{
  "kind": "all",
  "value": "all",
  "collectionKey": "slides:all:all:all-document-kinds:all-producers:all-orientations",
  "filters": {
    "documentKinds": [],
    "sourceTypes": [],
    "orientations": []
  },
  "total": 319975,
  "page": 2230,
  "pageSize": 60,
  "pageCount": 5333,
  "rows": [
    {
      "docId": "019dd923-622c-750b-8b9b-41a495222153",
      "docSlug": "b442fc01b34f",
      "documentTitle": "Corrections Corporation of America (CXW)",
      "authorId": "01_Pershing_Square",
      "authorName": "William Ackman",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-20 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 19,
      "slideType": "kpi_overview",
      "function": "analyze_data",
      "notes": "The slide uses a table to quantify available capacity as a driver for future EBITDA.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-41a495222153/19",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-41a495222153",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-41a495222153#slide-19",
      "loopMatches": [
        {
          "to": 21,
          "from": 19,
          "name": "Quick Win Big Bet",
          "slug": "47-quick-win-big-bet",
          "bestFor": "Transformation planning, 100-day plans, resource allocation",
          "matchId": "1156c465-53d0-4d66-b14f-b4a5f9a1d993",
          "evidence": "The presentation discusses near-term catalysts, including operating leverage and stock buyback.",
          "position": 1,
          "objective": "Near-term catalysts for growth",
          "structure": "The Full List -> Quick Wins (Low effort, High impact) -> Big Bets (High effort, High impact) -> Sequenced Roadmap",
          "confidence": 0.6,
          "description": "Separate initiatives into immediate wins and longer-term strategic bets"
        }
      ],
      "arcBeatMatches": [
        {
          "to": 23,
          "from": 17,
          "beatId": "5239c878-9c0a-42b1-811f-a5424f049899",
          "arcName": "Rags to Riches",
          "arcSlug": "rags-to-riches",
          "beatName": "The Breakthrough",
          "beatSlug": "rags-to-riches-the-breakthrough",
          "evidence": "The presentation discusses the company's strong free cash flow generation, balance sheet, and high returns on capital.",
          "position": 2,
          "confidence": 0.8,
          "parentBeatName": "Turn",
          "parentBeatSlug": "turn"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-41a495222153",
      "docSlug": "b442fc01b34f",
      "documentTitle": "Corrections Corporation of America (CXW)",
      "authorId": "01_Pershing_Square",
      "authorName": "William Ackman",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-20 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 20,
      "slideType": "revenue_buildup",
      "function": "quantify_opportunity",
      "notes": "The slide contrasts management's conservative $100mm estimate with a theoretical $230mm contribution margin, concluding the actual value lies between them.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-41a495222153/20",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-41a495222153",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-41a495222153#slide-20",
      "loopMatches": [
        {
          "to": 21,
          "from": 19,
          "name": "Quick Win Big Bet",
          "slug": "47-quick-win-big-bet",
          "bestFor": "Transformation planning, 100-day plans, resource allocation",
          "matchId": "1156c465-53d0-4d66-b14f-b4a5f9a1d993",
          "evidence": "The presentation discusses near-term catalysts, including operating leverage and stock buyback.",
          "position": 1,
          "objective": "Near-term catalysts for growth",
          "structure": "The Full List -> Quick Wins (Low effort, High impact) -> Big Bets (High effort, High impact) -> Sequenced Roadmap",
          "confidence": 0.6,
          "description": "Separate initiatives into immediate wins and longer-term strategic bets"
        }
      ],
      "arcBeatMatches": [
        {
          "to": 23,
          "from": 17,
          "beatId": "5239c878-9c0a-42b1-811f-a5424f049899",
          "arcName": "Rags to Riches",
          "arcSlug": "rags-to-riches",
          "beatName": "The Breakthrough",
          "beatSlug": "rags-to-riches-the-breakthrough",
          "evidence": "The presentation discusses the company's strong free cash flow generation, balance sheet, and high returns on capital.",
          "position": 2,
          "confidence": 0.8,
          "parentBeatName": "Turn",
          "parentBeatSlug": "turn"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-41a495222153",
      "docSlug": "b442fc01b34f",
      "documentTitle": "Corrections Corporation of America (CXW)",
      "authorId": "01_Pershing_Square",
      "authorName": "William Ackman",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-20 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 21,
      "slideType": "valuation_table",
      "function": "analyze_data",
      "notes": "The slide highlights the impact of a $125M share buyback program on share count reduction.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-41a495222153/21",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-41a495222153",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-41a495222153#slide-21",
      "loopMatches": [
        {
          "to": 21,
          "from": 19,
          "name": "Quick Win Big Bet",
          "slug": "47-quick-win-big-bet",
          "bestFor": "Transformation planning, 100-day plans, resource allocation",
          "matchId": "1156c465-53d0-4d66-b14f-b4a5f9a1d993",
          "evidence": "The presentation discusses near-term catalysts, including operating leverage and stock buyback.",
          "position": 1,
          "objective": "Near-term catalysts for growth",
          "structure": "The Full List -> Quick Wins (Low effort, High impact) -> Big Bets (High effort, High impact) -> Sequenced Roadmap",
          "confidence": 0.6,
          "description": "Separate initiatives into immediate wins and longer-term strategic bets"
        }
      ],
      "arcBeatMatches": [
        {
          "to": 23,
          "from": 17,
          "beatId": "5239c878-9c0a-42b1-811f-a5424f049899",
          "arcName": "Rags to Riches",
          "arcSlug": "rags-to-riches",
          "beatName": "The Breakthrough",
          "beatSlug": "rags-to-riches-the-breakthrough",
          "evidence": "The presentation discusses the company's strong free cash flow generation, balance sheet, and high returns on capital.",
          "position": 2,
          "confidence": 0.8,
          "parentBeatName": "Turn",
          "parentBeatSlug": "turn"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-41a495222153",
      "docSlug": "b442fc01b34f",
      "documentTitle": "Corrections Corporation of America (CXW)",
      "authorId": "01_Pershing_Square",
      "authorName": "William Ackman",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-20 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 22,
      "slideType": "kpi_overview",
      "function": "analyze_data",
      "notes": "The slide explains the structural reason for the divergence between EPS and FCFPS in the prison industry.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-41a495222153/22",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-41a495222153",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-41a495222153#slide-22",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 23,
          "from": 17,
          "beatId": "5239c878-9c0a-42b1-811f-a5424f049899",
          "arcName": "Rags to Riches",
          "arcSlug": "rags-to-riches",
          "beatName": "The Breakthrough",
          "beatSlug": "rags-to-riches-the-breakthrough",
          "evidence": "The presentation discusses the company's strong free cash flow generation, balance sheet, and high returns on capital.",
          "position": 2,
          "confidence": 0.8,
          "parentBeatName": "Turn",
          "parentBeatSlug": "turn"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-41a495222153",
      "docSlug": "b442fc01b34f",
      "documentTitle": "Corrections Corporation of America (CXW)",
      "authorId": "01_Pershing_Square",
      "authorName": "William Ackman",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-20 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 23,
      "slideType": "kpi_overview",
      "function": "analyze_data",
      "notes": "The chart shows debt maturity schedule as of July 31, 2009.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-41a495222153/23",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-41a495222153",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-41a495222153#slide-23",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 23,
          "from": 17,
          "beatId": "5239c878-9c0a-42b1-811f-a5424f049899",
          "arcName": "Rags to Riches",
          "arcSlug": "rags-to-riches",
          "beatName": "The Breakthrough",
          "beatSlug": "rags-to-riches-the-breakthrough",
          "evidence": "The presentation discusses the company's strong free cash flow generation, balance sheet, and high returns on capital.",
          "position": 2,
          "confidence": 0.8,
          "parentBeatName": "Turn",
          "parentBeatSlug": "turn"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-41a495222153",
      "docSlug": "b442fc01b34f",
      "documentTitle": "Corrections Corporation of America (CXW)",
      "authorId": "01_Pershing_Square",
      "authorName": "William Ackman",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-20 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 24,
      "slideType": "kpi_overview",
      "function": "analyze_data",
      "notes": "The chart defines ROCE as (Operating Income + Depreciation & Amortization - Maintenance and IT Cap-ex) / (average assets - average current liabilities).",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-41a495222153/24",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-41a495222153",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-41a495222153#slide-24",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 40,
          "from": 24,
          "beatId": "8204b701-6e31-4162-a39f-402d5a721e7f",
          "arcName": "Rags to Riches",
          "arcSlug": "rags-to-riches",
          "beatName": "Ultimate Achievement",
          "beatSlug": "rags-to-riches-ultimate-achievement",
          "evidence": "The presentation concludes with a valuation of the company and an opportunity for multiple expansion.",
          "position": 3,
          "confidence": 0.8,
          "parentBeatName": "Resolution",
          "parentBeatSlug": "resolution"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-41a495222153",
      "docSlug": "b442fc01b34f",
      "documentTitle": "Corrections Corporation of America (CXW)",
      "authorId": "01_Pershing_Square",
      "authorName": "William Ackman",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-20 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 25,
      "slideType": "appendix_data",
      "function": "analyze_data",
      "notes": "The table lists individual holdings and a group total, with footnotes explaining the basis of ownership and calculation.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-41a495222153/25",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-41a495222153",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-41a495222153#slide-25",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 40,
          "from": 24,
          "beatId": "8204b701-6e31-4162-a39f-402d5a721e7f",
          "arcName": "Rags to Riches",
          "arcSlug": "rags-to-riches",
          "beatName": "Ultimate Achievement",
          "beatSlug": "rags-to-riches-ultimate-achievement",
          "evidence": "The presentation concludes with a valuation of the company and an opportunity for multiple expansion.",
          "position": 3,
          "confidence": 0.8,
          "parentBeatName": "Resolution",
          "parentBeatSlug": "resolution"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-41a495222153",
      "docSlug": "b442fc01b34f",
      "documentTitle": "Corrections Corporation of America (CXW)",
      "authorId": "01_Pershing_Square",
      "authorName": "William Ackman",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-20 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 26,
      "slideType": "section_divider",
      "function": "transition",
      "notes": null,
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-41a495222153/26",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-41a495222153",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-41a495222153#slide-26",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 40,
          "from": 24,
          "beatId": "8204b701-6e31-4162-a39f-402d5a721e7f",
          "arcName": "Rags to Riches",
          "arcSlug": "rags-to-riches",
          "beatName": "Ultimate Achievement",
          "beatSlug": "rags-to-riches-ultimate-achievement",
          "evidence": "The presentation concludes with a valuation of the company and an opportunity for multiple expansion.",
          "position": 3,
          "confidence": 0.8,
          "parentBeatName": "Resolution",
          "parentBeatSlug": "resolution"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-41a495222153",
      "docSlug": "b442fc01b34f",
      "documentTitle": "Corrections Corporation of America (CXW)",
      "authorId": "01_Pershing_Square",
      "authorName": "William Ackman",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-20 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 27,
      "slideType": "valuation_table",
      "function": "analyze_data",
      "notes": "The slide uses a standard financial model layout for valuation analysis.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-41a495222153/27",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-41a495222153",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-41a495222153#slide-27",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 40,
          "from": 24,
          "beatId": "8204b701-6e31-4162-a39f-402d5a721e7f",
          "arcName": "Rags to Riches",
          "arcSlug": "rags-to-riches",
          "beatName": "Ultimate Achievement",
          "beatSlug": "rags-to-riches-ultimate-achievement",
          "evidence": "The presentation concludes with a valuation of the company and an opportunity for multiple expansion.",
          "position": 3,
          "confidence": 0.8,
          "parentBeatName": "Resolution",
          "parentBeatSlug": "resolution"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-41a495222153",
      "docSlug": "b442fc01b34f",
      "documentTitle": "Corrections Corporation of America (CXW)",
      "authorId": "01_Pershing_Square",
      "authorName": "William Ackman",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-20 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 28,
      "slideType": "other",
      "function": "analyze_data",
      "notes": "The chart tracks two metrics over time with a secondary table providing context on operational scale (beds) and capital structure (shares).",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-41a495222153/28",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-41a495222153",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-41a495222153#slide-28",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 40,
          "from": 24,
          "beatId": "8204b701-6e31-4162-a39f-402d5a721e7f",
          "arcName": "Rags to Riches",
          "arcSlug": "rags-to-riches",
          "beatName": "Ultimate Achievement",
          "beatSlug": "rags-to-riches-ultimate-achievement",
          "evidence": "The presentation concludes with a valuation of the company and an opportunity for multiple expansion.",
          "position": 3,
          "confidence": 0.8,
          "parentBeatName": "Resolution",
          "parentBeatSlug": "resolution"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-41a495222153",
      "docSlug": "b442fc01b34f",
      "documentTitle": "Corrections Corporation of America (CXW)",
      "authorId": "01_Pershing_Square",
      "authorName": "William Ackman",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-20 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 29,
      "slideType": "valuation_reveal",
      "function": "show_valuation_bridge",
      "notes": "The slide argues that the current multiple (9.8x) is undervalued relative to the historical pre-Lehman average (11.5x) given the improved earnings quality.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-41a495222153/29",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-41a495222153",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-41a495222153#slide-29",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 40,
          "from": 24,
          "beatId": "8204b701-6e31-4162-a39f-402d5a721e7f",
          "arcName": "Rags to Riches",
          "arcSlug": "rags-to-riches",
          "beatName": "Ultimate Achievement",
          "beatSlug": "rags-to-riches-ultimate-achievement",
          "evidence": "The presentation concludes with a valuation of the company and an opportunity for multiple expansion.",
          "position": 3,
          "confidence": 0.8,
          "parentBeatName": "Resolution",
          "parentBeatSlug": "resolution"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-41a495222153",
      "docSlug": "b442fc01b34f",
      "documentTitle": "Corrections Corporation of America (CXW)",
      "authorId": "01_Pershing_Square",
      "authorName": "William Ackman",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-20 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 30,
      "slideType": "key_messages",
      "function": "summarize",
      "notes": null,
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-41a495222153/30",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-41a495222153",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-41a495222153#slide-30",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 40,
          "from": 24,
          "beatId": "8204b701-6e31-4162-a39f-402d5a721e7f",
          "arcName": "Rags to Riches",
          "arcSlug": "rags-to-riches",
          "beatName": "Ultimate Achievement",
          "beatSlug": "rags-to-riches-ultimate-achievement",
          "evidence": "The presentation concludes with a valuation of the company and an opportunity for multiple expansion.",
          "position": 3,
          "confidence": 0.8,
          "parentBeatName": "Resolution",
          "parentBeatSlug": "resolution"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-41a495222153",
      "docSlug": "b442fc01b34f",
      "documentTitle": "Corrections Corporation of America (CXW)",
      "authorId": "01_Pershing_Square",
      "authorName": "William Ackman",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-20 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 31,
      "slideType": "comparison_table",
      "function": "compare_peers",
      "notes": "The table compares CCA against a benchmark of typical Health Care REITs across seven key metrics.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-41a495222153/31",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-41a495222153",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-41a495222153#slide-31",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 40,
          "from": 24,
          "beatId": "8204b701-6e31-4162-a39f-402d5a721e7f",
          "arcName": "Rags to Riches",
          "arcSlug": "rags-to-riches",
          "beatName": "Ultimate Achievement",
          "beatSlug": "rags-to-riches-ultimate-achievement",
          "evidence": "The presentation concludes with a valuation of the company and an opportunity for multiple expansion.",
          "position": 3,
          "confidence": 0.8,
          "parentBeatName": "Resolution",
          "parentBeatSlug": "resolution"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-41a495222153",
      "docSlug": "b442fc01b34f",
      "documentTitle": "Corrections Corporation of America (CXW)",
      "authorId": "01_Pershing_Square",
      "authorName": "William Ackman",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-20 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 32,
      "slideType": "valuation_table",
      "function": "show_valuation_bridge",
      "notes": "Page number 31.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-41a495222153/32",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-41a495222153",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-41a495222153#slide-32",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 40,
          "from": 24,
          "beatId": "8204b701-6e31-4162-a39f-402d5a721e7f",
          "arcName": "Rags to Riches",
          "arcSlug": "rags-to-riches",
          "beatName": "Ultimate Achievement",
          "beatSlug": "rags-to-riches-ultimate-achievement",
          "evidence": "The presentation concludes with a valuation of the company and an opportunity for multiple expansion.",
          "position": 3,
          "confidence": 0.8,
          "parentBeatName": "Resolution",
          "parentBeatSlug": "resolution"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-41a495222153",
      "docSlug": "b442fc01b34f",
      "documentTitle": "Corrections Corporation of America (CXW)",
      "authorId": "01_Pershing_Square",
      "authorName": "William Ackman",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-20 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 33,
      "slideType": "valuation_table",
      "function": "show_valuation_bridge",
      "notes": "The table uses two scenarios for Cap Rate (8.0% and 6.0%) to determine the valuation range.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-41a495222153/33",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-41a495222153",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-41a495222153#slide-33",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 40,
          "from": 24,
          "beatId": "8204b701-6e31-4162-a39f-402d5a721e7f",
          "arcName": "Rags to Riches",
          "arcSlug": "rags-to-riches",
          "beatName": "Ultimate Achievement",
          "beatSlug": "rags-to-riches-ultimate-achievement",
          "evidence": "The presentation concludes with a valuation of the company and an opportunity for multiple expansion.",
          "position": 3,
          "confidence": 0.8,
          "parentBeatName": "Resolution",
          "parentBeatSlug": "resolution"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-41a495222153",
      "docSlug": "b442fc01b34f",
      "documentTitle": "Corrections Corporation of America (CXW)",
      "authorId": "01_Pershing_Square",
      "authorName": "William Ackman",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-20 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 34,
      "slideType": "other",
      "function": "establish_context",
      "notes": "The slide provides a historical narrative of a corporate structure change.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-41a495222153/34",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-41a495222153",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-41a495222153#slide-34",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 40,
          "from": 24,
          "beatId": "8204b701-6e31-4162-a39f-402d5a721e7f",
          "arcName": "Rags to Riches",
          "arcSlug": "rags-to-riches",
          "beatName": "Ultimate Achievement",
          "beatSlug": "rags-to-riches-ultimate-achievement",
          "evidence": "The presentation concludes with a valuation of the company and an opportunity for multiple expansion.",
          "position": 3,
          "confidence": 0.8,
          "parentBeatName": "Resolution",
          "parentBeatSlug": "resolution"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-41a495222153",
      "docSlug": "b442fc01b34f",
      "documentTitle": "Corrections Corporation of America (CXW)",
      "authorId": "01_Pershing_Square",
      "authorName": "William Ackman",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-20 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 35,
      "slideType": "other",
      "function": "diagnose_problem",
      "notes": "The background contains a faded line chart showing a stock price decline, serving as a visual metaphor for the narrative.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-41a495222153/35",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-41a495222153",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-41a495222153#slide-35",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 40,
          "from": 24,
          "beatId": "8204b701-6e31-4162-a39f-402d5a721e7f",
          "arcName": "Rags to Riches",
          "arcSlug": "rags-to-riches",
          "beatName": "Ultimate Achievement",
          "beatSlug": "rags-to-riches-ultimate-achievement",
          "evidence": "The presentation concludes with a valuation of the company and an opportunity for multiple expansion.",
          "position": 3,
          "confidence": 0.8,
          "parentBeatName": "Resolution",
          "parentBeatSlug": "resolution"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-41a495222153",
      "docSlug": "b442fc01b34f",
      "documentTitle": "Corrections Corporation of America (CXW)",
      "authorId": "01_Pershing_Square",
      "authorName": "William Ackman",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-20 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 36,
      "slideType": "problem_statement",
      "function": "diagnose_problem",
      "notes": "The slide uses a clear 'not X, but Y' framing to isolate the actual drivers of failure.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-41a495222153/36",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-41a495222153",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-41a495222153#slide-36",
      "loopMatches": [
        {
          "to": 37,
          "from": 36,
          "name": "Cost Of Inaction",
          "slug": "27-cost-of-inaction",
          "bestFor": "Urgent budget requests, compliance, risk mitigation",
          "matchId": "7e991e25-3dab-469f-a8c6-a835ca10456a",
          "evidence": "The presentation mentions why New Prison Realty failed, implying the risks of not investing in a similar company.",
          "position": 2,
          "objective": "The risks of not investing in Corrections Corporation of America",
          "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
          "confidence": 0.5,
          "description": "Quantify what happens if the audience does nothing"
        }
      ],
      "arcBeatMatches": [
        {
          "to": 40,
          "from": 24,
          "beatId": "8204b701-6e31-4162-a39f-402d5a721e7f",
          "arcName": "Rags to Riches",
          "arcSlug": "rags-to-riches",
          "beatName": "Ultimate Achievement",
          "beatSlug": "rags-to-riches-ultimate-achievement",
          "evidence": "The presentation concludes with a valuation of the company and an opportunity for multiple expansion.",
          "position": 3,
          "confidence": 0.8,
          "parentBeatName": "Resolution",
          "parentBeatSlug": "resolution"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-41a495222153",
      "docSlug": "b442fc01b34f",
      "documentTitle": "Corrections Corporation of America (CXW)",
      "authorId": "01_Pershing_Square",
      "authorName": "William Ackman",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-20 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 37,
      "slideType": "appendix_data",
      "function": "analyze_data",
      "notes": "The slide uses a vertical dashed line to separate historical data (2001-2008) from projected data (2009-2010).",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-41a495222153/37",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-41a495222153",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-41a495222153#slide-37",
      "loopMatches": [
        {
          "to": 37,
          "from": 36,
          "name": "Cost Of Inaction",
          "slug": "27-cost-of-inaction",
          "bestFor": "Urgent budget requests, compliance, risk mitigation",
          "matchId": "7e991e25-3dab-469f-a8c6-a835ca10456a",
          "evidence": "The presentation mentions why New Prison Realty failed, implying the risks of not investing in a similar company.",
          "position": 2,
          "objective": "The risks of not investing in Corrections Corporation of America",
          "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
          "confidence": 0.5,
          "description": "Quantify what happens if the audience does nothing"
        }
      ],
      "arcBeatMatches": [
        {
          "to": 40,
          "from": 24,
          "beatId": "8204b701-6e31-4162-a39f-402d5a721e7f",
          "arcName": "Rags to Riches",
          "arcSlug": "rags-to-riches",
          "beatName": "Ultimate Achievement",
          "beatSlug": "rags-to-riches-ultimate-achievement",
          "evidence": "The presentation concludes with a valuation of the company and an opportunity for multiple expansion.",
          "position": 3,
          "confidence": 0.8,
          "parentBeatName": "Resolution",
          "parentBeatSlug": "resolution"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-41a495222153",
      "docSlug": "b442fc01b34f",
      "documentTitle": "Corrections Corporation of America (CXW)",
      "authorId": "01_Pershing_Square",
      "authorName": "William Ackman",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-20 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 38,
      "slideType": "before_after",
      "function": "analyze_data",
      "notes": "The slide uses a trend line to emphasize the downward trajectory of the managed business segment.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-41a495222153/38",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-41a495222153",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-41a495222153#slide-38",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 40,
          "from": 24,
          "beatId": "8204b701-6e31-4162-a39f-402d5a721e7f",
          "arcName": "Rags to Riches",
          "arcSlug": "rags-to-riches",
          "beatName": "Ultimate Achievement",
          "beatSlug": "rags-to-riches-ultimate-achievement",
          "evidence": "The presentation concludes with a valuation of the company and an opportunity for multiple expansion.",
          "position": 3,
          "confidence": 0.8,
          "parentBeatName": "Resolution",
          "parentBeatSlug": "resolution"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-41a495222153",
      "docSlug": "b442fc01b34f",
      "documentTitle": "Corrections Corporation of America (CXW)",
      "authorId": "01_Pershing_Square",
      "authorName": "William Ackman",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-20 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 39,
      "slideType": "ceo_quote",
      "function": "cite_precedent",
      "notes": null,
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-41a495222153/39",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-41a495222153",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-41a495222153#slide-39",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 40,
          "from": 24,
          "beatId": "8204b701-6e31-4162-a39f-402d5a721e7f",
          "arcName": "Rags to Riches",
          "arcSlug": "rags-to-riches",
          "beatName": "Ultimate Achievement",
          "beatSlug": "rags-to-riches-ultimate-achievement",
          "evidence": "The presentation concludes with a valuation of the company and an opportunity for multiple expansion.",
          "position": 3,
          "confidence": 0.8,
          "parentBeatName": "Resolution",
          "parentBeatSlug": "resolution"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-41a495222153",
      "docSlug": "b442fc01b34f",
      "documentTitle": "Corrections Corporation of America (CXW)",
      "authorId": "01_Pershing_Square",
      "authorName": "William Ackman",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-20 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 40,
      "slideType": "key_takeaways",
      "function": "summarize",
      "notes": null,
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-41a495222153/40",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-41a495222153",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-41a495222153#slide-40",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 40,
          "from": 24,
          "beatId": "8204b701-6e31-4162-a39f-402d5a721e7f",
          "arcName": "Rags to Riches",
          "arcSlug": "rags-to-riches",
          "beatName": "Ultimate Achievement",
          "beatSlug": "rags-to-riches-ultimate-achievement",
          "evidence": "The presentation concludes with a valuation of the company and an opportunity for multiple expansion.",
          "position": 3,
          "confidence": 0.8,
          "parentBeatName": "Resolution",
          "parentBeatSlug": "resolution"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-4832cdb3e662",
      "docSlug": "600406034f02",
      "documentTitle": "Mall REIT sector (long General Growth Properties) (GGP)",
      "authorId": "01_Pershing_Square",
      "authorName": "Pershing Square Capital Management",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-12-07 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 1,
      "slideType": "cover",
      "function": "front_matter",
      "notes": "The title is a metaphorical call to action, suggesting the need for timely investment decisions.",
      "imagePath": "https://imgproxy.kitesheet.com/S1HRNi4DPderRocHvvvvJ357yPW0h4eoXHU6W84BSQM/rs:fit:1200:1200:0/q:82/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy82MDA0MDYwMzRmMDIvcDAwMS5wbmc",
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-4832cdb3e662/1",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-4832cdb3e662",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-4832cdb3e662#slide-1",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 3,
          "from": 1,
          "beatId": "af7236ce-7717-441d-8f55-44c9e893f29e",
          "arcName": "Problem-Agitate-Solution",
          "arcSlug": "problem-agitate-solution",
          "beatName": "Attention",
          "beatSlug": "aida-attention",
          "evidence": "The presentation grabs the audience's attention by highlighting the challenges faced by Mall REITs at the beginning of 2009.",
          "position": 0,
          "confidence": 0.8,
          "parentBeatName": "Hook",
          "parentBeatSlug": "hook"
        }
      ],
      "imagePathAlt": "https://imgproxy.kitesheet.com/LTJEDM8C9Ie274aCs1bkre7mQZ_FXvCcDPlLKib4TVY/rs:fit:1200:1200:0/q:82/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy82MDA0MDYwMzRmMDIvcDAwMS5qcGc",
      "thumbSrc": "https://imgproxy.kitesheet.com/4NL7yRPKJvH6jCicPMHtLtgvNYSpPrrpj8YMBtJPgpM/rs:fit:480:480:0/q:78/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy82MDA0MDYwMzRmMDIvcDAwMS5wbmc",
      "thumbSrcAlt": "https://imgproxy.kitesheet.com/olKrtT2_uE0YhAWkIqReEchIlXqQ6Ou-CFud0KHK52k/rs:fit:480:480:0/q:78/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy82MDA0MDYwMzRmMDIvcDAwMS5qcGc"
    },
    {
      "docId": "019dd923-622c-750b-8b9b-4832cdb3e662",
      "docSlug": "600406034f02",
      "documentTitle": "Mall REIT sector (long General Growth Properties) (GGP)",
      "authorId": "01_Pershing_Square",
      "authorName": "Pershing Square Capital Management",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-12-07 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 2,
      "slideType": "disclaimer",
      "function": "other",
      "notes": "Includes a footnote citation to Warren Buffett.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-4832cdb3e662/2",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-4832cdb3e662",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-4832cdb3e662#slide-2",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 3,
          "from": 1,
          "beatId": "af7236ce-7717-441d-8f55-44c9e893f29e",
          "arcName": "Problem-Agitate-Solution",
          "arcSlug": "problem-agitate-solution",
          "beatName": "Attention",
          "beatSlug": "aida-attention",
          "evidence": "The presentation grabs the audience's attention by highlighting the challenges faced by Mall REITs at the beginning of 2009.",
          "position": 0,
          "confidence": 0.8,
          "parentBeatName": "Hook",
          "parentBeatSlug": "hook"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-4832cdb3e662",
      "docSlug": "600406034f02",
      "documentTitle": "Mall REIT sector (long General Growth Properties) (GGP)",
      "authorId": "01_Pershing_Square",
      "authorName": "Pershing Square Capital Management",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-12-07 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 3,
      "slideType": "transition",
      "function": "frame_situation",
      "notes": "The slide uses a chevron-style graphic to indicate a transition to a later time period.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-4832cdb3e662/3",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-4832cdb3e662",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-4832cdb3e662#slide-3",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 3,
          "from": 1,
          "beatId": "af7236ce-7717-441d-8f55-44c9e893f29e",
          "arcName": "Problem-Agitate-Solution",
          "arcSlug": "problem-agitate-solution",
          "beatName": "Attention",
          "beatSlug": "aida-attention",
          "evidence": "The presentation grabs the audience's attention by highlighting the challenges faced by Mall REITs at the beginning of 2009.",
          "position": 0,
          "confidence": 0.8,
          "parentBeatName": "Hook",
          "parentBeatSlug": "hook"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-4744aa77d85b",
      "docSlug": "b4601d9ee41d",
      "documentTitle": "Realty Income Corp (O)",
      "authorId": "01_Pershing_Square",
      "authorName": "Pershing Square Capital Management",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-06 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 1,
      "slideType": "filler",
      "function": "filler",
      "notes": "The slide uses a visual metaphor of meditation to represent the desire for monthly dividends, likely mocking a specific investment strategy or market condition.",
      "imagePath": "https://imgproxy.kitesheet.com/z-kh6tY_8G7997fscbXshjDzd8qzNwX-ozkdDupNP1o/rs:fit:1200:1200:0/q:82/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy9iNDYwMWQ5ZWU0MWQvcDAwMS5wbmc",
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-4744aa77d85b/1",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b#slide-1",
      "loopMatches": [],
      "arcBeatMatches": [],
      "imagePathAlt": "https://imgproxy.kitesheet.com/c5s2DPZ8RSmc89RsqpEC4PL0oetTvJ1ePOY6XwhEjBs/rs:fit:1200:1200:0/q:82/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy9iNDYwMWQ5ZWU0MWQvcDAwMS5qcGc",
      "thumbSrc": "https://imgproxy.kitesheet.com/lXbRfyVapeHWUgTa-FhsUAlEOPpDZyGtqHFs-8SQZ_Y/rs:fit:480:480:0/q:78/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy9iNDYwMWQ5ZWU0MWQvcDAwMS5wbmc",
      "thumbSrcAlt": "https://imgproxy.kitesheet.com/BSOlLP14DYDSaKsot_e8EH-WHI7cGwk9iDn7lgp6sYQ/rs:fit:480:480:0/q:78/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy9iNDYwMWQ5ZWU0MWQvcDAwMS5qcGc"
    },
    {
      "docId": "019dd923-622c-750b-8b9b-4744aa77d85b",
      "docSlug": "b4601d9ee41d",
      "documentTitle": "Realty Income Corp (O)",
      "authorId": "01_Pershing_Square",
      "authorName": "Pershing Square Capital Management",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-06 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 2,
      "slideType": "disclaimer",
      "function": "other",
      "notes": null,
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-4744aa77d85b/2",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b#slide-2",
      "loopMatches": [],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-4744aa77d85b",
      "docSlug": "b4601d9ee41d",
      "documentTitle": "Realty Income Corp (O)",
      "authorId": "01_Pershing_Square",
      "authorName": "Pershing Square Capital Management",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-06 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 3,
      "slideType": "villain_critique",
      "function": "name_villain",
      "notes": "The slide establishes the target company's profile and key financial metrics for an investment short thesis.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-4744aa77d85b/3",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b#slide-3",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 3,
          "from": 3,
          "beatId": "dacc819b-3670-4f1f-b32f-2b448d3c4d7e",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "Villain Critique",
          "beatSlug": null,
          "evidence": "The presentation begins by critiquing Realty Income as the 'villain'.",
          "position": 0,
          "confidence": 0.8,
          "parentBeatName": null,
          "parentBeatSlug": null
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-4744aa77d85b",
      "docSlug": "b4601d9ee41d",
      "documentTitle": "Realty Income Corp (O)",
      "authorId": "01_Pershing_Square",
      "authorName": "Pershing Square Capital Management",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-06 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 4,
      "slideType": "executive_summary",
      "function": "diagnose_problem",
      "notes": "The slide uses a yellow highlight for the final bullet point to emphasize a negative outlook/risk factor.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-4744aa77d85b/4",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b#slide-4",
      "loopMatches": [],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-4744aa77d85b",
      "docSlug": "b4601d9ee41d",
      "documentTitle": "Realty Income Corp (O)",
      "authorId": "01_Pershing_Square",
      "authorName": "Pershing Square Capital Management",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-06 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 5,
      "slideType": "other",
      "function": "illustrate_case",
      "notes": "The slide serves as a visual catalog of 'specialty-use' assets.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-4744aa77d85b/5",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b#slide-5",
      "loopMatches": [],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-4744aa77d85b",
      "docSlug": "b4601d9ee41d",
      "documentTitle": "Realty Income Corp (O)",
      "authorId": "01_Pershing_Square",
      "authorName": "Pershing Square Capital Management",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-06 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 6,
      "slideType": "valuation_table",
      "function": "analyze_data",
      "notes": "Includes footnotes detailing calculation methodologies for share counts, NOI, FFO, and dividend yield.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-4744aa77d85b/6",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b#slide-6",
      "loopMatches": [],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-4744aa77d85b",
      "docSlug": "b4601d9ee41d",
      "documentTitle": "Realty Income Corp (O)",
      "authorId": "01_Pershing_Square",
      "authorName": "Pershing Square Capital Management",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-06 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 7,
      "slideType": "key_messages",
      "function": "establish_context",
      "notes": "Includes brand marketing materials featuring cartoon illustrations and the company logo.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-4744aa77d85b/7",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b#slide-7",
      "loopMatches": [],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-4744aa77d85b",
      "docSlug": "b4601d9ee41d",
      "documentTitle": "Realty Income Corp (O)",
      "authorId": "01_Pershing_Square",
      "authorName": "Pershing Square Capital Management",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-06 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 8,
      "slideType": "thesis_headline",
      "function": "establish_context",
      "notes": null,
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-4744aa77d85b/8",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b#slide-8",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 8,
          "from": 8,
          "beatId": "921955ef-3612-4dbb-9917-dce127d34df9",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "Thesis Headline",
          "beatSlug": null,
          "evidence": "The short thesis is clearly stated, outlining the main arguments.",
          "position": 1,
          "confidence": 0.8,
          "parentBeatName": null,
          "parentBeatSlug": null
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-4744aa77d85b",
      "docSlug": "b4601d9ee41d",
      "documentTitle": "Realty Income Corp (O)",
      "authorId": "01_Pershing_Square",
      "authorName": "Pershing Square Capital Management",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-06 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 9,
      "slideType": "other",
      "function": "other",
      "notes": "The slide uses a humorous, illustrative style to frame the company's mission and purpose.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-4744aa77d85b/9",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b#slide-9",
      "loopMatches": [],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-4744aa77d85b",
      "docSlug": "b4601d9ee41d",
      "documentTitle": "Realty Income Corp (O)",
      "authorId": "01_Pershing_Square",
      "authorName": "Pershing Square Capital Management",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-06 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 10,
      "slideType": "appendix",
      "function": "summarize",
      "notes": "The slide uses a cartoon-style narrative to contrast market anxiety with the company's calm, stable financial position.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-4744aa77d85b/10",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b#slide-10",
      "loopMatches": [],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-4744aa77d85b",
      "docSlug": "b4601d9ee41d",
      "documentTitle": "Realty Income Corp (O)",
      "authorId": "01_Pershing_Square",
      "authorName": "Pershing Square Capital Management",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-06 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 11,
      "slideType": "comparison_table",
      "function": "compare_peers",
      "notes": "The slide uses a comparison table format to contrast the 'Old Business Plan' with the 'New Recession and Credit Crisis Plan'.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-4744aa77d85b/11",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b#slide-11",
      "loopMatches": [],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-4744aa77d85b",
      "docSlug": "b4601d9ee41d",
      "documentTitle": "Realty Income Corp (O)",
      "authorId": "01_Pershing_Square",
      "authorName": "Pershing Square Capital Management",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-06 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 12,
      "slideType": "section_divider",
      "function": "transition",
      "notes": null,
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-4744aa77d85b/12",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b#slide-12",
      "loopMatches": [],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-4744aa77d85b",
      "docSlug": "b4601d9ee41d",
      "documentTitle": "Realty Income Corp (O)",
      "authorId": "01_Pershing_Square",
      "authorName": "Pershing Square Capital Management",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-06 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 13,
      "slideType": "thesis_headline",
      "function": "diagnose_problem",
      "notes": "The slide presents a bearish case against Realty Income (O).",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-4744aa77d85b/13",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b#slide-13",
      "loopMatches": [],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-4744aa77d85b",
      "docSlug": "b4601d9ee41d",
      "documentTitle": "Realty Income Corp (O)",
      "authorId": "01_Pershing_Square",
      "authorName": "Pershing Square Capital Management",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-06 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 14,
      "slideType": "key_takeaways",
      "function": "summarize",
      "notes": "The slide uses a bearish investment thesis to argue that the stock is overvalued.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-4744aa77d85b/14",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b#slide-14",
      "loopMatches": [],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-4744aa77d85b",
      "docSlug": "b4601d9ee41d",
      "documentTitle": "Realty Income Corp (O)",
      "authorId": "01_Pershing_Square",
      "authorName": "Pershing Square Capital Management",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-06 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 15,
      "slideType": "expose_contradiction",
      "function": "expose_contradiction",
      "notes": "The slide uses a Q&A format to frame the lack of transparency as a deliberate attempt to protect the stock price from negative sentiment regarding tenant quality.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-4744aa77d85b/15",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b#slide-15",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 16,
          "from": 15,
          "beatId": "5c79263f-e5ec-4e47-81b9-dd5931887eeb",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "Expose Contradiction",
          "beatSlug": null,
          "evidence": "The presentation highlights contradictions in Realty Income's reporting and business practices.",
          "position": 2,
          "confidence": 0.8,
          "parentBeatName": null,
          "parentBeatSlug": null
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-4744aa77d85b",
      "docSlug": "b4601d9ee41d",
      "documentTitle": "Realty Income Corp (O)",
      "authorId": "01_Pershing_Square",
      "authorName": "Pershing Square Capital Management",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-06 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 16,
      "slideType": "expose_contradiction",
      "function": "expose_contradiction",
      "notes": "The slide uses a side-by-side comparison of two Q&A transcripts to reinforce a single point about corporate disclosure policy.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-4744aa77d85b/16",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b#slide-16",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 16,
          "from": 15,
          "beatId": "5c79263f-e5ec-4e47-81b9-dd5931887eeb",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "Expose Contradiction",
          "beatSlug": null,
          "evidence": "The presentation highlights contradictions in Realty Income's reporting and business practices.",
          "position": 2,
          "confidence": 0.8,
          "parentBeatName": null,
          "parentBeatSlug": null
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-4744aa77d85b",
      "docSlug": "b4601d9ee41d",
      "documentTitle": "Realty Income Corp (O)",
      "authorId": "01_Pershing_Square",
      "authorName": "Pershing Square Capital Management",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-06 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 17,
      "slideType": "kpi_overview",
      "function": "analyze_data",
      "notes": "The slide uses color-coded callout boxes to emphasize key takeaways from the data table.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-4744aa77d85b/17",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b#slide-17",
      "loopMatches": [],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-4744aa77d85b",
      "docSlug": "b4601d9ee41d",
      "documentTitle": "Realty Income Corp (O)",
      "authorId": "01_Pershing_Square",
      "authorName": "Pershing Square Capital Management",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-06 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 18,
      "slideType": "preempt_rebuttal",
      "function": "preempt_rebuttal",
      "notes": "The slide uses a callout box to emphasize the concentration risk (~20% of revenue) associated with these poor credits.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-4744aa77d85b/18",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b#slide-18",
      "loopMatches": [
        {
          "to": 18,
          "from": 18,
          "name": "Aha Moment",
          "slug": "03-aha-moment",
          "bestFor": "Data-heavy sections, research findings, analytical arguments",
          "matchId": "4ad2ad02-96b6-424c-9344-fe3416c1037b",
          "evidence": "The presentation highlights the risks associated with these tenants.",
          "position": 0,
          "objective": "What are the implications of Realty Income's largest tenants being junk-rated credits?",
          "structure": "The Problem/Question -> What the Data Shows -> The Insight",
          "confidence": 0.7,
          "description": "Establish a tension, present data, then deliver the insight that changes everything"
        }
      ],
      "arcBeatMatches": [
        {
          "to": 18,
          "from": 18,
          "beatId": "bd201187-e686-4c85-97f9-1dfa59c0b30a",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "Preempt Rebuttal",
          "beatSlug": null,
          "evidence": "The presentation preempts potential rebuttals by addressing concerns about tenant creditworthiness.",
          "position": 3,
          "confidence": 0.8,
          "parentBeatName": null,
          "parentBeatSlug": null
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-4744aa77d85b",
      "docSlug": "b4601d9ee41d",
      "documentTitle": "Realty Income Corp (O)",
      "authorId": "01_Pershing_Square",
      "authorName": "Pershing Square Capital Management",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-06 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 19,
      "slideType": "villain_critique",
      "function": "name_villain",
      "notes": "The slide uses a table to list specific tenants, their business descriptions, and their leverage/financial commentary to build a case for credit risk.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-4744aa77d85b/19",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b#slide-19",
      "loopMatches": [],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-4744aa77d85b",
      "docSlug": "b4601d9ee41d",
      "documentTitle": "Realty Income Corp (O)",
      "authorId": "01_Pershing_Square",
      "authorName": "Pershing Square Capital Management",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-06 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 20,
      "slideType": "problem_statement",
      "function": "diagnose_problem",
      "notes": null,
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-4744aa77d85b/20",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b#slide-20",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 20,
          "from": 20,
          "beatId": "85fe7487-76a3-439e-a8b8-54424b623c68",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "Problem Statement",
          "beatSlug": null,
          "evidence": "A clear problem statement is presented, outlining the risks associated with tenant bankruptcy.",
          "position": 4,
          "confidence": 0.8,
          "parentBeatName": null,
          "parentBeatSlug": null
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-4744aa77d85b",
      "docSlug": "b4601d9ee41d",
      "documentTitle": "Realty Income Corp (O)",
      "authorId": "01_Pershing_Square",
      "authorName": "Pershing Square Capital Management",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-06 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 21,
      "slideType": "kpi_overview",
      "function": "analyze_data",
      "notes": "The slide links asset growth to specific LBO financing activities during the credit bubble.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-4744aa77d85b/21",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b#slide-21",
      "loopMatches": [],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-4744aa77d85b",
      "docSlug": "b4601d9ee41d",
      "documentTitle": "Realty Income Corp (O)",
      "authorId": "01_Pershing_Square",
      "authorName": "Pershing Square Capital Management",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-06 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 22,
      "slideType": "preempt_rebuttal",
      "function": "preempt_rebuttal",
      "notes": "The slide uses a red dashed box to highlight the 'Minimal room for error' between current dividend and recurring AFFO.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-4744aa77d85b/22",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b#slide-22",
      "loopMatches": [],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-4744aa77d85b",
      "docSlug": "b4601d9ee41d",
      "documentTitle": "Realty Income Corp (O)",
      "authorId": "01_Pershing_Square",
      "authorName": "Pershing Square Capital Management",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-06 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 23,
      "slideType": "scenario_table",
      "function": "diagnose_problem",
      "notes": "The slide uses a 'What If' scenario framing to highlight liquidity and dividend risks.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-4744aa77d85b/23",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b#slide-23",
      "loopMatches": [],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-4744aa77d85b",
      "docSlug": "b4601d9ee41d",
      "documentTitle": "Realty Income Corp (O)",
      "authorId": "01_Pershing_Square",
      "authorName": "Pershing Square Capital Management",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-06 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 24,
      "slideType": "thesis_headline",
      "function": "summarize",
      "notes": null,
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-4744aa77d85b/24",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b#slide-24",
      "loopMatches": [],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-4744aa77d85b",
      "docSlug": "b4601d9ee41d",
      "documentTitle": "Realty Income Corp (O)",
      "authorId": "01_Pershing_Square",
      "authorName": "Pershing Square Capital Management",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-06 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 25,
      "slideType": "valuation_reveal",
      "function": "analyze_data",
      "notes": "The slide uses red dashed circles to highlight specific historical equity offering points on the line chart.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-4744aa77d85b/25",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b#slide-25",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 25,
          "from": 25,
          "beatId": "531a27ab-0816-488d-9a9a-16a15825324d",
          "arcName": "Overcoming the Monster",
          "arcSlug": "overcoming-monster",
          "beatName": "Valuation Reveal",
          "beatSlug": null,
          "evidence": "The presentation reveals concerns about Realty Income's valuation and potential equity issuance.",
          "position": 5,
          "confidence": 0.8,
          "parentBeatName": null,
          "parentBeatSlug": null
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-4744aa77d85b",
      "docSlug": "b4601d9ee41d",
      "documentTitle": "Realty Income Corp (O)",
      "authorId": "01_Pershing_Square",
      "authorName": "Pershing Square Capital Management",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-06 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 26,
      "slideType": "comparison_table",
      "function": "compare_peers",
      "notes": "The slide uses a comparison frame to highlight the discrepancy between the subject properties' cap rates and the benchmark.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-4744aa77d85b/26",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b#slide-26",
      "loopMatches": [],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-4744aa77d85b",
      "docSlug": "b4601d9ee41d",
      "documentTitle": "Realty Income Corp (O)",
      "authorId": "01_Pershing_Square",
      "authorName": "Pershing Square Capital Management",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-06 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 27,
      "slideType": "valuation_table",
      "function": "compare_peers",
      "notes": "The slide uses a table of individual property listings to argue that the market valuation of Realty Income is inflated compared to actual private market transactions.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-4744aa77d85b/27",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b#slide-27",
      "loopMatches": [],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-4744aa77d85b",
      "docSlug": "b4601d9ee41d",
      "documentTitle": "Realty Income Corp (O)",
      "authorId": "01_Pershing_Square",
      "authorName": "Pershing Square Capital Management",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-06 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 28,
      "slideType": "ceo_quote",
      "function": "summarize",
      "notes": "The slide uses color-coded text (red) to emphasize specific historical data points and the concluding outlook.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-4744aa77d85b/28",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b#slide-28",
      "loopMatches": [],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-4744aa77d85b",
      "docSlug": "b4601d9ee41d",
      "documentTitle": "Realty Income Corp (O)",
      "authorId": "01_Pershing_Square",
      "authorName": "Pershing Square Capital Management",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-06 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 29,
      "slideType": "expose_contradiction",
      "function": "expose_contradiction",
      "notes": "The slide uses rhetorical questions to expose a valuation contradiction.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-4744aa77d85b/29",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b#slide-29",
      "loopMatches": [],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-4744aa77d85b",
      "docSlug": "b4601d9ee41d",
      "documentTitle": "Realty Income Corp (O)",
      "authorId": "01_Pershing_Square",
      "authorName": "Pershing Square Capital Management",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-06 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 30,
      "slideType": "before_after",
      "function": "compare_peers",
      "notes": "The chart uses a dotted oval to highlight the recent performance gap between the two assets.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-4744aa77d85b/30",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b#slide-30",
      "loopMatches": [],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-4744aa77d85b",
      "docSlug": "b4601d9ee41d",
      "documentTitle": "Realty Income Corp (O)",
      "authorId": "01_Pershing_Square",
      "authorName": "Pershing Square Capital Management",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-06 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 31,
      "slideType": "expose_contradiction",
      "function": "expose_contradiction",
      "notes": "The slide uses specific data points about executive tenure and stock sales to build a case against management alignment.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-4744aa77d85b/31",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b#slide-31",
      "loopMatches": [],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-4744aa77d85b",
      "docSlug": "b4601d9ee41d",
      "documentTitle": "Realty Income Corp (O)",
      "authorId": "01_Pershing_Square",
      "authorName": "Pershing Square Capital Management",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-06 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 32,
      "slideType": "demand_list",
      "function": "state_demand",
      "notes": null,
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-4744aa77d85b/32",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b#slide-32",
      "loopMatches": [],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-4744aa77d85b",
      "docSlug": "b4601d9ee41d",
      "documentTitle": "Realty Income Corp (O)",
      "authorId": "01_Pershing_Square",
      "authorName": "Pershing Square Capital Management",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-06 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 33,
      "slideType": "scenario_table",
      "function": "analyze_data",
      "notes": "The slide presents two tables: one for absolute stock price and one for percentage return from a $25 baseline.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-4744aa77d85b/33",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b#slide-33",
      "loopMatches": [
        {
          "to": 33,
          "from": 33,
          "name": "Mece Breakdown",
          "slug": "40-mece-breakdown",
          "bestFor": "Problem structuring, ensuring completeness, strategic analysis",
          "matchId": "388a326f-f496-4496-b47a-a155ed6fa080",
          "evidence": "The presentation provides a sensitivity analysis to support its short thesis.",
          "position": 1,
          "objective": "What are the implications of Realty Income's sensitivity analysis?",
          "structure": "The Whole -> Category A (distinct) -> Category B (distinct) -> Category C (distinct) -> Complete Coverage",
          "confidence": 0.6,
          "description": "Divide a complex topic into mutually exclusive, collectively exhaustive categories"
        }
      ],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-4744aa77d85b",
      "docSlug": "b4601d9ee41d",
      "documentTitle": "Realty Income Corp (O)",
      "authorId": "01_Pershing_Square",
      "authorName": "Pershing Square Capital Management",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-06 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 34,
      "slideType": "other",
      "function": "analyze_data",
      "notes": "The slide highlights a specific governance practice regarding executive compensation.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-4744aa77d85b/34",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b#slide-34",
      "loopMatches": [],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622c-750b-8b9b-4744aa77d85b",
      "docSlug": "b4601d9ee41d",
      "documentTitle": "Realty Income Corp (O)",
      "authorId": "01_Pershing_Square",
      "authorName": "Pershing Square Capital Management",
      "documentKindSlug": "conference-presentation",
      "documentKindLabel": "Conference presentation",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2009-10-06 00:00:00",
      "orientation": "portrait",
      "aspectRatio": 0.77272725,
      "pageNumber": 35,
      "slideType": "key_takeaways",
      "function": "summarize",
      "notes": null,
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622c-750b-8b9b-4744aa77d85b/35",
      "deckHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b",
      "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b#slide-35",
      "loopMatches": [],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    }
  ]
}