHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18#slide-19", "loopMatches": [], "arcBeatMatches": [ { "to": 40, "from": 3, "beatId": "b3f52913-eba1-4212-8b6a-c784e421d7c9", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Expose Contradiction", "beatSlug": null, "evidence": "Multiple sections expose contradictions in Ströer's financial reporting and governance.", "position": 0, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-6d03b12e1d18", "docSlug": "cfe5ee328183", "documentTitle": "Stroer SE & Co. KGaA (SAX)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-04-21 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 20, "slideType": "appendix_disclosure", "function": "expose_contradiction", "notes": "The slide functions as a forensic narrative, documenting board departures and financial irregularities.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-6d03b12e1d18/20", "deckHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18#slide-20", "loopMatches": [], "arcBeatMatches": [ { "to": 40, "from": 3, "beatId": "b3f52913-eba1-4212-8b6a-c784e421d7c9", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Expose Contradiction", "beatSlug": null, "evidence": "Multiple sections expose contradictions in Ströer's financial reporting and governance.", "position": 0, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null }, { "to": 62, "from": 20, "beatId": "3171857b-3930-46f5-9955-6defb6a606d6", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Appendix Disclosure", "beatSlug": null, "evidence": "Appendices provide detailed disclosures supporting the critique.", "position": 1, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-6d03b12e1d18", "docSlug": "cfe5ee328183", "documentTitle": "Stroer SE & Co. KGaA (SAX)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-04-21 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 21, "slideType": "appendix_disclosure", "function": "expose_contradiction", "notes": "The slide uses direct quotes from annual reports to highlight a potential governance issue regarding the valuation and payment structure of an acquisition.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-6d03b12e1d18/21", "deckHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18#slide-21", "loopMatches": [], "arcBeatMatches": [ { "to": 40, "from": 3, "beatId": "b3f52913-eba1-4212-8b6a-c784e421d7c9", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Expose Contradiction", "beatSlug": null, "evidence": "Multiple sections expose contradictions in Ströer's financial reporting and governance.", "position": 0, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null }, { "to": 62, "from": 20, "beatId": "3171857b-3930-46f5-9955-6defb6a606d6", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Appendix Disclosure", "beatSlug": null, "evidence": "Appendices provide detailed disclosures supporting the critique.", "position": 1, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-6d03b12e1d18", "docSlug": "cfe5ee328183", "documentTitle": "Stroer SE & Co. KGaA (SAX)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-04-21 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 22, "slideType": "appendix_disclosure", "function": "expose_contradiction", "notes": "The slide highlights potential self-dealing and undisclosed consideration in corporate transactions.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-6d03b12e1d18/22", "deckHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18#slide-22", "loopMatches": [], "arcBeatMatches": [ { "to": 40, "from": 3, "beatId": "b3f52913-eba1-4212-8b6a-c784e421d7c9", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Expose Contradiction", "beatSlug": null, "evidence": "Multiple sections expose contradictions in Ströer's financial reporting and governance.", "position": 0, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null }, { "to": 62, "from": 20, "beatId": "3171857b-3930-46f5-9955-6defb6a606d6", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Appendix Disclosure", "beatSlug": null, "evidence": "Appendices provide detailed disclosures supporting the critique.", "position": 1, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-6d03b12e1d18", "docSlug": "cfe5ee328183", "documentTitle": "Stroer SE & Co. KGaA (SAX)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-04-21 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 23, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The slide uses a photo of a station domination to illustrate the scale of assets, followed by text detailing allegations of insider enrichment and failed acquisition synergies.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-6d03b12e1d18/23", "deckHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18#slide-23", "loopMatches": [], "arcBeatMatches": [ { "to": 40, "from": 3, "beatId": "b3f52913-eba1-4212-8b6a-c784e421d7c9", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Expose Contradiction", "beatSlug": null, "evidence": "Multiple sections expose contradictions in Ströer's financial reporting and governance.", "position": 0, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null }, { "to": 62, "from": 20, "beatId": "3171857b-3930-46f5-9955-6defb6a606d6", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Appendix Disclosure", "beatSlug": null, "evidence": "Appendices provide detailed disclosures supporting the critique.", "position": 1, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-6d03b12e1d18", "docSlug": "cfe5ee328183", "documentTitle": "Stroer SE & Co. KGaA (SAX)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-04-21 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 24, "slideType": "research-note", "function": "expose_contradiction", "notes": "This is a text-heavy research note page containing financial estimates and critical commentary on corporate governance.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-6d03b12e1d18/24", "deckHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18#slide-24", "loopMatches": [], "arcBeatMatches": [ { "to": 40, "from": 3, "beatId": "b3f52913-eba1-4212-8b6a-c784e421d7c9", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Expose Contradiction", "beatSlug": null, "evidence": "Multiple sections expose contradictions in Ströer's financial reporting and governance.", "position": 0, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null }, { "to": 62, "from": 20, "beatId": "3171857b-3930-46f5-9955-6defb6a606d6", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Appendix Disclosure", "beatSlug": null, "evidence": "Appendices provide detailed disclosures supporting the critique.", "position": 1, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-6d03b12e1d18", "docSlug": "cfe5ee328183", "documentTitle": "Stroer SE & Co. KGaA (SAX)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-04-21 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 25, "slideType": "appendix_disclosure", "function": "expose_contradiction", "notes": "The text highlights potential circular revenue streams and lack of transparency in insider transactions.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-6d03b12e1d18/25", "deckHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18#slide-25", "loopMatches": [], "arcBeatMatches": [ { "to": 40, "from": 3, "beatId": "b3f52913-eba1-4212-8b6a-c784e421d7c9", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Expose Contradiction", "beatSlug": null, "evidence": "Multiple sections expose contradictions in Ströer's financial reporting and governance.", "position": 0, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null }, { "to": 62, "from": 20, "beatId": "3171857b-3930-46f5-9955-6defb6a606d6", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Appendix Disclosure", "beatSlug": null, "evidence": "Appendices provide detailed disclosures supporting the critique.", "position": 1, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-6d03b12e1d18", "docSlug": "cfe5ee328183", "documentTitle": "Stroer SE & Co. KGaA (SAX)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-04-21 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 26, "slideType": "appendix", "function": "expose_contradiction", "notes": "The slide serves as an appendix to support a broader argument about the conflation of personal and corporate entities.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-6d03b12e1d18/26", "deckHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18#slide-26", "loopMatches": [], "arcBeatMatches": [ { "to": 40, "from": 3, "beatId": "b3f52913-eba1-4212-8b6a-c784e421d7c9", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Expose Contradiction", "beatSlug": null, "evidence": "Multiple sections expose contradictions in Ströer's financial reporting and governance.", "position": 0, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null }, { "to": 62, "from": 20, "beatId": "3171857b-3930-46f5-9955-6defb6a606d6", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Appendix Disclosure", "beatSlug": null, "evidence": "Appendices provide detailed disclosures supporting the critique.", "position": 1, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-6d03b12e1d18", "docSlug": "cfe5ee328183", "documentTitle": "Stroer SE & Co. KGaA (SAX)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-04-21 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 27, "slideType": "other", "function": "illustrate_case", "notes": "The slide showcases visual examples of out-of-home advertising placements.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-6d03b12e1d18/27", "deckHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18#slide-27", "loopMatches": [], "arcBeatMatches": [ { "to": 40, "from": 3, "beatId": "b3f52913-eba1-4212-8b6a-c784e421d7c9", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Expose Contradiction", "beatSlug": null, "evidence": "Multiple sections expose contradictions in Ströer's financial reporting and governance.", "position": 0, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null }, { "to": 62, "from": 20, "beatId": "3171857b-3930-46f5-9955-6defb6a606d6", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Appendix Disclosure", "beatSlug": null, "evidence": "Appendices provide detailed disclosures supporting the critique.", "position": 1, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-6d03b12e1d18", "docSlug": "cfe5ee328183", "documentTitle": "Stroer SE & Co. KGaA (SAX)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-04-21 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 28, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Includes section X regarding Unreported and Opaque Insider Sales.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-6d03b12e1d18/28", "deckHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18#slide-28", "loopMatches": [], "arcBeatMatches": [ { "to": 40, "from": 3, "beatId": "b3f52913-eba1-4212-8b6a-c784e421d7c9", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Expose Contradiction", "beatSlug": null, "evidence": "Multiple sections expose contradictions in Ströer's financial reporting and governance.", "position": 0, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null }, { "to": 62, "from": 20, "beatId": "3171857b-3930-46f5-9955-6defb6a606d6", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Appendix Disclosure", "beatSlug": null, "evidence": "Appendices provide detailed disclosures supporting the critique.", "position": 1, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-6d03b12e1d18", "docSlug": "cfe5ee328183", "documentTitle": "Stroer SE & Co. KGaA (SAX)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-04-21 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 29, "slideType": "appendix_disclosure", "function": "expose_contradiction", "notes": "The slide uses a narrative structure to expose potential regulatory arbitrage or non-compliance regarding disclosure thresholds.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-6d03b12e1d18/29", "deckHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18#slide-29", "loopMatches": [], "arcBeatMatches": [ { "to": 40, "from": 3, "beatId": "b3f52913-eba1-4212-8b6a-c784e421d7c9", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Expose Contradiction", "beatSlug": null, "evidence": "Multiple sections expose contradictions in Ströer's financial reporting and governance.", "position": 0, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null }, { "to": 62, "from": 20, "beatId": "3171857b-3930-46f5-9955-6defb6a606d6", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Appendix Disclosure", "beatSlug": null, "evidence": "Appendices provide detailed disclosures supporting the critique.", "position": 1, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-6d03b12e1d18", "docSlug": "cfe5ee328183", "documentTitle": "Stroer SE & Co. KGaA (SAX)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-04-21 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 30, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The slide uses a skeptical tone to highlight potential regulatory negligence and questionable share transfers.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-6d03b12e1d18/30", "deckHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18#slide-30", "loopMatches": [], "arcBeatMatches": [ { "to": 40, "from": 3, "beatId": "b3f52913-eba1-4212-8b6a-c784e421d7c9", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Expose Contradiction", "beatSlug": null, "evidence": "Multiple sections expose contradictions in Ströer's financial reporting and governance.", "position": 0, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null }, { "to": 62, "from": 20, "beatId": "3171857b-3930-46f5-9955-6defb6a606d6", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Appendix Disclosure", "beatSlug": null, "evidence": "Appendices provide detailed disclosures supporting the critique.", "position": 1, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-6d03b12e1d18", "docSlug": "cfe5ee328183", "documentTitle": "Stroer SE & Co. KGaA (SAX)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-04-21 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 31, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The slide uses data to imply potential illicit or coordinated activity between insiders and a Liechtenstein-based foundation.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-6d03b12e1d18/31", "deckHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18#slide-31", "loopMatches": [], "arcBeatMatches": [ { "to": 40, "from": 3, "beatId": "b3f52913-eba1-4212-8b6a-c784e421d7c9", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Expose Contradiction", "beatSlug": null, "evidence": "Multiple sections expose contradictions in Ströer's financial reporting and governance.", "position": 0, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null }, { "to": 62, "from": 20, "beatId": "3171857b-3930-46f5-9955-6defb6a606d6", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Appendix Disclosure", "beatSlug": null, "evidence": "Appendices provide detailed disclosures supporting the critique.", "position": 1, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-6d03b12e1d18", "docSlug": "cfe5ee328183", "documentTitle": "Stroer SE & Co. KGaA (SAX)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-04-21 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 32, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "This is a research note page focusing on forensic accounting and corporate governance allegations.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-6d03b12e1d18/32", "deckHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18#slide-32", "loopMatches": [], "arcBeatMatches": [ { "to": 40, "from": 3, "beatId": "b3f52913-eba1-4212-8b6a-c784e421d7c9", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Expose Contradiction", "beatSlug": null, "evidence": "Multiple sections expose contradictions in Ströer's financial reporting and governance.", "position": 0, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null }, { "to": 62, "from": 20, "beatId": "3171857b-3930-46f5-9955-6defb6a606d6", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Appendix Disclosure", "beatSlug": null, "evidence": "Appendices provide detailed disclosures supporting the critique.", "position": 1, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-6d03b12e1d18", "docSlug": "cfe5ee328183", "documentTitle": "Stroer SE & Co. KGaA (SAX)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-04-21 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 33, "slideType": "appendix_disclosure", "function": "cite_precedent", "notes": "The text is a dense narrative block with extensive footnotes documenting corporate transactions and legal/operational issues.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-6d03b12e1d18/33", "deckHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18#slide-33", "loopMatches": [], "arcBeatMatches": [ { "to": 40, "from": 3, "beatId": "b3f52913-eba1-4212-8b6a-c784e421d7c9", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Expose Contradiction", "beatSlug": null, "evidence": "Multiple sections expose contradictions in Ströer's financial reporting and governance.", "position": 0, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null }, { "to": 62, "from": 20, "beatId": "3171857b-3930-46f5-9955-6defb6a606d6", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Appendix Disclosure", "beatSlug": null, "evidence": "Appendices provide detailed disclosures supporting the critique.", "position": 1, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-6d03b12e1d18", "docSlug": "cfe5ee328183", "documentTitle": "Stroer SE & Co. KGaA (SAX)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-04-21 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 34, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The text contains detailed footnotes referencing specific annual reports and legal filings to support the allegations of financial misstatement.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-6d03b12e1d18/34", "deckHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18#slide-34", "loopMatches": [], "arcBeatMatches": [ { "to": 40, "from": 3, "beatId": "b3f52913-eba1-4212-8b6a-c784e421d7c9", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Expose Contradiction", "beatSlug": null, "evidence": "Multiple sections expose contradictions in Ströer's financial reporting and governance.", "position": 0, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null }, { "to": 62, "from": 20, "beatId": "3171857b-3930-46f5-9955-6defb6a606d6", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Appendix Disclosure", "beatSlug": null, "evidence": "Appendices provide detailed disclosures supporting the critique.", "position": 1, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-6d03b12e1d18", "docSlug": "cfe5ee328183", "documentTitle": "Stroer SE & Co. KGaA (SAX)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-04-21 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 35, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "This is a page from a research report (likely a short-seller report) containing text-based arguments and supporting quotes.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-6d03b12e1d18/35", "deckHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18#slide-35", "loopMatches": [], "arcBeatMatches": [ { "to": 40, "from": 3, "beatId": "b3f52913-eba1-4212-8b6a-c784e421d7c9", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Expose Contradiction", "beatSlug": null, "evidence": "Multiple sections expose contradictions in Ströer's financial reporting and governance.", "position": 0, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null }, { "to": 62, "from": 20, "beatId": "3171857b-3930-46f5-9955-6defb6a606d6", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Appendix Disclosure", "beatSlug": null, "evidence": "Appendices provide detailed disclosures supporting the critique.", "position": 1, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-6d03b12e1d18", "docSlug": "cfe5ee328183", "documentTitle": "Stroer SE & Co. KGaA (SAX)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-04-21 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 36, "slideType": "villain_critique", "function": "name_villain", "notes": "Includes anecdotal quotes from management and external observers regarding acquisition strategy and market perception.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-6d03b12e1d18/36", "deckHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18#slide-36", "loopMatches": [], "arcBeatMatches": [ { "to": 40, "from": 3, "beatId": "b3f52913-eba1-4212-8b6a-c784e421d7c9", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Expose Contradiction", "beatSlug": null, "evidence": "Multiple sections expose contradictions in Ströer's financial reporting and governance.", "position": 0, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null }, { "to": 62, "from": 20, "beatId": "3171857b-3930-46f5-9955-6defb6a606d6", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Appendix Disclosure", "beatSlug": null, "evidence": "Appendices provide detailed disclosures supporting the critique.", "position": 1, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-6d03b12e1d18", "docSlug": "cfe5ee328183", "documentTitle": "Stroer SE & Co. KGaA (SAX)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-04-21 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 37, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The slide uses a narrative structure to challenge the company's stated rationale for structural changes and board composition.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-6d03b12e1d18/37", "deckHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18#slide-37", "loopMatches": [], "arcBeatMatches": [ { "to": 40, "from": 3, "beatId": "b3f52913-eba1-4212-8b6a-c784e421d7c9", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Expose Contradiction", "beatSlug": null, "evidence": "Multiple sections expose contradictions in Ströer's financial reporting and governance.", "position": 0, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null }, { "to": 62, "from": 20, "beatId": "3171857b-3930-46f5-9955-6defb6a606d6", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Appendix Disclosure", "beatSlug": null, "evidence": "Appendices provide detailed disclosures supporting the critique.", "position": 1, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-6d03b12e1d18", "docSlug": "cfe5ee328183", "documentTitle": "Stroer SE & Co. KGaA (SAX)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-04-21 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 38, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The slide uses a screenshot of a corporate website to demonstrate that the company's public disclosure is inconsistent with the actual board composition.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-6d03b12e1d18/38", "deckHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18#slide-38", "loopMatches": [], "arcBeatMatches": [ { "to": 40, "from": 3, "beatId": "b3f52913-eba1-4212-8b6a-c784e421d7c9", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Expose Contradiction", "beatSlug": null, "evidence": "Multiple sections expose contradictions in Ströer's financial reporting and governance.", "position": 0, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null }, { "to": 62, "from": 20, "beatId": "3171857b-3930-46f5-9955-6defb6a606d6", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Appendix Disclosure", "beatSlug": null, "evidence": "Appendices provide detailed disclosures supporting the critique.", "position": 1, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-6d03b12e1d18", "docSlug": "cfe5ee328183", "documentTitle": "Stroer SE & Co. KGaA (SAX)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-04-21 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 39, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Includes a list of the Aufsichtsrat (Supervisory Board) members at the top.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-6d03b12e1d18/39", "deckHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18#slide-39", "loopMatches": [], "arcBeatMatches": [ { "to": 40, "from": 3, "beatId": "b3f52913-eba1-4212-8b6a-c784e421d7c9", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Expose Contradiction", "beatSlug": null, "evidence": "Multiple sections expose contradictions in Ströer's financial reporting and governance.", "position": 0, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null }, { "to": 62, "from": 20, "beatId": "3171857b-3930-46f5-9955-6defb6a606d6", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Appendix Disclosure", "beatSlug": null, "evidence": "Appendices provide detailed disclosures supporting the critique.", "position": 1, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-6d03b12e1d18", "docSlug": "cfe5ee328183", "documentTitle": "Stroer SE & Co. KGaA (SAX)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-04-21 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 40, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The slide uses a series of rhetorical questions to challenge the company's stated rationale for complex M&A transactions.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-6d03b12e1d18/40", "deckHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18#slide-40", "loopMatches": [], "arcBeatMatches": [ { "to": 40, "from": 3, "beatId": "b3f52913-eba1-4212-8b6a-c784e421d7c9", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Expose Contradiction", "beatSlug": null, "evidence": "Multiple sections expose contradictions in Ströer's financial reporting and governance.", "position": 0, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null }, { "to": 62, "from": 20, "beatId": "3171857b-3930-46f5-9955-6defb6a606d6", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Appendix Disclosure", "beatSlug": null, "evidence": "Appendices provide detailed disclosures supporting the critique.", "position": 1, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-6d03b12e1d18", "docSlug": "cfe5ee328183", "documentTitle": "Stroer SE & Co. KGaA (SAX)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-04-21 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 41, "slideType": "appendix_disclosure", "function": "expose_contradiction", "notes": "The slide uses a comparison of financial metrics to cast doubt on the legitimacy of reported margins, citing a historical fraud case (CCME) as a precedent.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-6d03b12e1d18/41", "deckHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18#slide-41", "loopMatches": [], "arcBeatMatches": [ { "to": 62, "from": 20, "beatId": "3171857b-3930-46f5-9955-6defb6a606d6", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Appendix Disclosure", "beatSlug": null, "evidence": "Appendices provide detailed disclosures supporting the critique.", "position": 1, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-6d03b12e1d18", "docSlug": "cfe5ee328183", "documentTitle": "Stroer SE & Co. KGaA (SAX)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-04-21 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 42, "slideType": "appendix_data", "function": "appendix", "notes": "The slide contains a table with time codes, German transcriptions, and English translations of a conversation.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-6d03b12e1d18/42", "deckHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18#slide-42", "loopMatches": [], "arcBeatMatches": [ { "to": 62, "from": 20, "beatId": "3171857b-3930-46f5-9955-6defb6a606d6", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Appendix Disclosure", "beatSlug": null, "evidence": "Appendices provide detailed disclosures supporting the critique.", "position": 1, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-6d03b12e1d18", "docSlug": "cfe5ee328183", "documentTitle": "Stroer SE & Co. KGaA (SAX)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-04-21 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 43, "slideType": "appendix_data", "function": "summarize", "notes": "Transcript table with German and English columns.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-6d03b12e1d18/43", "deckHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18#slide-43", "loopMatches": [], "arcBeatMatches": [ { "to": 62, "from": 20, "beatId": "3171857b-3930-46f5-9955-6defb6a606d6", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Appendix Disclosure", "beatSlug": null, "evidence": "Appendices provide detailed disclosures supporting the critique.", "position": 1, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-6d03b12e1d18", "docSlug": "cfe5ee328183", "documentTitle": "Stroer SE & Co. KGaA (SAX)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-04-21 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 44, "slideType": "appendix", "function": "appendix", "notes": "Bilingual transcript (German/English) of a corporate presentation.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-6d03b12e1d18/44", "deckHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18#slide-44", "loopMatches": [], "arcBeatMatches": [ { "to": 62, "from": 20, "beatId": "3171857b-3930-46f5-9955-6defb6a606d6", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Appendix Disclosure", "beatSlug": null, "evidence": "Appendices provide detailed disclosures supporting the critique.", "position": 1, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-6d03b12e1d18", "docSlug": "cfe5ee328183", "documentTitle": "Stroer SE & Co. KGaA (SAX)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-04-21 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 45, "slideType": "other", "function": "summarize", "notes": "Transcript table with timestamps and speaker initials (C. Sch.).", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-6d03b12e1d18/45", "deckHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18#slide-45", "loopMatches": [], "arcBeatMatches": [ { "to": 62, "from": 20, "beatId": "3171857b-3930-46f5-9955-6defb6a606d6", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Appendix Disclosure", "beatSlug": null, "evidence": "Appendices provide detailed disclosures supporting the critique.", "position": 1, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-6d03b12e1d18", "docSlug": "cfe5ee328183", "documentTitle": "Stroer SE & Co. KGaA (SAX)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-04-21 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 46, "slideType": "appendix", "function": "summarize", "notes": "The slide is a bilingual (German/English) transcript table.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-6d03b12e1d18/46", "deckHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18#slide-46", "loopMatches": [], "arcBeatMatches": [ { "to": 62, "from": 20, "beatId": "3171857b-3930-46f5-9955-6defb6a606d6", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Appendix Disclosure", "beatSlug": null, "evidence": "Appendices provide detailed disclosures supporting the critique.", "position": 1, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-6d03b12e1d18", "docSlug": "cfe5ee328183", "documentTitle": "Stroer SE & Co. KGaA (SAX)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-04-21 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 47, "slideType": "appendix", "function": "appendix", "notes": "Transcript includes timestamps and speaker initials (C. Sch. and P. W. M.).", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-6d03b12e1d18/47", "deckHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18#slide-47", "loopMatches": [], "arcBeatMatches": [ { "to": 62, "from": 20, "beatId": "3171857b-3930-46f5-9955-6defb6a606d6", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Appendix Disclosure", "beatSlug": null, "evidence": "Appendices provide detailed disclosures supporting the critique.", "position": 1, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-6d03b12e1d18", "docSlug": "cfe5ee328183", "documentTitle": "Stroer SE & Co. KGaA (SAX)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-04-21 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 48, "slideType": "quote_slide", "function": "summarize", "notes": "The slide is a bilingual (German/English) transcript table.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-6d03b12e1d18/48", "deckHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18#slide-48", "loopMatches": [], "arcBeatMatches": [ { "to": 62, "from": 20, "beatId": "3171857b-3930-46f5-9955-6defb6a606d6", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Appendix Disclosure", "beatSlug": null, "evidence": "Appendices provide detailed disclosures supporting the critique.", "position": 1, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-6d03b12e1d18", "docSlug": "cfe5ee328183", "documentTitle": "Stroer SE & Co. KGaA (SAX)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-04-21 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 49, "slideType": "other", "function": "summarize", "notes": "Transcript format with timestamps and speaker initials (C. Sch.).", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-6d03b12e1d18/49", "deckHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18#slide-49", "loopMatches": [], "arcBeatMatches": [ { "to": 62, "from": 20, "beatId": "3171857b-3930-46f5-9955-6defb6a606d6", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Appendix Disclosure", "beatSlug": null, "evidence": "Appendices provide detailed disclosures supporting the critique.", "position": 1, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-6d03b12e1d18", "docSlug": "cfe5ee328183", "documentTitle": "Stroer SE & Co. KGaA (SAX)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-04-21 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 50, "slideType": "appendix", "function": "appendix", "notes": "The slide is a verbatim transcript table with timestamps, speaker initials, German text, and English translation.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-6d03b12e1d18/50", "deckHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18#slide-50", "loopMatches": [], "arcBeatMatches": [ { "to": 62, "from": 20, "beatId": "3171857b-3930-46f5-9955-6defb6a606d6", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Appendix Disclosure", "beatSlug": null, "evidence": "Appendices provide detailed disclosures supporting the critique.", "position": 1, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-6d03b12e1d18", "docSlug": "cfe5ee328183", "documentTitle": "Stroer SE & Co. KGaA (SAX)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-04-21 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 51, "slideType": "other", "function": "summarize", "notes": "The slide is a bilingual (German/English) transcript table.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-6d03b12e1d18/51", "deckHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18#slide-51", "loopMatches": [], "arcBeatMatches": [ { "to": 62, "from": 20, "beatId": "3171857b-3930-46f5-9955-6defb6a606d6", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Appendix Disclosure", "beatSlug": null, "evidence": "Appendices provide detailed disclosures supporting the critique.", "position": 1, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-6d03b12e1d18", "docSlug": "cfe5ee328183", "documentTitle": "Stroer SE & Co. KGaA (SAX)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-04-21 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 52, "slideType": "other", "function": "other", "notes": "This appears to be a page from a transcript document, likely an interview with a CEO or executive (C. Sch.) regarding organizational culture and change management.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-6d03b12e1d18/52", "deckHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18#slide-52", "loopMatches": [], "arcBeatMatches": [ { "to": 62, "from": 20, "beatId": "3171857b-3930-46f5-9955-6defb6a606d6", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Appendix Disclosure", "beatSlug": null, "evidence": "Appendices provide detailed disclosures supporting the critique.", "position": 1, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-6d03b12e1d18", "docSlug": "cfe5ee328183", "documentTitle": "Stroer SE & Co. KGaA (SAX)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-04-21 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 53, "slideType": "appendix_data", "function": "summarize", "notes": "Transcript table with timestamps, German original text, and English translation.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-6d03b12e1d18/53", "deckHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18#slide-53", "loopMatches": [], "arcBeatMatches": [ { "to": 62, "from": 20, "beatId": "3171857b-3930-46f5-9955-6defb6a606d6", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Appendix Disclosure", "beatSlug": null, "evidence": "Appendices provide detailed disclosures supporting the critique.", "position": 1, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-6d03b12e1d18", "docSlug": "cfe5ee328183", "documentTitle": "Stroer SE & Co. KGaA (SAX)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-04-21 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 54, "slideType": "appendix", "function": "appendix", "notes": "The slide is a table containing a transcript of a conversation between two speakers (C. Sch. and F. H.) with timestamps.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-6d03b12e1d18/54", "deckHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18#slide-54", "loopMatches": [], "arcBeatMatches": [ { "to": 62, "from": 20, "beatId": "3171857b-3930-46f5-9955-6defb6a606d6", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Appendix Disclosure", "beatSlug": null, "evidence": "Appendices provide detailed disclosures supporting the critique.", "position": 1, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-6d03b12e1d18", "docSlug": "cfe5ee328183", "documentTitle": "Stroer SE & Co. KGaA (SAX)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-04-21 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 55, "slideType": "other", "function": "summarize", "notes": "The slide is a bilingual (German/English) transcript table.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-6d03b12e1d18/55", "deckHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18#slide-55", "loopMatches": [], "arcBeatMatches": [ { "to": 62, "from": 20, "beatId": "3171857b-3930-46f5-9955-6defb6a606d6", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Appendix Disclosure", "beatSlug": null, "evidence": "Appendices provide detailed disclosures supporting the critique.", "position": 1, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-6d03b12e1d18", "docSlug": "cfe5ee328183", "documentTitle": "Stroer SE & Co. KGaA (SAX)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-04-21 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 56, "slideType": "appendix", "function": "appendix", "notes": "The slide is a table containing a bilingual (German/English) transcript of a discussion.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-6d03b12e1d18/56", "deckHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18#slide-56", "loopMatches": [], "arcBeatMatches": [ { "to": 62, "from": 20, "beatId": "3171857b-3930-46f5-9955-6defb6a606d6", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Appendix Disclosure", "beatSlug": null, "evidence": "Appendices provide detailed disclosures supporting the critique.", "position": 1, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-6d03b12e1d18", "docSlug": "cfe5ee328183", "documentTitle": "Stroer SE & Co. KGaA (SAX)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-04-21 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 57, "slideType": "preempt_rebuttal", "function": "preempt_rebuttal", "notes": "The slide is a bilingual (German/English) transcript table documenting audience questions and speaker responses.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-6d03b12e1d18/57", "deckHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18#slide-57", "loopMatches": [], "arcBeatMatches": [ { "to": 62, "from": 20, "beatId": "3171857b-3930-46f5-9955-6defb6a606d6", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Appendix Disclosure", "beatSlug": null, "evidence": "Appendices provide detailed disclosures supporting the critique.", "position": 1, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-6d03b12e1d18", "docSlug": "cfe5ee328183", "documentTitle": "Stroer SE & Co. KGaA (SAX)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-04-21 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 58, "slideType": "other", "function": "other", "notes": "The slide is a verbatim transcript table with German on the left and English translation on the right.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-6d03b12e1d18/58", "deckHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18#slide-58", "loopMatches": [], "arcBeatMatches": [ { "to": 62, "from": 20, "beatId": "3171857b-3930-46f5-9955-6defb6a606d6", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Appendix Disclosure", "beatSlug": null, "evidence": "Appendices provide detailed disclosures supporting the critique.", "position": 1, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-6d03b12e1d18", "docSlug": "cfe5ee328183", "documentTitle": "Stroer SE & Co. KGaA (SAX)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-04-21 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 59, "slideType": "appendix", "function": "appendix", "notes": "Bilingual transcript (German/English) of a presentation Q&A session.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-6d03b12e1d18/59", "deckHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18#slide-59", "loopMatches": [], "arcBeatMatches": [ { "to": 62, "from": 20, "beatId": "3171857b-3930-46f5-9955-6defb6a606d6", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Appendix Disclosure", "beatSlug": null, "evidence": "Appendices provide detailed disclosures supporting the critique.", "position": 1, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-6d03b12e1d18", "docSlug": "cfe5ee328183", "documentTitle": "Stroer SE & Co. KGaA (SAX)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-04-21 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 60, "slideType": "testimonial", "function": "summarize", "notes": "The slide is a bilingual (German/English) transcript of a live event or interview.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-6d03b12e1d18/60", "deckHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18#slide-60", "loopMatches": [], "arcBeatMatches": [ { "to": 62, "from": 20, "beatId": "3171857b-3930-46f5-9955-6defb6a606d6", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Appendix Disclosure", "beatSlug": null, "evidence": "Appendices provide detailed disclosures supporting the critique.", "position": 1, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-6d03b12e1d18", "docSlug": "cfe5ee328183", "documentTitle": "Stroer SE & Co. KGaA (SAX)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-04-21 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 61, "slideType": "appendix_disclosure", "function": "appendix", "notes": "Contains detailed footnotes referencing specific news articles and press releases.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-6d03b12e1d18/61", "deckHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18#slide-61", "loopMatches": [], "arcBeatMatches": [ { "to": 62, "from": 20, "beatId": "3171857b-3930-46f5-9955-6defb6a606d6", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Appendix Disclosure", "beatSlug": null, "evidence": "Appendices provide detailed disclosures supporting the critique.", "position": 1, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-6d03b12e1d18", "docSlug": "cfe5ee328183", "documentTitle": "Stroer SE & Co. KGaA (SAX)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-04-21 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 62, "slideType": "appendix_disclosure", "function": "appendix", "notes": "The slide contains footnotes referencing specific media sources for the claims made about Ströer and Media Ventures.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-6d03b12e1d18/62", "deckHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-6d03b12e1d18#slide-62", "loopMatches": [], "arcBeatMatches": [ { "to": 62, "from": 20, "beatId": "3171857b-3930-46f5-9955-6defb6a606d6", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Appendix Disclosure", "beatSlug": null, "evidence": "Appendices provide detailed disclosures supporting the critique.", "position": 1, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-76efb5813bae", "docSlug": "8ff52fe302da", "documentTitle": "St. Jude Medical (STJ)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-08-25 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 1, "slideType": "appendix_disclosure", "function": "other", "notes": "Standard legal boilerplate for investment research.", "imagePath": "https://imgproxy.kitesheet.com/0gGjVR_gOAQcMC67-PcaaCwiIhjgYUt0S2W_leV1EFk/rs:fit:1200:1200:0/q:82/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy84ZmY1MmZlMzAyZGEvcDAwMS5qcGc", "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-76efb5813bae/1", "deckHref": "/decks/019dd923-622c-750b-8b96-76efb5813bae", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-76efb5813bae#slide-1", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": "https://imgproxy.kitesheet.com/5ODhOY8TuvwPey2-L3X3lF-DgDRAP5PulYpMPscA9aE/rs:fit:1200:1200:0/q:82/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy84ZmY1MmZlMzAyZGEvcDAwMS5wbmc", "thumbSrc": "https://imgproxy.kitesheet.com/gy9ibBJ5-9DCvNyXVZ3N9YcZH_96gfkNTxF8E7H6REM/rs:fit:480:480:0/q:78/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy84ZmY1MmZlMzAyZGEvcDAwMS5qcGc", "thumbSrcAlt": "https://imgproxy.kitesheet.com/on6Q87StlsXz1CrXeksYs_YLX4O9jE2yAQHKJmoMY-4/rs:fit:480:480:0/q:78/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy84ZmY1MmZlMzAyZGEvcDAwMS5wbmc" }, { "docId": "019dd923-622c-750b-8b96-76efb5813bae", "docSlug": "8ff52fe302da", "documentTitle": "St. Jude Medical (STJ)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-08-25 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 2, "slideType": "executive_summary", "function": "frame_situation", "notes": "The slide serves as the formal introduction to the short thesis, establishing the firm's position and the core argument regarding product recalls and cybersecurity risks.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-76efb5813bae/2", "deckHref": "/decks/019dd923-622c-750b-8b96-76efb5813bae", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-76efb5813bae#slide-2", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-76efb5813bae", "docSlug": "8ff52fe302da", "documentTitle": "St. Jude Medical (STJ)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-08-25 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 3, "slideType": "other", "function": "diagnose_problem", "notes": "This is a text-heavy research note page. It discusses the collaboration between Muddy Waters and MedSec to expose security flaws in STJ devices.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-76efb5813bae/3", "deckHref": "/decks/019dd923-622c-750b-8b96-76efb5813bae", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-76efb5813bae#slide-3", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-76efb5813bae", "docSlug": "8ff52fe302da", "documentTitle": "St. Jude Medical (STJ)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-08-25 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 4, "slideType": "appendix_disclosure", "function": "frame_situation", "notes": "This is a disclosure/methodology page from a Muddy Waters research report regarding St. Jude Medical (STJ) device vulnerabilities.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-76efb5813bae/4", "deckHref": "/decks/019dd923-622c-750b-8b96-76efb5813bae", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-76efb5813bae#slide-4", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-76efb5813bae", "docSlug": "8ff52fe302da", "documentTitle": "St. Jude Medical (STJ)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-08-25 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 5, "slideType": "comparison_table", "function": "frame_situation", "notes": "The slide highlights a lack of encryption and authentication across the ecosystem, framing it as a security vulnerability.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-76efb5813bae/5", "deckHref": "/decks/019dd923-622c-750b-8b96-76efb5813bae", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-76efb5813bae#slide-5", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-76efb5813bae", "docSlug": "8ff52fe302da", "documentTitle": "St. Jude Medical (STJ)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-08-25 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 6, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The slide uses a diagram to show the connectivity between patient, home device, programmer, and network, followed by text arguing that STJ lacks standard security defenses.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-76efb5813bae/6", "deckHref": "/decks/019dd923-622c-750b-8b96-76efb5813bae", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-76efb5813bae#slide-6", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-76efb5813bae", "docSlug": "8ff52fe302da", "documentTitle": "St. Jude Medical (STJ)", "authorId": "51_Muddy_Waters", "authorName": "Carson C. Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-08-25 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 7, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The slide highlights the ease of acquiring medical hardware that researchers have proven to be hackable from a distance of 50 feet.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-76efb5813bae/7", "deckHref": "/decks/019dd923-622c-750b-8b96-76efb5813bae", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-76efb5813bae#slide-7", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-73aafa09c850", "docSlug": "9686328c7016", "documentTitle": "St. Jude Medical (STJ)", "authorId": "51_Muddy_Waters", "authorName": "Carson Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-08-29 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 1, "slideType": "disclaimer", "function": "other", "notes": "Standard legal boilerplate for investment research.", "imagePath": "https://imgproxy.kitesheet.com/aTpbAbpQGQeZCTjNicfGMjbSGCkRrpZBBRDFTqIS5Ks/rs:fit:1200:1200:0/q:82/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy85Njg2MzI4YzcwMTYvcDAwMS5qcGc", "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-73aafa09c850/1", "deckHref": "/decks/019dd923-622c-750b-8b96-73aafa09c850", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-73aafa09c850#slide-1", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": "https://imgproxy.kitesheet.com/5jJfg6jShjl8h8nFgDwhEkiMUc8F2xrx4fY9iyWjBGw/rs:fit:1200:1200:0/q:82/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy85Njg2MzI4YzcwMTYvcDAwMS5wbmc", "thumbSrc": "https://imgproxy.kitesheet.com/qXZaqS9Aq7NtwfBZTbdvfIR4L5611zy6noW3BAVXqBM/rs:fit:480:480:0/q:78/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy85Njg2MzI4YzcwMTYvcDAwMS5qcGc", "thumbSrcAlt": "https://imgproxy.kitesheet.com/-6wNIxDlxkedq6m6sojo3N9CckZmtK4Jv0fwh8mBYbI/rs:fit:480:480:0/q:78/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy85Njg2MzI4YzcwMTYvcDAwMS5wbmc" }, { "docId": "019dd923-622c-750b-8b96-73aafa09c850", "docSlug": "9686328c7016", "documentTitle": "St. Jude Medical (STJ)", "authorId": "51_Muddy_Waters", "authorName": "Carson Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-08-29 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 2, "slideType": "preempt_rebuttal", "function": "preempt_rebuttal", "notes": "This is a research note page from a report by MedSec/MWC regarding St. Jude Medical (STJ) device security.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-73aafa09c850/2", "deckHref": "/decks/019dd923-622c-750b-8b96-73aafa09c850", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-73aafa09c850#slide-2", "loopMatches": [ { "to": 5, "from": 2, "name": "Myth Buster", "slug": "12-myth-buster", "bestFor": "Rebranding, changing market perception, correcting false assumptions", "matchId": "250b742a-5438-494d-ae72-24c9b8a42556", "evidence": "The document exposes contradictions in STJ's response", "position": 1, "objective": "What are the contradictions in St. Jude Medical's response?", "structure": "The Common Belief -> The Friction/Failure of that Belief -> The New Truth", "confidence": 0.8, "description": "Address a common misconception head-on to clear the room for a new truth" } ], "arcBeatMatches": [ { "to": 5, "from": 2, "beatId": "00b380e0-e19f-4a6e-ad54-6c51909a9cc5", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Monster", "beatSlug": "overcoming-monster-the-monster", "evidence": "The analysis of St. Jude Medical's credibility and the exposure of contradictions", "position": 0, "confidence": 0.8, "parentBeatName": "Hook", "parentBeatSlug": "hook" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-73aafa09c850", "docSlug": "9686328c7016", "documentTitle": "St. Jude Medical (STJ)", "authorId": "51_Muddy_Waters", "authorName": "Carson Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-08-29 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 3, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "This is a page from a research note/report by MedSec/Muddy Waters. It uses a numbered list to systematically dismantle STJ's claims.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-73aafa09c850/3", "deckHref": "/decks/019dd923-622c-750b-8b96-73aafa09c850", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-73aafa09c850#slide-3", "loopMatches": [ { "to": 3, "from": 3, "name": "Aha Moment", "slug": "03-aha-moment", "bestFor": "Data-heavy sections, research findings, analytical arguments", "matchId": "4c4bd1c4-e2b8-410c-8259-251983e2c907", "evidence": "The analysis highlights a specific statement by STJ as a concern", "position": 0, "objective": "What is the key concern with St. Jude Medical's response?", "structure": "The Problem/Question -> What the Data Shows -> The Insight", "confidence": 0.8, "description": "Establish a tension, present data, then deliver the insight that changes everything" }, { "to": 5, "from": 2, "name": "Myth Buster", "slug": "12-myth-buster", "bestFor": "Rebranding, changing market perception, correcting false assumptions", "matchId": "250b742a-5438-494d-ae72-24c9b8a42556", "evidence": "The document exposes contradictions in STJ's response", "position": 1, "objective": "What are the contradictions in St. Jude Medical's response?", "structure": "The Common Belief -> The Friction/Failure of that Belief -> The New Truth", "confidence": 0.8, "description": "Address a common misconception head-on to clear the room for a new truth" } ], "arcBeatMatches": [ { "to": 5, "from": 2, "beatId": "00b380e0-e19f-4a6e-ad54-6c51909a9cc5", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Monster", "beatSlug": "overcoming-monster-the-monster", "evidence": "The analysis of St. Jude Medical's credibility and the exposure of contradictions", "position": 0, "confidence": 0.8, "parentBeatName": "Hook", "parentBeatSlug": "hook" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-73aafa09c850", "docSlug": "9686328c7016", "documentTitle": "St. Jude Medical (STJ)", "authorId": "51_Muddy_Waters", "authorName": "Carson Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-08-29 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 4, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "This is a research note page focusing on behavioral analysis of corporate communication in response to short-seller allegations.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-73aafa09c850/4", "deckHref": "/decks/019dd923-622c-750b-8b96-73aafa09c850", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-73aafa09c850#slide-4", "loopMatches": [ { "to": 5, "from": 2, "name": "Myth Buster", "slug": "12-myth-buster", "bestFor": "Rebranding, changing market perception, correcting false assumptions", "matchId": "250b742a-5438-494d-ae72-24c9b8a42556", "evidence": "The document exposes contradictions in STJ's response", "position": 1, "objective": "What are the contradictions in St. Jude Medical's response?", "structure": "The Common Belief -> The Friction/Failure of that Belief -> The New Truth", "confidence": 0.8, "description": "Address a common misconception head-on to clear the room for a new truth" } ], "arcBeatMatches": [ { "to": 5, "from": 2, "beatId": "00b380e0-e19f-4a6e-ad54-6c51909a9cc5", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Monster", "beatSlug": "overcoming-monster-the-monster", "evidence": "The analysis of St. Jude Medical's credibility and the exposure of contradictions", "position": 0, "confidence": 0.8, "parentBeatName": "Hook", "parentBeatSlug": "hook" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-73aafa09c850", "docSlug": "9686328c7016", "documentTitle": "St. Jude Medical (STJ)", "authorId": "51_Muddy_Waters", "authorName": "Carson Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-08-29 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 5, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The slide deconstructs specific rhetorical devices used by a company (STJ) in response to a security report (MWC).", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-73aafa09c850/5", "deckHref": "/decks/019dd923-622c-750b-8b96-73aafa09c850", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-73aafa09c850#slide-5", "loopMatches": [ { "to": 5, "from": 2, "name": "Myth Buster", "slug": "12-myth-buster", "bestFor": "Rebranding, changing market perception, correcting false assumptions", "matchId": "250b742a-5438-494d-ae72-24c9b8a42556", "evidence": "The document exposes contradictions in STJ's response", "position": 1, "objective": "What are the contradictions in St. Jude Medical's response?", "structure": "The Common Belief -> The Friction/Failure of that Belief -> The New Truth", "confidence": 0.8, "description": "Address a common misconception head-on to clear the room for a new truth" } ], "arcBeatMatches": [ { "to": 5, "from": 2, "beatId": "00b380e0-e19f-4a6e-ad54-6c51909a9cc5", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Monster", "beatSlug": "overcoming-monster-the-monster", "evidence": "The analysis of St. Jude Medical's credibility and the exposure of contradictions", "position": 0, "confidence": 0.8, "parentBeatName": "Hook", "parentBeatSlug": "hook" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b96-73aafa09c850", "docSlug": "9686328c7016", "documentTitle": "St. Jude Medical (STJ)", "authorId": "51_Muddy_Waters", "authorName": "Carson Block", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2016-08-29 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 6, "slideType": "preempt_rebuttal", "function": "preempt_rebuttal", "notes": "This slide appears to be the final page of a research note or report, focusing on exposing deceptive communication tactics.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b96-73aafa09c850/6", "deckHref": "/decks/019dd923-622c-750b-8b96-73aafa09c850", "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-73aafa09c850#slide-6", "loopMatches": [], "arcBeatMatches": [ { "to": 6, "from": 6, "beatId": "ad2110b2-1021-4f06-aeb9-543a7e9df6fd", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The conclusion slide", "position": 1, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true } ] }