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  "documentTitle": "Herbalife, Ltd. (HLF)",
  "authorId": "01_Pershing_Square",
  "authorName": "William Ackman",
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  "presentationDate": "2012-12-20 00:00:00",
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  "pageNumber": 11,
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  "notes": "Uses a rhetorical question to cast doubt on the legitimacy of the company's business model.",
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      "kind": "callout",
      "text": "Has anyone ever purchased an Herbalife product?",
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      "text": "Key Brands",
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      "text": "Gross Margin: 80.2%",
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      "text": "(1) LTM as of 9/30/12. Source: public company filings.",
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      "kind": "title",
      "text": "... But It Is Not a Typical Consumer Product Company",
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