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  "documentTitle": "Valeant Pharmaceuticals International (VRX)",
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  "authorName": "William Ackman",
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      "text": "Although it wasn’t obvious to many at the time, the dislocation in the stock price due to the scandal provided a great buying opportunity.",
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      "text": "Had AmEx done better due diligence, it would have never dealt with De Angelis\nAmEx’s share price fell over 40%, eliminating ~$110 million in AmEx’s market capitalization due to the perception that AmEx’s franchise was at risk\nA 35-year-old hedge fund manager put 40% of his fund into AmEx . . .",
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      "text": "Although it wasn’t obvious to many at the time, the dislocation in the stock price due to the scandal provided a great buying opportunity. With the passage of time, the strength of AmEx’s business proved resilient",
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      "text": "“Every trust department in the United States panicked,” explained this 35-year-old hedge fund manager, “the stock just poured out”",
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      "kind": "quote",
      "text": "“As described in other sections of this report, the extremely complex warehousing situation has not interfered with the continued growth and attainment of record highs in our main lines of business” - American Express, 1964 Annual Report",
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      "text": "\"Every trust department in the United States panicked,\" explained this 35-year-old hedge fund manager, \"the stock just poured out\" — 35-year-old hedge fund manager (Warren Buffett); \"As described in other sections of this report, the extremely complex warehousing situation has not interfered with the continued growth and attainment of record highs in our main lines of business\" — American Express, 1964 Annual Report",
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      "kind": "title",
      "text": "The Great Salad Oil Scandal of 1963 (cont'd.)",
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