{
  "docId": "019dd923-622c-750b-8b9b-56a436c869d8",
  "docSlug": "4a661a4b5e99",
  "documentTitle": "Mall REIT sector (long General Growth Properties) (GGP)",
  "authorId": "01_Pershing_Square",
  "authorName": "William Ackman",
  "documentKindSlug": "conference-presentation",
  "documentKindLabel": "Conference presentation",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2010-05-26 00:00:00",
  "orientation": "portrait",
  "aspectRatio": 0.77272725,
  "pageNumber": 11,
  "pageCount": 89,
  "prevPage": 10,
  "nextPage": 12,
  "slideType": "thesis_headline",
  "function": "analyze_data",
  "density": "balanced",
  "nDataPoints": 4,
  "notes": "The slide uses a Bloomberg terminal screenshot to provide evidence for the thesis.",
  "elementsJson": [
    "headline_text",
    "callout_box",
    "line_chart",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9b-56a436c869d8/11",
  "deckHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8#slide-11",
  "components": [
    {
      "bbox": {
        "h": 0.08,
        "w": 0.82,
        "x": 0.09,
        "y": 0.22
      },
      "kind": "callout",
      "text": "The ABX AAA 06-2 Index, which tracks pricing on a basket of 2006 vintage subprime loans, has marched upward over the past year",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7df3cb14-93ab-4ff9-bbe2-ed32b51edad2",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.45,
        "w": 0.77,
        "x": 0.12,
        "y": 0.39
      },
      "kind": "chart",
      "text": "Markit ABX.HE.AAA 06-2 Index",
      "attrs": null,
      "subkind": "line",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "64ee2acc-96a7-469d-93c1-006f5cb8bfac",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "ABX Index Price: 52.915",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-0394-7243-bea2-053feb892061",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.2,
        "x": 0.07,
        "y": 0.91
      },
      "kind": "source-note",
      "text": "Source: Bloomberg (as of 5/28/10).",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "8327cd61-f31d-4489-bc64-f761aab8e479",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.84,
        "x": 0.08,
        "y": 0.13
      },
      "kind": "title",
      "text": "The Housing Market is Showing Signs of Improvement",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "21feca5a-5405-4e1b-a49c-200d1b8435f4",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Chart Selection Guide",
      "slug": "chart-selection-guide",
      "agent": "Designer",
      "layer": "slide",
      "matchId": "6b7f4e78-13a2-4ba5-b640-f61caef6a48c",
      "evidence": "chart/line: Markit ABX.HE.AAA 06-2 Index",
      "confidence": 0.5
    }
  ],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 12,
      "from": 9,
      "beatId": "af9ef75b-2e4a-4f61-813a-9078f0f1a549",
      "arcName": "The Sequoia Pitch",
      "arcSlug": "sequoia-pitch",
      "beatName": "Market Size",
      "beatSlug": "sequoia-pitch-market-size",
      "evidence": "The presentation discusses the market conditions and the size of the opportunity for GGP.",
      "position": 1,
      "confidence": 0.8,
      "parentBeatName": "Evidence",
      "parentBeatSlug": "evidence"
    }
  ],
  "loops": [
    {
      "to": 15,
      "from": 10,
      "name": "Cost Of Inaction",
      "slug": "27-cost-of-inaction",
      "bestFor": "Urgent budget requests, compliance, risk mitigation",
      "matchId": "2c1d0be5-5de1-4d4b-a67e-0f85722f1aa3",
      "evidence": "The presentation discusses the risks of not taking action and the benefits of GGP's proposed solution.",
      "position": 0,
      "objective": "Highlight the cost of inaction for GGP",
      "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
      "confidence": 0.6,
      "description": "Quantify what happens if the audience does nothing"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}