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  "documentTitle": "Trian Partners | Activist Presentation Deck | 23 slides",
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  "authorName": "Trian Partners",
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  "presentationDate": "2019-11-01 00:00:00",
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  "notes": "The chart highlights Ferguson in red and uses a dashed box to emphasize its position relative to the peer average line.",
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      "kind": "chart",
      "text": "Share Turnover (90-Day Avg. Daily Volume / Total Shares Outstanding)",
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      "kind": "list",
      "text": "Investors in Ferguson's U.S.-listed peers benefit from higher trading volumes and increased liquidity as compared with Ferguson's shareholders",
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      "text": "Source: FactSet. Data as of November 5, 2019.",
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      "kind": "title",
      "text": "Why is Ferguson Mispriced? We Believe Its UK Listing Impacts Trading Volumes",
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