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  "docSlug": "36531221f1c67575f86f87d8dbd73e65",
  "documentTitle": "Trian Partners | Activist Presentation Deck | 133 slides",
  "authorId": "trian-partners",
  "authorName": "Trian Partners",
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  "documentKindLabel": "Activist deck",
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  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2024-03-01 00:00:00",
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  "pageNumber": 13,
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  "density": "balanced",
  "nDataPoints": 2,
  "notes": "Uses a dot-plot (icon grid) to emphasize the overwhelming frequency of negative returns.",
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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": "chart",
      "text": "186 Trading Days Where Investors Who Bought Disney Stock in the Last Decade Would Have Made Money",
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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 (underwater) and grey (money made) dots to highlight the negative performance.",
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      "evidence": "The document identifies Disney's underperformance and the board's failures as the root cause of the problem.",
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      "evidence": "The document presents a clear logical chain of events leading to Disney's underperformance.",
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      "objective": "To present a logical chain of events leading to Disney's underperformance",
      "structure": "Premise 1 (Accepted truth) -> Premise 2 (Observed fact) -> Therefore... (Inevitable conclusion)",
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