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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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  "nDataPoints": 6,
  "notes": "The slide uses a matrix structure to contrast two distributor categories across three dimensions: Retail Profit, Recruiting Profit, and Minimum Volume Requirement.",
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      "kind": "disclaimer",
      "text": "(1) Assumes 1 Volume Point = $1 Retail Sales for simplicity (the actual ratio is a little higher). Cost to achieve the Volume Points includes Herbalife's 7% surcharge (e.g., 500 Volume Points * 1 VP / RS = $500 Retail Sales; (1 - 35% + 7%) * $500 = $360).",
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      "text": "Comparison matrix of NSLs vs SLs across Retail Profit, Recruiting Profit, and Minimum Volume Requirement",
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      "text": "Two Primary Types of Distributors",
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