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      "text": "Between May 1, 2008 and November 23, 2015, the date Elliott filed its 13-D and brought the prospect of regime change to the fore, Alcoa had 1,905 trading days. On 99% of those days, shareholders would have been better off buying the S&P 500 index as opposed to Alcoa stock.",
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      "text": "108 Trading Days Where Investors Would Have Been Better-Off Buying Alcoa Stock Than the S&P 500 Index",
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      "text": "2033 Trading Days Where Investors Would Have Been Better-Off Buying the S&P 500 Index Than Alcoa stock",
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      "text": "28 Trading Days Where Investors Would Have Been Better-Off Buying Alcoa Stock Than the S&P 500 Index Prior to Elliott's 13D",
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      "text": "trading days underperformance: 99%",
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      "text": "Between May 1, 2008 and November 23, 2015, the date Elliott filed its 13-D and brought the prospect of regime change to the fore, Alcoa had 1,905 trading days. On 99% of those days, shareholders would have been better off buying the S&P 500 index as opposed to Alcoa stock. Between May 1, 2008 and October 31, 2016, the day of the split, Alcoa had 2,141 trading days. On 95% of those days, shareholders would have been better off buying the S&P 500 Index",
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      "text": "Source: Bloomberg. Note: Assumes shares are held from purchase date through October 31, 2016",
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