{
  "docId": "019dd923-622c-750b-8b9b-74abb4a757e7",
  "docSlug": "886ebab3088d",
  "documentTitle": "Herbalife, Ltd. (HLF)",
  "authorId": "01_Pershing_Square",
  "authorName": "William Ackman",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2012-12-20 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 309,
  "pageCount": 334,
  "prevPage": 308,
  "nextPage": 310,
  "slideType": "preempt_rebuttal",
  "function": "preempt_rebuttal",
  "density": "sparse",
  "nDataPoints": 1,
  "notes": "This is a classic 'preempt_rebuttal' slide designed to invalidate a specific metric often cited by the company or bulls.",
  "elementsJson": [
    "callout_box"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9b-74abb4a757e7/309",
  "deckHref": "/decks/019dd923-622c-750b-8b9b-74abb4a757e7",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9b-74abb4a757e7.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-74abb4a757e7#slide-309",
  "components": [
    {
      "bbox": {
        "h": 0.366,
        "w": 0.77,
        "x": 0.115,
        "y": 0.317
      },
      "kind": "callout",
      "text": "Herbalife’s ‘buyback’ policy is effective at limiting product returns. Therefore, we believe the 0.4% return percentage is not a useful indicator of Retail Sales",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e86bce61-4c23-40dd-8c26-e843b1067e00",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "return percentage: 0.4%",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-1ac1-76e9-bccf-f96cf2532253",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "preempt_rebuttal",
      "slug": null,
      "matchId": "6353595b-c34c-4d1c-916b-81fa6c8a0a33",
      "evidence": "The slide explicitly attacks a metric (0.4% return rate) to neutralize a potential counter-argument.",
      "confidence": 1
    }
  ],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}