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  "documentTitle": "Hess Corporation (HES)",
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  "authorName": "Elliott Management",
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      "text": "Over the last five years, Hess has underperformed the S&P 500 by 33% to 58%, despite Brent oil prices increasing over 20% during this period(1) – 3x the performance of the S&P 500(2)",
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      "text": "Over the last five years, Hess has underperformed the S&P 500 by 33% to 58%, despite Brent oil prices increasing over 20% during this period(1) – 3x the performance of the S&P 500(2)",
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      "text": "Source: Bloomberg. 1. S&P500 total return calculated using SPDR S&P 500 ETF (SPY); 1 month forward Brent price; From 1/25/2008 to 1/25/2013, Brent increased by 25%, from 11/29/2007 to 11/28/2012, Brent increased by 21%. 2. As of 11/28/12, date before which Elliott began to purchase a substantial amount of Hess stock. 3. As of 1/25/13, date before which Elliott intention to nominate directors became public.",
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      "text": "And Even If Hess Does Want to Be Compared Against the S&P 500 It Has Underperformed Dramatically Over the Last 5 Years",
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