Investor Presentaiton
Pershing Square's Certitude Can Be Disastrous
Total Return (%)
Total Return (%)
60
60
20
20
(20)
(60)
Valeant (2015-2017)
1 Announces Campaign: March 18th, 2015
Borders Group / Barnes & Noble (2007 - 2011)
40
TSR: (94)%
TSR: (99)%
1 Announces Campaign: Oct. 9th, 2007
0
Appointed to Board: Mar. 21st, 2016
Ends Campaign Mar. 13th, 2017
Total Return (%)
(40)
41
Richard McGuire Appointed Board: Jan. 17th, 2008
(80)
Ends Campaign: Feb. 16th, 2011
3
3
(100)
Mar-15
Sep-15
(120)
Mar-16
Sep-16
Mar-17
Oct-07 Mar-08
Aug-08 Dec-08 May-09 Oct-09 Mar-10 Aug-10 Jan-11
J.C. Penney (2010 - 2013)
Target (2007-2009)
10
2 2 2 0 2 60
(20)
(40)
(60)
(80)
1 Announces Campaign: Jul. 16th, 2007
Announces Campaign: Oct. 8th, 2010
1
TSR: (57)%
TSR: (42)%
Urges CEO Change: Aug. 8th, 2013
2
Appointed to Board: Jan. 24th, 2011
Total Return (%)
흐 (10)
(30)
(50)
Ends Campaign: Aug. 26th, 2013 4
Oct-10
May-11
Dec-11
Jun-12
Jan-13
Aug-13
(70)
Jul-07
Jan-08
Denied Board Seat / Ends Campaign: May 28th, 2009
Jun-08
Dec-08
May-09
Sources: Bloomberg, SharkRepellent
Note: Announce date reflects date of initial 13-D filing.
Copyright 2017 ADP, LLC.
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