{
  "docId": "019dd923-622b-71dc-a6db-fe3a4e8c9446",
  "docSlug": "715a408c4252",
  "documentTitle": "Multiple (ValueAct portfolio: Moody's, CBRE, Motorola Solutions, Adobe, Halliburton, Autodesk, Gardner Denver, Sara Lee, Verisign, CR Bard)",
  "authorId": "10_ValueAct",
  "authorName": "Jeff Ubben",
  "documentKindSlug": "conference-presentation",
  "documentKindLabel": "Conference presentation",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2012-10-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 9,
  "pageCount": 26,
  "prevPage": 8,
  "nextPage": 10,
  "slideType": "villain_critique",
  "function": "name_villain",
  "density": "balanced",
  "nDataPoints": 2,
  "notes": "The chart highlights the significant divergence between the broader market and the financial sector, particularly following the 2008 financial crisis.",
  "elementsJson": [
    "headline_text",
    "bullet_list",
    "line_chart",
    "callout_box"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6db-fe3a4e8c9446/9",
  "deckHref": "/decks/019dd923-622b-71dc-a6db-fe3a4e8c9446",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6db-fe3a4e8c9446.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-fe3a4e8c9446#slide-9",
  "components": [
    {
      "bbox": {
        "h": 0.5,
        "w": 0.7,
        "x": 0.15,
        "y": 0.4
      },
      "kind": "chart",
      "text": "S&P 500 vs. S&P Financial Index",
      "attrs": null,
      "subkind": "line",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "19f5c7ea-03c1-4bb7-8d8f-2942a22c4073",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.8,
        "x": 0.1,
        "y": 0.18
      },
      "kind": "list",
      "text": "Minimal competitive differentiation\nSpread-based earnings\nImpossible to audit asset values as outside investor",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "92e754bf-c7c3-4b4c-a3bd-a0830437f4a2",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "Total Return",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-0f1b-7682-8499-3a768e1dc126",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.9,
        "x": 0.05,
        "y": 0.03
      },
      "kind": "title",
      "text": "Why We Don't Like Traditional Financials",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a69ba59a-5db1-4bdd-b903-7d6961ddec06",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 11,
      "from": 9,
      "beatId": "e98c4b8a-7a46-4971-bb62-537c0116f7ad",
      "arcName": "The Sequoia Pitch",
      "arcSlug": "sequoia-pitch",
      "beatName": "Product",
      "beatSlug": "sequoia-pitch-product",
      "evidence": "Moody's (MCO) and its growth opportunities",
      "position": 2,
      "confidence": 0.7,
      "parentBeatName": "Evidence",
      "parentBeatSlug": "evidence"
    }
  ],
  "loops": [
    {
      "to": 11,
      "from": 9,
      "name": "Cost Of Inaction",
      "slug": "27-cost-of-inaction",
      "bestFor": "Urgent budget requests, compliance, risk mitigation",
      "matchId": "04102ccd-e5b5-4da3-a37e-b66f23e4d301",
      "evidence": "Why We Don't Like Traditional Financials and Moody's (MCO) growth opportunities",
      "position": 1,
      "objective": "Highlighting the cost of inaction in traditional financials",
      "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
      "confidence": 0.6,
      "description": "Quantify what happens if the audience does nothing"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}