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  "documentTitle": "Apple Inc. (AAPL)",
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  "authorName": "David Einhorn",
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  "notes": "Uses a 'hypocrisy' frame to highlight the contradiction between management's public rhetoric and private actions.",
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      "text": "In other words, management's action shows that when it's our money, it needs to be held conservatively and reserved for \"strategic flexibility.\" But when it's their money, they don't need so much rainy day cash and they'd like to see the balance sheet working harder to generate the maximum return on their equity.",
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      "text": "In other words, management's action shows that when it's our money, it needs to be held conservatively and reserved for \"strategic flexibility.\" But when it's their money, they don't need so much rainy day cash and they'd like to see the balance sheet working harder to generate the maximum return on their equity.",
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      "text": "Michael Dell probably didn't mind the stock falling. For him, it created an opportunity. Now, he wants to take Dell private and voilà! The balance sheet will be fully utilized to finance his purchase of the company. Dell's cash-rich balance sheet will become a leveraged balance sheet. At least some of the untouchable foreign cash – take a deep breath – is set to be repatriated.",
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