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Slide 1
The title is a metaphorical call to action, suggesting the need for timely investment decisions.Mall REIT sector (long General Growth Properties) (GGP) · Pershing Square Capital Management
Conference presentation Activist investor Beat · Attention1 hit
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Includes a footnote citation to Warren Buffett.Mall REIT sector (long General Growth Properties) (GGP) · Pershing Square Capital Management
Conference presentation Activist investor Beat · Attention1 hit
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The slide uses a chevron-style graphic to indicate a transition to a later time period.Mall REIT sector (long General Growth Properties) (GGP) · Pershing Square Capital Management
Conference presentation Activist investor Beat · Attention1 hit
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Mall REIT sector (long General Growth Properties) (GGP)Mall REIT sector (long General Growth Properties) (GGP) · Pershing Square Capital Management
Conference presentation Activist investor Beat · Interest1 hit
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The slide uses a quote from Ben Bernanke to frame the economic data.Mall REIT sector (long General Growth Properties) (GGP) · Pershing Square Capital Management
Conference presentation Activist investor Beat · Interest1 hit
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The chart uses a green arrow to visually emphasize the improvement from October to November.Mall REIT sector (long General Growth Properties) (GGP) · Pershing Square Capital Management
Conference presentation Activist investor Beat · Interest1 hit
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The chart includes a forecast line extending beyond the historical data.Mall REIT sector (long General Growth Properties) (GGP) · Pershing Square Capital Management
Conference presentation Activist investor Beat · Interest1 hit
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Mall REIT sector (long General Growth Properties) (GGP)Mall REIT sector (long General Growth Properties) (GGP) · Pershing Square Capital Management
Conference presentation Activist investor Beat · Interest1 hit
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The chart uses a trailing three-month average to smooth volatility.Mall REIT sector (long General Growth Properties) (GGP) · Pershing Square Capital Management
Conference presentation Activist investor Beat · Interest1 hit
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Mall REIT sector (long General Growth Properties) (GGP)Mall REIT sector (long General Growth Properties) (GGP) · Pershing Square Capital Management
Conference presentation Activist investor Beat · Situation & Context1 hit
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The slide uses a line chart for interest rate spreads and a stacked bar chart for bond issuance volumes.Mall REIT sector (long General Growth Properties) (GGP) · Pershing Square Capital Management
Conference presentation Activist investor Beat · Situation & Context1 hit
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The chart highlights the index value of 1,106 at the end of the period.Mall REIT sector (long General Growth Properties) (GGP) · Pershing Square Capital Management
Conference presentation Activist investor Beat · Situation & Context1 hit
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The chart shows a clear upward trend from a low point in March 2009 to a value of $45 by December 2009.Mall REIT sector (long General Growth Properties) (GGP) · Pershing Square Capital Management
Conference presentation Activist investor Beat · Situation & Context1 hit
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Mall REIT sector (long General Growth Properties) (GGP)Mall REIT sector (long General Growth Properties) (GGP) · Pershing Square Capital Management
Conference presentation Activist investor Beat · Situation & Context1 hit
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The slide uses a table to contrast recent debt issuance rates (6.92% average) against older issuances (9.20% average).Mall REIT sector (long General Growth Properties) (GGP) · Pershing Square Capital Management
Conference presentation Activist investor Beat · Situation & Context1 hit
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Mall REIT sector (long General Growth Properties) (GGP)Mall REIT sector (long General Growth Properties) (GGP) · Pershing Square Capital Management
Conference presentation Activist investor Beat · Situation & Context1 hit
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The chart uses dual lines to contrast equity vs debt issuance trends over a 20-year period.Mall REIT sector (long General Growth Properties) (GGP) · Pershing Square Capital Management
Conference presentation Activist investor Beat · Situation & Context1 hit
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The chart tracks the average leverage ratio (total liabilities net of cash as a % of current value of assets) for a specific group of REITs.Mall REIT sector (long General Growth Properties) (GGP) · Pershing Square Capital Management
Conference presentation Activist investor Beat · Situation & Context1 hit
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Mall REIT sector (long General Growth Properties) (GGP)Mall REIT sector (long General Growth Properties) (GGP) · Pershing Square Capital Management
Conference presentation Activist investor Beat · Situation & Context1 hit
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The slide uses a dual-line chart to argue for further cap rate compression based on the historical spread between REIT cap rates and corporate bond yields.Mall REIT sector (long General Growth Properties) (GGP) · Pershing Square Capital Management
Conference presentation Activist investor Beat · Problem & ComplicationLoop · Cost Of Inaction1 hit
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Mall REIT sector (long General Growth Properties) (GGP)Mall REIT sector (long General Growth Properties) (GGP) · Pershing Square Capital Management
Conference presentation Activist investor Beat · Problem & ComplicationLoop · Cost Of Inaction1 hit
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The slide uses a table to show how specific acquisitions (Eddie Bauer, Ritz Camera, Filene's, J. Jill) mitigated store closures.Mall REIT sector (long General Growth Properties) (GGP) · Pershing Square Capital Management
Conference presentation Activist investor Beat · Problem & ComplicationLoop · Cost Of Inaction1 hit
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Mall REIT sector (long General Growth Properties) (GGP)Mall REIT sector (long General Growth Properties) (GGP) · Pershing Square Capital Management
Conference presentation Activist investor Beat · Problem & ComplicationLoop · Cost Of Inaction1 hit
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The slide highlights that despite industry 'right-sizing' trends, specific retail concepts showed store count growth.Mall REIT sector (long General Growth Properties) (GGP) · Pershing Square Capital Management
Conference presentation Activist investor Beat · Problem & ComplicationLoop · Cost Of Inaction1 hit
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The slide uses a quote to frame the opposition's stance, likely to be countered in subsequent slides.Target Corporation (TGT) · William Ackman
Activist deck Activist investor Beat · Solution (Provide relief)1 hit
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The slide uses a rhetorical question as a title to challenge the status quo or preempt skepticism regarding the nominees.Target Corporation (TGT) · William Ackman
Activist deck Activist investor Beat · Solution (Provide relief)1 hit
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Target Corporation (TGT)Target Corporation (TGT) · William Ackman
Activist deck Activist investor Beat · Solution (Provide relief)1 hit
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Target Corporation (TGT)Target Corporation (TGT) · William Ackman
Activist deck Activist investor Beat · Solution (Provide relief)1 hit
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The slide uses a 3-row comparison table to structure the voting philosophy.Target Corporation (TGT) · William Ackman
Activist deck Activist investor Beat · Solution (Provide relief)1 hit
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The slide uses a color-coded table to present the nominees and their respective areas of expertise.Target Corporation (TGT) · William Ackman
Activist deck Activist investor Beat · Solution (Provide relief)1 hit