{
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  "docSlug": "e20db4b3cafd",
  "documentTitle": "The Walt Disney Company (DIS)",
  "authorId": "06_Trian_Partners",
  "authorName": "Nelson Peltz",
  "documentKindSlug": "activist-deck",
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  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2024-03-01 00:00:00",
  "orientation": "landscape",
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  "pageNumber": 13,
  "pageCount": 133,
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  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "balanced",
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  "notes": "Uses a dot-matrix visualization to contrast losing vs. winning trading days.",
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  "slideHref": "/slides/019dd923-622c-750b-8b9d-40442a8d99ca/13",
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      "kind": "chart",
      "text": "186 Trading Days Where Investors Who Bought Disney Stock in the Last Decade Would Have Made Money",
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      "kind": "chart",
      "text": "2,333 Trading Days Where Investors Who Bought Disney Stock in the Last Decade Would be Underwater",
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      "kind": "paragraph",
      "text": "During the ten years leading up to October 6, 2023 (the trading day prior to Trian resurfacing), there have been 2,519 trading days. If a Disney shareholder bought stock on 93% of those days, their shares would be worth less than they paid.",
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      "kind": "source-note",
      "text": "Source: FactSet as of 10/06/23. Note: Assumes shares are held from purchase date applying each respective closing price through 10/06/23. 10/06/23 represents the trading day prior to the WSJ article titled \"Nelson Peltz Boosts Disney Stake, Seeks Board Seats\" by Lauren Thomas and Robbie Whelan reporting on Trian's increased beneficial ownership in Disney shares and expected request for Board representation.",
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      "kind": "title",
      "text": "Buying Disney Stock Over the Last 10 Years Has Been a Losing Proposition",
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      "evidence": "Visual contrast between red (losing) and grey (winning) dots to emphasize the negative performance.",
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      "evidence": "Slides highlighting peer gap, expose contradiction, preempt rebuttal, and further expose contradiction agitate the situation by emphasizing Disney's poor performance and board's failures.",
      "position": 1,
      "confidence": 0.8,
      "parentBeatName": "Development",
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  "loops": [
    {
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      "name": "Cost Of Inaction",
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      "evidence": "Buying Disney Stock Over the Last 10 Years Has Been a Losing Proposition, and The Board's Succession Failures Have Created a Leadership Void, an Inconsistent Strategy, and Organizational Dysfunction.",
      "position": 0,
      "objective": "To highlight the cost of inaction by Disney's board.",
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      "confidence": 0.7,
      "description": "Quantify what happens if the audience does nothing"
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      "evidence": "Disney's massive revenue scale is not translating into competitive EBITDA margins compared to its peers. The Board Has Overseen Poor Shareholder Returns.",
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      "objective": "To break down Disney's performance into comparable parts.",
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