{
  "docId": "019dd923-622c-750b-8b9b-c622cb82b5b7",
  "docSlug": "62936067f4f8",
  "documentTitle": "Pershing Square Holdings Portfolio (multi-position) (PSH)",
  "authorId": "01_Pershing_Square",
  "authorName": "William Ackman",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2017-01-26 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 58,
  "pageCount": 95,
  "prevPage": 57,
  "nextPage": 59,
  "slideType": "quote_slide",
  "function": "cite_precedent",
  "density": "dense",
  "nDataPoints": 0,
  "notes": "The slide uses a quote to establish political alignment and the necessity of reform.",
  "elementsJson": [
    "headline_text",
    "logo_grid",
    "callout_box",
    "quote_block"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9b-c622cb82b5b7/58",
  "deckHref": "/decks/019dd923-622c-750b-8b9b-c622cb82b5b7",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9b-c622cb82b5b7.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-c622cb82b5b7#slide-58",
  "components": [
    {
      "bbox": {
        "h": 0.08,
        "w": 0.78,
        "x": 0.18,
        "y": 0.2
      },
      "kind": "callout",
      "text": "We believe the new administration will successfully reform Fannie and Freddie (cont.)",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "513f9093-7be3-47f2-b0d1-6330129ab2d1",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.12,
        "w": 0.13,
        "x": 0.04,
        "y": 0.2
      },
      "kind": "image",
      "text": "Fannie Mae Freddie Mac",
      "attrs": null,
      "subkind": "logo",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "1d197558-48e8-4302-af35-1ba07f5ee679",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.78,
        "x": 0.18,
        "y": 0.35
      },
      "kind": "paragraph",
      "text": "Steve Mnuchin, Treasury Secretary nominee, on Jan. 19, 2017:",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "fd5f37e1-e62e-440d-8600-adb2e3136124",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.45,
        "w": 0.78,
        "x": 0.18,
        "y": 0.42
      },
      "kind": "quote",
      "text": "For very long periods of time, I think that Fannie and Freddie have been well run without creating risk to the government, as well as they’ve played an important role...I believe these are very important entities to provide the necessary liquidity for housing finance and what I’ve committed to is that I will work with both of the Democrats and Republicans. What I’ve said and I believe, we need housing finance reform, so we shouldn’t just leave Fannie and Freddie as is for the next 4 or 8 years under government control, without a fix. I believe we can find a bipartisan fix for these so on the one hand we don’t end up with a giant bailout, on the other hand that we don’t run the risk of completely limiting housing finance.",
      "attrs": null,
      "subkind": "pull-quote",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d2b05bb1-8885-41fc-a3c8-b36803142494",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "quote",
      "text": "“For very long periods of time, I think that Fannie and Freddie have been well run without creating risk to the government, as well as they’ve played an important role...I believe these are very important entities to provide the necessary liquidity for housing finance and what I’ve committed to is that I will work with both of the Democrats and Republicans. What I’ve said and I believe, we need housing finance reform, so we shouldn’t just leave Fannie and Freddie as is for the next 4 or 8 years under government control, without a fix. I believe we can find a bipartisan fix for these so on the one hand we don’t end up with a giant bailout, on the other hand that we don’t run the risk of completely limiting housing finance.” — Steve Mnuchin, Treasury Secretary nominee, on Jan. 19, 2017",
      "attrs": null,
      "subkind": null,
      "toolName": "Authority citation",
      "toolSlug": "authority-citation",
      "confidence": null,
      "componentId": "019dd953-70f8-7007-94db-22cac0bf20b9",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.35,
        "x": 0.04,
        "y": 0.08
      },
      "kind": "title",
      "text": "FNMA and FMCC",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "3a898944-b1d8-4a5c-b4de-dc58312c22c9",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "authority-citation",
      "slug": null,
      "matchId": "ef9ebc97-9055-49ce-ac1c-6796eb2aafbb",
      "evidence": "Uses a quote from a high-ranking government official to validate the investment thesis.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 95,
      "from": 15,
      "beatId": "4730cd1b-0114-4ab3-afd3-5c0e7aee6451",
      "arcName": "Monroe's Motivated Sequence",
      "arcSlug": "monroes-sequence",
      "beatName": "Satisfaction",
      "beatSlug": "monroes-sequence-satisfaction",
      "evidence": "The document provides a comprehensive update on the fund's current portfolio, highlighting progress and positive returns.",
      "position": 2,
      "confidence": 0.8,
      "parentBeatName": "Turn",
      "parentBeatSlug": "turn"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}