{ "kind": "all", "value": "all", "collectionKey": "slides:all:all:all-document-kinds:all-producers:all-orientations", "filters": { "documentKinds": [], "sourceTypes": [], "orientations": [] }, "total": 319975, "page": 2075, "pageSize": 60, "pageCount": 5333, "rows": [ { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 42, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The chart highlights the 'Merger Announced' and 'Merger Closed' points to show price stability.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/42", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-42", "loopMatches": [], "arcBeatMatches": [ { "to": 50, "from": 21, "beatId": "54dab807-671b-4943-b069-356d1be04852", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Struggle", "beatSlug": "overcoming-monster-the-struggle", "evidence": "The document presents evidence of AMR's poor positioning.", "position": 2, "confidence": 0.8, "parentBeatName": "Development", "parentBeatSlug": "development" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 43, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The slide highlights a specific accounting practice used by AMR to manipulate cost metrics, linking it to executive turnover.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/43", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-43", "loopMatches": [], "arcBeatMatches": [ { "to": 50, "from": 21, "beatId": "54dab807-671b-4943-b069-356d1be04852", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Struggle", "beatSlug": "overcoming-monster-the-struggle", "evidence": "The document presents evidence of AMR's poor positioning.", "position": 2, "confidence": 0.8, "parentBeatName": "Development", "parentBeatSlug": "development" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 44, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a red flag icon to signal the contradiction.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/44", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-44", "loopMatches": [], "arcBeatMatches": [ { "to": 50, "from": 21, "beatId": "54dab807-671b-4943-b069-356d1be04852", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Struggle", "beatSlug": "overcoming-monster-the-struggle", "evidence": "The document presents evidence of AMR's poor positioning.", "position": 2, "confidence": 0.8, "parentBeatName": "Development", "parentBeatSlug": "development" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 45, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses red boxes and arrows to draw attention to specific, conflicting data points in financial tables.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/45", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-45", "loopMatches": [], "arcBeatMatches": [ { "to": 50, "from": 21, "beatId": "54dab807-671b-4943-b069-356d1be04852", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Struggle", "beatSlug": "overcoming-monster-the-struggle", "evidence": "The document presents evidence of AMR's poor positioning.", "position": 2, "confidence": 0.8, "parentBeatName": "Development", "parentBeatSlug": "development" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 46, "slideType": "section_divider", "function": "transition", "notes": null, "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/46", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-46", "loopMatches": [], "arcBeatMatches": [ { "to": 50, "from": 21, "beatId": "54dab807-671b-4943-b069-356d1be04852", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Struggle", "beatSlug": "overcoming-monster-the-struggle", "evidence": "The document presents evidence of AMR's poor positioning.", "position": 2, "confidence": 0.8, "parentBeatName": "Development", "parentBeatSlug": "development" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 47, "slideType": "peer_benchmark", "function": "compare_peers", "notes": "The slide uses a red flag icon to highlight the aggressive accounting practice.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/47", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-47", "loopMatches": [], "arcBeatMatches": [ { "to": 50, "from": 21, "beatId": "54dab807-671b-4943-b069-356d1be04852", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Struggle", "beatSlug": "overcoming-monster-the-struggle", "evidence": "The document presents evidence of AMR's poor positioning.", "position": 2, "confidence": 0.8, "parentBeatName": "Development", "parentBeatSlug": "development" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 48, "slideType": "valuation_table", "function": "expose_contradiction", "notes": "The slide uses a red flag icon to signal a warning about the company's reported metrics.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/48", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-48", "loopMatches": [], "arcBeatMatches": [ { "to": 50, "from": 21, "beatId": "54dab807-671b-4943-b069-356d1be04852", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Struggle", "beatSlug": "overcoming-monster-the-struggle", "evidence": "The document presents evidence of AMR's poor positioning.", "position": 2, "confidence": 0.8, "parentBeatName": "Development", "parentBeatSlug": "development" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 49, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses two financial tables from SEC filings to demonstrate that intercompany eliminations are not properly reflected in segment reporting.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/49", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-49", "loopMatches": [], "arcBeatMatches": [ { "to": 50, "from": 21, "beatId": "54dab807-671b-4943-b069-356d1be04852", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Struggle", "beatSlug": "overcoming-monster-the-struggle", "evidence": "The document presents evidence of AMR's poor positioning.", "position": 2, "confidence": 0.8, "parentBeatName": "Development", "parentBeatSlug": "development" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 50, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The slide uses a 'before-after' logic to highlight accounting discrepancies in segment reporting.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/50", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-50", "loopMatches": [], "arcBeatMatches": [ { "to": 50, "from": 21, "beatId": "54dab807-671b-4943-b069-356d1be04852", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Struggle", "beatSlug": "overcoming-monster-the-struggle", "evidence": "The document presents evidence of AMR's poor positioning.", "position": 2, "confidence": 0.8, "parentBeatName": "Development", "parentBeatSlug": "development" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 51, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a 'before/after' or 'claim vs reality' structure common in activist short reports.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/51", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-51", "loopMatches": [], "arcBeatMatches": [ { "to": 105, "from": 51, "beatId": "1c6c8d3e-e53b-45f5-91da-e5c362f50fac", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The document concludes with a clear call to action and valuation analysis.", "position": 3, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 52, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The slide uses a red flag icon to signal a warning/contradiction.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/52", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-52", "loopMatches": [], "arcBeatMatches": [ { "to": 105, "from": 51, "beatId": "1c6c8d3e-e53b-45f5-91da-e5c362f50fac", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The document concludes with a clear call to action and valuation analysis.", "position": 3, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 53, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The slide uses a quote from a 10-Q to highlight the contradiction between ownership percentage and accounting treatment.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/53", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-53", "loopMatches": [], "arcBeatMatches": [ { "to": 105, "from": 51, "beatId": "1c6c8d3e-e53b-45f5-91da-e5c362f50fac", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The document concludes with a clear call to action and valuation analysis.", "position": 3, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 54, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses red flag icon and callout boxes to emphasize the discrepancy.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/54", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-54", "loopMatches": [], "arcBeatMatches": [ { "to": 105, "from": 51, "beatId": "1c6c8d3e-e53b-45f5-91da-e5c362f50fac", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The document concludes with a clear call to action and valuation analysis.", "position": 3, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 55, "slideType": "appendix_disclosure", "function": "expose_contradiction", "notes": "The slide sets up a comparison to be analyzed on the following slide, specifically pointing out the lack of clarity in Arch's reporting.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/55", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-55", "loopMatches": [], "arcBeatMatches": [ { "to": 105, "from": 51, "beatId": "1c6c8d3e-e53b-45f5-91da-e5c362f50fac", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The document concludes with a clear call to action and valuation analysis.", "position": 3, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 56, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The slide uses a red box to highlight the discrepancy between the 65% ownership and the 60% total equity loss recognized.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/56", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-56", "loopMatches": [], "arcBeatMatches": [ { "to": 105, "from": 51, "beatId": "1c6c8d3e-e53b-45f5-91da-e5c362f50fac", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The document concludes with a clear call to action and valuation analysis.", "position": 3, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 57, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The slide uses a direct quote from a legal complaint to undermine the target company's narrative.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/57", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-57", "loopMatches": [], "arcBeatMatches": [ { "to": 105, "from": 51, "beatId": "1c6c8d3e-e53b-45f5-91da-e5c362f50fac", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The document concludes with a clear call to action and valuation analysis.", "position": 3, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 58, "slideType": "thesis_headline", "function": "frame_problem", "notes": "The slide uses a Spruce Point Capital Management logo (the tree) as a visual anchor.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/58", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-58", "loopMatches": [], "arcBeatMatches": [ { "to": 105, "from": 51, "beatId": "1c6c8d3e-e53b-45f5-91da-e5c362f50fac", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The document concludes with a clear call to action and valuation analysis.", "position": 3, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 59, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a map to visualize cost differentials between coal regions and export ports.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/59", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-59", "loopMatches": [], "arcBeatMatches": [ { "to": 105, "from": 51, "beatId": "1c6c8d3e-e53b-45f5-91da-e5c362f50fac", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The document concludes with a clear call to action and valuation analysis.", "position": 3, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 60, "slideType": "peer_benchmark", "function": "compare_peers", "notes": "The slide highlights the discrepancy between AMR's high freight costs and its peers, despite similar export profiles.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/60", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-60", "loopMatches": [], "arcBeatMatches": [ { "to": 105, "from": 51, "beatId": "1c6c8d3e-e53b-45f5-91da-e5c362f50fac", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The document concludes with a clear call to action and valuation analysis.", "position": 3, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 61, "slideType": "comparison_table", "function": "expose_contradiction", "notes": "The slide uses color-coded cells (red) in the final table to emphasize the dramatic increase in freight costs per ton for Contura Energy/AMR starting in 2017.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/61", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-61", "loopMatches": [], "arcBeatMatches": [ { "to": 105, "from": 51, "beatId": "1c6c8d3e-e53b-45f5-91da-e5c362f50fac", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The document concludes with a clear call to action and valuation analysis.", "position": 3, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 62, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The slide uses a table to contrast 2016 and 2017 metrics, highlighting the cost per ton jump from $2.63 to $15.80.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/62", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-62", "loopMatches": [], "arcBeatMatches": [ { "to": 105, "from": 51, "beatId": "1c6c8d3e-e53b-45f5-91da-e5c362f50fac", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The document concludes with a clear call to action and valuation analysis.", "position": 3, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 63, "slideType": "peer_benchmark", "function": "compare_peers", "notes": "The slide uses a red border around the AMR column to visually emphasize the outlier status.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/63", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-63", "loopMatches": [], "arcBeatMatches": [ { "to": 105, "from": 51, "beatId": "1c6c8d3e-e53b-45f5-91da-e5c362f50fac", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The document concludes with a clear call to action and valuation analysis.", "position": 3, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 64, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a red flag icon and red box to highlight the contradiction between company claims and actual safety data.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/64", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-64", "loopMatches": [], "arcBeatMatches": [ { "to": 105, "from": 51, "beatId": "1c6c8d3e-e53b-45f5-91da-e5c362f50fac", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The document concludes with a clear call to action and valuation analysis.", "position": 3, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 65, "slideType": "villain_critique", "function": "name_villain", "notes": "The slide uses a red flag icon and a red arrow to draw attention to the negative performance of the target company.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/65", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-65", "loopMatches": [], "arcBeatMatches": [ { "to": 105, "from": 51, "beatId": "1c6c8d3e-e53b-45f5-91da-e5c362f50fac", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The document concludes with a clear call to action and valuation analysis.", "position": 3, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 66, "slideType": "peer_benchmark", "function": "expose_contradiction", "notes": "The slide uses color-coding (yellow/red) to highlight deteriorating metrics in the table.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/66", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-66", "loopMatches": [], "arcBeatMatches": [ { "to": 105, "from": 51, "beatId": "1c6c8d3e-e53b-45f5-91da-e5c362f50fac", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The document concludes with a clear call to action and valuation analysis.", "position": 3, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 67, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The slide uses red highlighting to draw attention to the 2021 anomalies in cash interest and effective interest rate.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/67", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-67", "loopMatches": [], "arcBeatMatches": [ { "to": 105, "from": 51, "beatId": "1c6c8d3e-e53b-45f5-91da-e5c362f50fac", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The document concludes with a clear call to action and valuation analysis.", "position": 3, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 68, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a red flag icon and red boxes to highlight the discrepancy in financial reporting.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/68", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-68", "loopMatches": [], "arcBeatMatches": [ { "to": 105, "from": 51, "beatId": "1c6c8d3e-e53b-45f5-91da-e5c362f50fac", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The document concludes with a clear call to action and valuation analysis.", "position": 3, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 69, "slideType": "valuation_table", "function": "quantify_opportunity", "notes": "The slide uses a sensitivity analysis approach to estimate debt levels.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/69", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-69", "loopMatches": [], "arcBeatMatches": [ { "to": 105, "from": 51, "beatId": "1c6c8d3e-e53b-45f5-91da-e5c362f50fac", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The document concludes with a clear call to action and valuation analysis.", "position": 3, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 70, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The slide uses a red flag icon and red boxes to highlight low effective savings rates and increasing restricted assets.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/70", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-70", "loopMatches": [], "arcBeatMatches": [ { "to": 105, "from": 51, "beatId": "1c6c8d3e-e53b-45f5-91da-e5c362f50fac", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The document concludes with a clear call to action and valuation analysis.", "position": 3, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 71, "slideType": "peer_benchmark", "function": "compare_peers", "notes": "The slide highlights AMR's significantly higher restricted cash levels compared to its peers.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/71", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-71", "loopMatches": [], "arcBeatMatches": [ { "to": 105, "from": 51, "beatId": "1c6c8d3e-e53b-45f5-91da-e5c362f50fac", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The document concludes with a clear call to action and valuation analysis.", "position": 3, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 72, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The slide highlights a red flag in financial disclosures, suggesting either riskier equipment or a deteriorating credit profile.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/72", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-72", "loopMatches": [], "arcBeatMatches": [ { "to": 105, "from": 51, "beatId": "1c6c8d3e-e53b-45f5-91da-e5c362f50fac", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The document concludes with a clear call to action and valuation analysis.", "position": 3, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 73, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The slide highlights specific rows in the financial tables using red boxes to draw attention to the $23.84m repurchase and $3.03m warrant inflow.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/73", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-73", "loopMatches": [], "arcBeatMatches": [ { "to": 105, "from": 51, "beatId": "1c6c8d3e-e53b-45f5-91da-e5c362f50fac", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The document concludes with a clear call to action and valuation analysis.", "position": 3, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 74, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The slide uses a red box to highlight specific line items in the cash flow statement and red arrows to connect them to a critical question and explanatory text.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/74", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-74", "loopMatches": [], "arcBeatMatches": [ { "to": 105, "from": 51, "beatId": "1c6c8d3e-e53b-45f5-91da-e5c362f50fac", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The document concludes with a clear call to action and valuation analysis.", "position": 3, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 75, "slideType": "thesis_headline", "function": "frame_problem", "notes": "This slide serves as a section divider or thesis statement for an activist presentation.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/75", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-75", "loopMatches": [], "arcBeatMatches": [ { "to": 105, "from": 51, "beatId": "1c6c8d3e-e53b-45f5-91da-e5c362f50fac", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The document concludes with a clear call to action and valuation analysis.", "position": 3, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 76, "slideType": "valuation_table", "function": "expose_contradiction", "notes": "The slide uses a red-box callout to highlight the discrepancy between reported and adjusted cash flow figures.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/76", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-76", "loopMatches": [], "arcBeatMatches": [ { "to": 105, "from": 51, "beatId": "1c6c8d3e-e53b-45f5-91da-e5c362f50fac", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The document concludes with a clear call to action and valuation analysis.", "position": 3, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 77, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The slide uses a red callout box to highlight the core thesis and red lines to point to the specific accounting differences in the tables.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/77", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-77", "loopMatches": [], "arcBeatMatches": [ { "to": 105, "from": 51, "beatId": "1c6c8d3e-e53b-45f5-91da-e5c362f50fac", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The document concludes with a clear call to action and valuation analysis.", "position": 3, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 78, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The slide uses a red flag icon to draw attention to the core argument.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/78", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-78", "loopMatches": [], "arcBeatMatches": [ { "to": 105, "from": 51, "beatId": "1c6c8d3e-e53b-45f5-91da-e5c362f50fac", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The document concludes with a clear call to action and valuation analysis.", "position": 3, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 79, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a red flag icon to highlight the core thesis of the slide.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/79", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-79", "loopMatches": [], "arcBeatMatches": [ { "to": 105, "from": 51, "beatId": "1c6c8d3e-e53b-45f5-91da-e5c362f50fac", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The document concludes with a clear call to action and valuation analysis.", "position": 3, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 80, "slideType": "peer_benchmark", "function": "compare_peers", "notes": "The slide uses a red flag icon to highlight the aggressive nature of the tax refunds.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/80", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-80", "loopMatches": [], "arcBeatMatches": [ { "to": 105, "from": 51, "beatId": "1c6c8d3e-e53b-45f5-91da-e5c362f50fac", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The document concludes with a clear call to action and valuation analysis.", "position": 3, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 81, "slideType": "peer_benchmark", "function": "compare_peers", "notes": "The slide uses a red flag icon to draw attention to the negative finding.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/81", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-81", "loopMatches": [], "arcBeatMatches": [ { "to": 105, "from": 51, "beatId": "1c6c8d3e-e53b-45f5-91da-e5c362f50fac", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The document concludes with a clear call to action and valuation analysis.", "position": 3, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 82, "slideType": "section_divider", "function": "transition", "notes": null, "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/82", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-82", "loopMatches": [], "arcBeatMatches": [ { "to": 105, "from": 51, "beatId": "1c6c8d3e-e53b-45f5-91da-e5c362f50fac", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The document concludes with a clear call to action and valuation analysis.", "position": 3, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 83, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Includes a table of environmental compliance violations for DTA asset.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/83", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-83", "loopMatches": [], "arcBeatMatches": [ { "to": 105, "from": 51, "beatId": "1c6c8d3e-e53b-45f5-91da-e5c362f50fac", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The document concludes with a clear call to action and valuation analysis.", "position": 3, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 84, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The table highlights that AMR is the only company in the peer group using NFDL for safety bonuses.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/84", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-84", "loopMatches": [], "arcBeatMatches": [ { "to": 105, "from": 51, "beatId": "1c6c8d3e-e53b-45f5-91da-e5c362f50fac", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The document concludes with a clear call to action and valuation analysis.", "position": 3, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 85, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a red flag icon and red underline to emphasize the conflict of interest.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/85", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-85", "loopMatches": [], "arcBeatMatches": [ { "to": 105, "from": 51, "beatId": "1c6c8d3e-e53b-45f5-91da-e5c362f50fac", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The document concludes with a clear call to action and valuation analysis.", "position": 3, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 86, "slideType": "timeline", "function": "expose_contradiction", "notes": "The slide uses a red box to highlight the transition period and subsequent events, framing them as suspicious.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/86", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-86", "loopMatches": [], "arcBeatMatches": [ { "to": 105, "from": 51, "beatId": "1c6c8d3e-e53b-45f5-91da-e5c362f50fac", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The document concludes with a clear call to action and valuation analysis.", "position": 3, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 87, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a red flag icon to signal warning/risk.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/87", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-87", "loopMatches": [], "arcBeatMatches": [ { "to": 105, "from": 51, "beatId": "1c6c8d3e-e53b-45f5-91da-e5c362f50fac", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The document concludes with a clear call to action and valuation analysis.", "position": 3, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 88, "slideType": "section_divider", "function": "transition", "notes": null, "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/88", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-88", "loopMatches": [ { "to": 98, "from": 88, "name": "Cost Of Inaction", "slug": "27-cost-of-inaction", "bestFor": "Urgent budget requests, compliance, risk mitigation", "matchId": "022842b5-fad5-40a6-9cc8-993e227a02f6", "evidence": "The document presents a clear valuation analysis and call to action.", "position": 1, "objective": "Highlight the cost of inaction for investors", "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point", "confidence": 0.7, "description": "Quantify what happens if the audience does nothing" } ], "arcBeatMatches": [ { "to": 105, "from": 51, "beatId": "1c6c8d3e-e53b-45f5-91da-e5c362f50fac", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The document concludes with a clear call to action and valuation analysis.", "position": 3, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 89, "slideType": "ceo_quote", "function": "expose_contradiction", "notes": "Uses a red flag icon to signal a warning about management's claims.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/89", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-89", "loopMatches": [ { "to": 98, "from": 88, "name": "Cost Of Inaction", "slug": "27-cost-of-inaction", "bestFor": "Urgent budget requests, compliance, risk mitigation", "matchId": "022842b5-fad5-40a6-9cc8-993e227a02f6", "evidence": "The document presents a clear valuation analysis and call to action.", "position": 1, "objective": "Highlight the cost of inaction for investors", "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point", "confidence": 0.7, "description": "Quantify what happens if the audience does nothing" } ], "arcBeatMatches": [ { "to": 105, "from": 51, "beatId": "1c6c8d3e-e53b-45f5-91da-e5c362f50fac", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The document concludes with a clear call to action and valuation analysis.", "position": 3, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 90, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a combination of a table for insider activity and a line chart with annotations to highlight historical parallels.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/90", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-90", "loopMatches": [ { "to": 98, "from": 88, "name": "Cost Of Inaction", "slug": "27-cost-of-inaction", "bestFor": "Urgent budget requests, compliance, risk mitigation", "matchId": "022842b5-fad5-40a6-9cc8-993e227a02f6", "evidence": "The document presents a clear valuation analysis and call to action.", "position": 1, "objective": "Highlight the cost of inaction for investors", "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point", "confidence": 0.7, "description": "Quantify what happens if the audience does nothing" } ], "arcBeatMatches": [ { "to": 105, "from": 51, "beatId": "1c6c8d3e-e53b-45f5-91da-e5c362f50fac", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The document concludes with a clear call to action and valuation analysis.", "position": 3, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 91, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The slide uses a red box to highlight the 'Total Undisclosed Sales Proceeds' column, emphasizing the lack of transparency.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/91", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-91", "loopMatches": [ { "to": 98, "from": 88, "name": "Cost Of Inaction", "slug": "27-cost-of-inaction", "bestFor": "Urgent budget requests, compliance, risk mitigation", "matchId": "022842b5-fad5-40a6-9cc8-993e227a02f6", "evidence": "The document presents a clear valuation analysis and call to action.", "position": 1, "objective": "Highlight the cost of inaction for investors", "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point", "confidence": 0.7, "description": "Quantify what happens if the audience does nothing" } ], "arcBeatMatches": [ { "to": 105, "from": 51, "beatId": "1c6c8d3e-e53b-45f5-91da-e5c362f50fac", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The document concludes with a clear call to action and valuation analysis.", "position": 3, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 92, "slideType": "valuation_table", "function": "quantify_opportunity", "notes": "The slide uses a 'red flag' icon to signal an activist critique of the company's financial reporting.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/92", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-92", "loopMatches": [ { "to": 98, "from": 88, "name": "Cost Of Inaction", "slug": "27-cost-of-inaction", "bestFor": "Urgent budget requests, compliance, risk mitigation", "matchId": "022842b5-fad5-40a6-9cc8-993e227a02f6", "evidence": "The document presents a clear valuation analysis and call to action.", "position": 1, "objective": "Highlight the cost of inaction for investors", "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point", "confidence": 0.7, "description": "Quantify what happens if the audience does nothing" } ], "arcBeatMatches": [ { "to": 105, "from": 51, "beatId": "1c6c8d3e-e53b-45f5-91da-e5c362f50fac", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The document concludes with a clear call to action and valuation analysis.", "position": 3, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 93, "slideType": "valuation_table", "function": "expose_contradiction", "notes": "The slide uses a 'Spruce Point Adjusted Reality' column to contrast with company-reported figures.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/93", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-93", "loopMatches": [ { "to": 98, "from": 88, "name": "Cost Of Inaction", "slug": "27-cost-of-inaction", "bestFor": "Urgent budget requests, compliance, risk mitigation", "matchId": "022842b5-fad5-40a6-9cc8-993e227a02f6", "evidence": "The document presents a clear valuation analysis and call to action.", "position": 1, "objective": "Highlight the cost of inaction for investors", "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point", "confidence": 0.7, "description": "Quantify what happens if the audience does nothing" } ], "arcBeatMatches": [ { "to": 105, "from": 51, "beatId": "1c6c8d3e-e53b-45f5-91da-e5c362f50fac", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The document concludes with a clear call to action and valuation analysis.", "position": 3, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 94, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a red flag icon to signal a warning or point of interest.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/94", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-94", "loopMatches": [ { "to": 98, "from": 88, "name": "Cost Of Inaction", "slug": "27-cost-of-inaction", "bestFor": "Urgent budget requests, compliance, risk mitigation", "matchId": "022842b5-fad5-40a6-9cc8-993e227a02f6", "evidence": "The document presents a clear valuation analysis and call to action.", "position": 1, "objective": "Highlight the cost of inaction for investors", "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point", "confidence": 0.7, "description": "Quantify what happens if the audience does nothing" } ], "arcBeatMatches": [ { "to": 105, "from": 51, "beatId": "1c6c8d3e-e53b-45f5-91da-e5c362f50fac", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The document concludes with a clear call to action and valuation analysis.", "position": 3, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 95, "slideType": "key_messages", "function": "analyze_data", "notes": "The slide uses a combination of tables and callout boxes to present market intelligence on coal import trends.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/95", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-95", "loopMatches": [ { "to": 98, "from": 88, "name": "Cost Of Inaction", "slug": "27-cost-of-inaction", "bestFor": "Urgent budget requests, compliance, risk mitigation", "matchId": "022842b5-fad5-40a6-9cc8-993e227a02f6", "evidence": "The document presents a clear valuation analysis and call to action.", "position": 1, "objective": "Highlight the cost of inaction for investors", "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point", "confidence": 0.7, "description": "Quantify what happens if the audience does nothing" } ], "arcBeatMatches": [ { "to": 105, "from": 51, "beatId": "1c6c8d3e-e53b-45f5-91da-e5c362f50fac", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The document concludes with a clear call to action and valuation analysis.", "position": 3, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 96, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a combination of management quotes and internal data tables to derive a revenue estimate that challenges the sustainability of the revenue stream.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/96", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-96", "loopMatches": [ { "to": 98, "from": 88, "name": "Cost Of Inaction", "slug": "27-cost-of-inaction", "bestFor": "Urgent budget requests, compliance, risk mitigation", "matchId": "022842b5-fad5-40a6-9cc8-993e227a02f6", "evidence": "The document presents a clear valuation analysis and call to action.", "position": 1, "objective": "Highlight the cost of inaction for investors", "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point", "confidence": 0.7, "description": "Quantify what happens if the audience does nothing" } ], "arcBeatMatches": [ { "to": 105, "from": 51, "beatId": "1c6c8d3e-e53b-45f5-91da-e5c362f50fac", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The document concludes with a clear call to action and valuation analysis.", "position": 3, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 97, "slideType": "peer_benchmark", "function": "compare_peers", "notes": "The slide highlights AMR's valuation multiples (EV/Sales and EV/EBITDA) in red boxes to emphasize they are higher than the peer group average.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/97", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-97", "loopMatches": [ { "to": 98, "from": 88, "name": "Cost Of Inaction", "slug": "27-cost-of-inaction", "bestFor": "Urgent budget requests, compliance, risk mitigation", "matchId": "022842b5-fad5-40a6-9cc8-993e227a02f6", "evidence": "The document presents a clear valuation analysis and call to action.", "position": 1, "objective": "Highlight the cost of inaction for investors", "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point", "confidence": 0.7, "description": "Quantify what happens if the audience does nothing" } ], "arcBeatMatches": [ { "to": 105, "from": 51, "beatId": "1c6c8d3e-e53b-45f5-91da-e5c362f50fac", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The document concludes with a clear call to action and valuation analysis.", "position": 3, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 98, "slideType": "valuation_table", "function": "show_valuation_bridge", "notes": "The slide uses a red flag icon to emphasize the activist stance on financial reporting quality.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/98", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-98", "loopMatches": [ { "to": 98, "from": 88, "name": "Cost Of Inaction", "slug": "27-cost-of-inaction", "bestFor": "Urgent budget requests, compliance, risk mitigation", "matchId": "022842b5-fad5-40a6-9cc8-993e227a02f6", "evidence": "The document presents a clear valuation analysis and call to action.", "position": 1, "objective": "Highlight the cost of inaction for investors", "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point", "confidence": 0.7, "description": "Quantify what happens if the audience does nothing" } ], "arcBeatMatches": [ { "to": 105, "from": 51, "beatId": "1c6c8d3e-e53b-45f5-91da-e5c362f50fac", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The document concludes with a clear call to action and valuation analysis.", "position": 3, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 99, "slideType": "appendix", "function": "appendix", "notes": null, "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/99", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-99", "loopMatches": [], "arcBeatMatches": [ { "to": 105, "from": 51, "beatId": "1c6c8d3e-e53b-45f5-91da-e5c362f50fac", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The document concludes with a clear call to action and valuation analysis.", "position": 3, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 100, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The slide uses a red arrow to connect the calculated 'Implied Sales' in the left table to the 'C. Andrew Eidson' row in the right table, visually demonstrating the discrepancy.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/100", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-100", "loopMatches": [], "arcBeatMatches": [ { "to": 105, "from": 51, "beatId": "1c6c8d3e-e53b-45f5-91da-e5c362f50fac", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The document concludes with a clear call to action and valuation analysis.", "position": 3, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b99-374c176318da", "docSlug": "4a47ec40bed5", "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-05-17 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 101, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a red line to visually connect the 'Implied Sales' calculation to the specific row in the Proxy Statement table.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b99-374c176318da/101", "deckHref": "/decks/019dd923-622c-750b-8b99-374c176318da", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-374c176318da#slide-101", "loopMatches": [], "arcBeatMatches": [ { "to": 105, "from": 51, "beatId": "1c6c8d3e-e53b-45f5-91da-e5c362f50fac", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The document concludes with a clear call to action and valuation analysis.", "position": 3, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true } ] }