{
  "docId": "019dd923-622c-750b-8b97-92c6b164e5b0",
  "docSlug": "b0d582a40bc2",
  "documentTitle": "Fairfax Financial Holdings Ltd. (FFH)",
  "authorId": "51_Muddy_Waters",
  "authorName": "Muddy Waters Research",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2024-02-08 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.7777778,
  "pageNumber": 60,
  "pageCount": 72,
  "prevPage": 59,
  "nextPage": 61,
  "slideType": "valuation_reveal",
  "function": "show_valuation_bridge",
  "density": "balanced",
  "nDataPoints": 1,
  "notes": "The chart is a screenshot from a financial terminal (likely Capital IQ).",
  "elementsJson": [
    "headline_text",
    "screenshot",
    "paragraph"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b97-92c6b164e5b0/60",
  "deckHref": "/decks/019dd923-622c-750b-8b97-92c6b164e5b0",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b97-92c6b164e5b0.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b97-92c6b164e5b0#slide-60",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "$1.5 Billion appears to be a decent premium to S&P Capital IQ's valuation based on comps.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-25b5-768c-bb32-cd323572fc16",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.1,
        "x": 0.88,
        "y": 0.02
      },
      "kind": "image",
      "text": "Muddy Waters Research",
      "attrs": null,
      "subkind": "logo",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "79ec48a6-21db-4ab9-acb4-53c033edf58f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.55,
        "w": 0.64,
        "x": 0.18,
        "y": 0.18
      },
      "kind": "image",
      "text": "Financial terminal valuation chart",
      "attrs": null,
      "subkind": "screenshot",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "25bb4c09-c0d7-465a-a903-298cf01f6e41",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "Implied Equity Value: $1.5 Billion",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-25b5-768c-bb32-d3e33bc14315",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.9,
        "x": 0.05,
        "y": 0.8
      },
      "kind": "paragraph",
      "text": "$1.5 Billion appears to be a decent premium to S&P Capital IQ's valuation based on comps.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "092be33c-f9fd-45ab-9e7c-a6d3cf48b1fe",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.8,
        "x": 0.05,
        "y": 0.03
      },
      "kind": "title",
      "text": "We Value Digit at $1.5 Billion, Which is Company Favorable",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "6dff8242-164e-4bc1-bb8d-c00630ee179a",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 72,
      "from": 4,
      "beatId": "e9a96546-1054-431c-aa6b-9c2a5e0f1f43",
      "arcName": "Overcoming the Monster",
      "arcSlug": "overcoming-monster",
      "beatName": "Expose Contradiction",
      "beatSlug": null,
      "evidence": "Repeatedly highlighting contradictions and discrepancies in Fairfax Financial's accounting and valuation practices",
      "position": 0,
      "confidence": 0.8,
      "parentBeatName": null,
      "parentBeatSlug": null
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}