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  "documentTitle": "Herbalife, Ltd. (HLF)",
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  "authorName": "William Ackman",
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  "presentationDate": "2012-12-20 00:00:00",
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  "notes": "The slide uses annotations to highlight specific volume plateaus (5,000, 3,000, 2,500) to argue against organic retail demand.",
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      "kind": "callout",
      "text": "The chart below shows Anthony Powell’s monthly Personal Volume from 1996 to 2000. You might think it would be driven by the vagaries of retail demand...",
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      "text": "Source: Affidavit of William Partin (McDowell v. Herbalife, No. 00-2011 (W.D. Wash.)).",
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      "text": "Why Herbalife Distributors “Pay-for-your-Paycheck” The (not so) Curious Case of Anthony Powell (Cont’d)",
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