{
  "docId": "019dd923-622c-750b-8b98-2cdb791571f2",
  "docSlug": "b5e9ae4f10b0",
  "documentTitle": "Lumen Technologies (LUMN)",
  "authorId": "53_Kerrisdale_Capital",
  "authorName": "Kerrisdale Capital",
  "documentKindSlug": "research-note",
  "documentKindLabel": "Research note",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2024-08-15 00:00:00",
  "orientation": "portrait",
  "aspectRatio": 0.77272725,
  "pageNumber": 22,
  "pageCount": 22,
  "prevPage": 21,
  "nextPage": null,
  "slideType": "disclaimer",
  "function": "preempt_rebuttal",
  "density": "sparse",
  "nDataPoints": 0,
  "notes": "This slide functions as a preemptive legal defense against potential regulatory scrutiny regarding trading practices.",
  "elementsJson": [
    "paragraph"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b98-2cdb791571f2/22",
  "deckHref": "/decks/019dd923-622c-750b-8b98-2cdb791571f2",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b98-2cdb791571f2.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b98-2cdb791571f2#slide-22",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "In the absence of second-by-second trading updates and so that investors don't feel wronged that we may close out a lot of a position very quickly after publishing, just assume that that is exactly what we'll do.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-25b7-709e-b8c0-b995bbc6eede",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.825,
        "w": 0.766,
        "x": 0.117,
        "y": 0.095
      },
      "kind": "paragraph",
      "text": "opposed to communicating to readers a future trading intention that may not turn out to be accurate. But the SEC complaint implies that we may know how we will trade a security subsequent to publication...",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7ec5f20d-88c2-4a20-9502-18717c7d2cfb",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "preempt_rebuttal",
      "slug": null,
      "matchId": "57967a52-83b4-4b4b-a83d-930f28027c54",
      "evidence": "The text directly addresses and refutes specific points from an SEC complaint.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 22,
      "from": 14,
      "beatId": "d49d6538-14f9-4c29-8afc-3765cd457077",
      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Solution (Provide relief)",
      "beatSlug": "problem-agitate-solution-solution-provide-relief",
      "evidence": "Slides 14-22 provide an implied solution (sell or short-sell) and supporting data",
      "position": 2,
      "confidence": 0.8,
      "parentBeatName": "Resolution",
      "parentBeatSlug": "resolution"
    }
  ],
  "loops": [
    {
      "to": 22,
      "from": 14,
      "name": "Hypothesis Test",
      "slug": "42-hypothesis-test",
      "bestFor": "Strategy validation, due diligence, research presentations",
      "matchId": "f579302c-9b73-4f8a-a40d-879f0b9a3020",
      "evidence": "Slides 14-22 provide data and analysis to support the hypothesis",
      "position": 2,
      "objective": "Test the hypothesis that Lumen's stock is overvalued",
      "structure": "The Hypothesis -> Test 1 (Supports/Refutes) -> Test 2 (Supports/Refutes) -> Conclusion (Validated/Pivoted)",
      "confidence": 0.7,
      "description": "State a hypothesis upfront, then systematically prove or disprove it with evidence"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}