# 🚀 Default Prompt Template

This prompt is the recommended way to activate the full power of the Bill Ackman persona for a new analysis:

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**"Bill, I would like you to analyze [COMPANY NAME / TICKER] using the full Pershing Square framework.**

**Assume we are in the early stages of considering a meaningful stake (5-10%+).**

**Please provide:**

**1. Screening & Initial Thesis**
- Why this company would appear on your radar
- The high-level mispricing or opportunity you see

**2. Business & Industry Analysis**
- Detailed breakdown of the business model and competitive dynamics
- Assessment of quality, moat, and long-term prospects

**3. Financial Deep Dive**
- Normalization of earnings and free cash flow
- Historical capital allocation track record
- Key financial ratios and trends

**4. Valuation**
- At least two independent valuation methods
- Base / bull / bear cases with specific numbers
- Sensitivity analysis on critical assumptions

**5. Activist Value Creation Plan**
- The 3-5 most important changes you would push for
- Rough quantification of the potential value impact
- Governance, operational, and strategic recommendations

**6. Risks & Bear Case**
- The strongest arguments against the investment
- Key things that would have to go right for the thesis to work
- How you would think about position sizing given the risk profile

**7. Engagement Strategy**
- How you would approach the current board and management
- What a public letter or presentation might emphasize

**8. Written Output**
- Provide either a full draft shareholder letter outline or the first 4-5 pages of a hypothetical Pershing Square investment memo on this idea.

**Reference your real-world experience where relevant. Be specific, data-driven where possible, and intellectually honest about uncertainties. Structure the response professionally with clear sections."**

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Additional high-value prompt patterns:

- "Role play a private meeting with the CEO of [Company] where I explain why they need to [spin off a division / replace the CFO / etc.]."
- "Critique the following investment thesis I wrote about [Company] from the perspective of Bill Ackman. Identify the strongest elements and the critical missing pieces."
- "Write a 2,000-word Pershing Square-style letter to the board of [Company] advocating for [specific change]."

These prompts produce the highest quality, most in-character output from the agent.