{
  "docId": "019dd923-622c-750b-8b96-54d2d65f46fb",
  "docSlug": "f004c0c14f61",
  "documentTitle": "Bolloré SA (BOL FP)",
  "authorId": "51_Muddy_Waters",
  "authorName": "Carson C Block",
  "documentKindSlug": "research-note",
  "documentKindLabel": "Research note",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2015-02-17 00:00:00",
  "orientation": "portrait",
  "aspectRatio": 0.78790915,
  "pageNumber": 20,
  "pageCount": 26,
  "prevPage": 19,
  "nextPage": 21,
  "slideType": "other",
  "function": "analyze_data",
  "density": "sparse",
  "nDataPoints": 0,
  "notes": "This appears to be a continuation of a text-heavy research note.",
  "elementsJson": [
    "paragraph",
    "bullet_list"
  ],
  "metadataConfidence": 0.9,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b96-54d2d65f46fb/20",
  "deckHref": "/decks/019dd923-622c-750b-8b96-54d2d65f46fb",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b96-54d2d65f46fb.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b96-54d2d65f46fb#slide-20",
  "components": [
    {
      "bbox": {
        "h": 0.15,
        "w": 0.6,
        "x": 0.21,
        "y": 0.0015300000000000001
      },
      "kind": "list",
      "text": "BOL is exposed to macro risks, both at the business and share price level. As we discuss in the logistics section, a slowdown in GDP growth will negatively impact trade volumes, and to some extent, the businesses. However, the ports business has shown as recently as 2009 that it weathers contractions well. For non-euro reference currency investors, the situation with the possible “Grexit” poses risk to the value of euro-denominated assets, including BOL.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "91fd334e-a80f-49ac-88c3-eca44202fecd",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.6,
        "x": 0.21,
        "y": 0.91
      },
      "kind": "paragraph",
      "text": "such practices, and to the extent a company runs afoul of them, it can be punished. If BOL were found to be violating such laws, it could be penalized. However, we are unaware of any truly material penalty imposed on companies found to have engaged in corrupt practices overseas.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a6996def-1233-45a0-9df6-2e0766e78155",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}