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  "documentTitle": "McDonald's Corporation (MCD)",
  "authorId": "01_Pershing_Square",
  "authorName": "William Ackman",
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  "presentationDate": "2005-11-15 00:00:00",
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      "text": "Despite McDonald's strong real estate assets, number one QSR market position and leading brand, McDonald's trades at a discount to its peers. We believe this discount is due to a fundamental misconception about McDonald's business.",
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      "text": "(1) McDonald's stock price is based on a 30-day average trailing price as of 11/11/05.",
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