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  "docSlug": "40ee9cb99aa1",
  "documentTitle": "Huntsman Corporation (HUN)",
  "authorId": "03_Starboard_Value",
  "authorName": "Starboard Value",
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  "presentationDate": "2022-03-02 00:00:00",
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  "notes": "Uses a screenshot of a competitor's presentation to highlight the 'arbitrary' nature of their data selection.",
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      "kind": "callout",
      "text": "Arbitrary and Narrow Benchmark: Huntsman is benchmarking against a narrow set of companies to fit its narrative.",
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      "kind": "callout",
      "text": "Arbitrary Time Period: Huntsman arbitrarily selects ONE time period to measure TSR but provides no justification for why its five-year track record is the most relevant for shareholders.",
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      "text": "We believe Huntsman is attempting to deceive shareholders regarding its track record on relative TSR.",
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      "text": "Excerpt From Huntsman Investor Presentation",
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      "text": "Total Shareholder Return",
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      "text": "Huntsman cites five-year TSR as evidence of a “track record of creating shareholder value” but does not justify why five-year is notable, fails to analyze any other time period, and selects arbitrary companies as benchmarks, all to fit a narrative seemingly designed to deceive shareholders.",
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      "kind": "source-note",
      "text": "Source: Public company filings.",
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      "text": "We believe Huntsman is attempting to deceive shareholders regarding its track record on relative TSR.",
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      "kind": "title",
      "text": "We Believe Huntsman Is Trying to Obscure Its History of Poor TSR by Using Arbitrary Benchmarks and Arbitrary Time Periods",
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