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  "authorName": "Pershing Square Capital Management",
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  "presentationDate": "2014-04-01 00:00:00",
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  "notes": "The slide uses a famous book excerpt to establish a precedent for the 'Outsider' CEO archetype.",
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      "kind": "paragraph",
      "text": "- William N. Thorndike, Jr., The Outsiders",
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      "text": "Each ran a highly decentralized organization; made at least one very large acquisition; developed unusual, cash flow-based metrics; and bought back a significant amount of stock. None paid meaningful dividends... All received the same combination of derision, wonder, and skepticism from their peers and the business press. All also enjoyed eye-popping, credulity-straining performance over very long tenures...",
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      "text": "These eight CEOs were not charismatic visionaries, nor were they drawn to grandiose strategic pronouncements. They were practical and agnostic in temperament, and they systematically tuned out the noise of conventional wisdom by fostering a certain simplicity of focus, a certain asperity in their cultures and their communications.",
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      "text": "Mike Pearson is an Outsider CEO",
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