{
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  "docSlug": "ad16f67f6f75",
  "documentTitle": "Health Management Associates (HMA)",
  "authorId": "12_Glenview",
  "authorName": "Larry Robbins",
  "documentKindSlug": "activist-deck",
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  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2013-07-01 00:00:00",
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  "pageNumber": 9,
  "pageCount": 54,
  "prevPage": 8,
  "nextPage": 10,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "balanced",
  "nDataPoints": 27,
  "notes": "The slide uses a red 'X' to denote missed guidance and a dash for achieved/exceeded, culminating in a summary row showing the total number of misses.",
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      "kind": "callout",
      "text": "In the instances where HMA missed the low end of their guidance range, the average magnitude of difference between reported metrics relative to the midpoint of the initial guidance range averages to be -8% for EBITDA and -14% for EPS",
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      "text": "guidance miss rate: 7",
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      "kind": "source-note",
      "text": "Source: Company filings, press releases, earnings calls and Morgan Stanley equity research.",
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      "text": "HMA Reported Performance Metrics Relative to Low End of Initial Guidance Range",
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      "kind": "title",
      "text": "Over the past 10 years, management has consistently underperformed relative to their initial guidance",
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      "kind": "title",
      "text": "Substandard Financial Management and Focus",
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      "evidence": "The document agitates the issues, highlighting the consequences of the current board and management's actions, including multiple investigations, inconsistent financial management, and misaligned executive incentive compensation.",
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      "parentBeatName": "Development",
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