{
  "docId": "019dd923-622c-750b-8b9b-e4913ec817c7",
  "docSlug": "ec290ad54e91",
  "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": "2019-02-13 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 37,
  "pageCount": 58,
  "prevPage": 36,
  "nextPage": 38,
  "slideType": "before_after",
  "function": "illustrate_case",
  "density": "balanced",
  "nDataPoints": 8,
  "notes": "The chart highlights the impact of Pershing Square's involvement and subsequent leadership changes on the stock price.",
  "elementsJson": [
    "headline_text",
    "callout_box",
    "line_chart",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9b-e4913ec817c7/37",
  "deckHref": "/decks/019dd923-622c-750b-8b9b-e4913ec817c7",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9b-e4913ec817c7.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-e4913ec817c7#slide-37",
  "components": [
    {
      "bbox": {
        "h": 0.07,
        "w": 0.9,
        "x": 0.05,
        "y": 0.18
      },
      "kind": "callout",
      "text": "CMG's share price increased 49% in 2018 and 37% year-to-date in 2019",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7efe9ae5-67a4-4256-9b04-d5b74b848428",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.55,
        "w": 0.9,
        "x": 0.05,
        "y": 0.3
      },
      "kind": "chart",
      "text": "CMG share price performance from 8/4/2016 to 2/12/2019",
      "attrs": null,
      "subkind": "line",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7214362c-4788-47ae-98a4-efc7ea7e2e2f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "share price: $594",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-5376-7749-9ed8-71a67053bf3f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.9,
        "x": 0.05,
        "y": 0.9
      },
      "kind": "source-note",
      "text": "Note: The performance of CMG's share price is provided for illustrative purposes only and is not an indication of future returns of the Pershing Square funds. *Average cost at announcement date. Please see the additional disclaimers and notes to performance results at the end of the presentation. (1) As of 2/12/2019",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ecfe4df9-6a0b-4c76-8e6b-14f12a5d9403",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.92,
        "x": 0.04,
        "y": 0.08
      },
      "kind": "title",
      "text": "CMG Share Price Performance Since Inception",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b1ace341-e3f2-4c85-a367-c9c0d30e8c3d",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "before-after-framing",
      "slug": null,
      "matchId": "1058d64f-15eb-4b08-b952-ac944d257c44",
      "evidence": "The slide contrasts the share price performance before and after specific activist interventions.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 58,
      "from": 21,
      "beatId": "04537668-1e7d-494f-bbdd-944900c3c0b3",
      "arcName": "Monroe's Motivated Sequence",
      "arcSlug": "monroes-sequence",
      "beatName": "Action",
      "beatSlug": "monroes-sequence-action",
      "evidence": "Business and organizational update, portfolio update, and Q&A",
      "position": 3,
      "confidence": 0.8,
      "parentBeatName": "Resolution",
      "parentBeatSlug": "resolution"
    }
  ],
  "loops": [
    {
      "to": 49,
      "from": 37,
      "name": "Before After",
      "slug": "21-before-after",
      "bestFor": "Product demos, process improvements, ROI justification",
      "matchId": "1d8dc615-52ef-485e-96b1-f6aa3152a731",
      "evidence": "Share price increases for various portfolio companies",
      "position": 1,
      "objective": "Show share price appreciation",
      "structure": "The Old Way (Pain) -> The Moment of Change -> The New Way (Glory) -> The Measurable Delta",
      "confidence": 0.7,
      "description": "Show the dramatic contrast between the old way and the new way through side-by-side comparison"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}