Los Angeles (ots/PRNewswire) – Proceeds will fuel research and development and expand the global wealth management business
O’Neil Capital Management (OCM) announced today that it has entered into an agreement to sell its stake in Investor’s Business Daily (IBD) to News Corp. has met. The official approval for the sale is still pending.
IBD (TM) was founded in 1984 in Los Angeles, California by William J. O’Neil, a legendary investor who pioneered the CAN SLIM (TM) investment method. In the wake of IBD’s inception, O’Neil brought breakthrough analytics and data-driven stock information to the public that could not be found in any other financial media. IBD was initially founded as a daily newspaper and today functions primarily as a digital service provider, which has recorded double-digit growth in sales with digital subscriptions in recent years. Service offerings currently include Investors.com, MarketSmith (TM), Leaderboard (TM), Swing Trader (TM), IBD Live (TM), investment podcasts and a weekly print edition.
“The decision to sell IBD was a difficult one,” said OCM Chief Executive Officer W. Scott O’Neil. “I believe that IBD’s retail investor analytics and research capabilities are industry-leading. IBD has healthy ROI and a growing subscriber base. This is the result of entrepreneurial strategies that are helping the changing landscape of investment, media and fintech Marketplaces. We believe that this transaction will benefit both companies when we combine IBD’s unique technical and analytical capabilities with News Corp’s already impressive portfolio of media offerings. “
OCM will reinvest the proceeds from the IBD sale in the remaining subsidiaries. A company like IBD is not up for sale very often and we have been in the very fortunate financial position of not having to sell. However, the divestment of IBD will allow us to invest substantial capital in several “visionary” initiatives that are critical to the future growth of our company, both in the US and abroad, “said Steven Birch, Chief Investment Officer of OCM. “We are particularly keen to accelerate new research and development related to our algorithmic investment strategies. We are leaving the US consumer market and we look forward to growing our domestic and international corporate customer business. In particular, we look forward to significant growth in our global wealth management business. “
OCM’s newest company, O’Neil Global Advisors (OGA), is an SEC registered investment advisor. UCI offers discretionary and systematic investment strategies using quantitative models and algorithms. The data scientists and engineers use a “data lake” that contains more than 140 years of stock market information. The aim is to develop investment strategies that are based on the company’s own analysis. OGA manages the following private investment partnerships: Chameleon, a classic market timing strategy; Raven, a long / short US equity growth strategy; Timberwolf, an alternative risk premium strategy that uses proprietary quantitative factors; and Condor, a long / short mid-frequency equity trading strategy. OGA expects an ETF investment index to be launched this year. For more information, please visit: https://www.oneilglobaladvisors.com/.
William O’Neil Investment Management Shanghai (WONIM Shanghai) is the wholly foreign-owned William O’Neil + Company based in Shanghai, China. In April 2020, WONIM Shanghai received a private fund manager license from Chinese regulators, which enables foreign companies to develop funds invested in onshore assets and sell them to domestic qualified investors, including institutional and high net worth investors. The company is only the 27th foreign company to receive such approval. The company intends to bring quant-based investment strategies, including O’Neil’s CAN SLIM (TM) method, to the China wealth management market. In January 2021, WONIM Shanghai launched its first private onshore fund. Further information can be found at: https://www.williamoneil.cn/.
O’Neil Capital Management India Pvt. Ltd. (OCM India) will launch the O’Neil Quant Fund, its first multi-strategy algorithmic fund, in April 2021. The O’Neil Quant Fund is registered with the Securities and Exchange Board of India (SEBI) as a Category III Alternative Investment Fund. Further information can be found at: https://oneilcapital.in/.
William O’Neil + Company is an SEC registered investment advisor providing national and international equity research, recommendations and advice to many of the world’s leading institutional asset managers. William O’Neil + Company’s recommendations cover more than 70,000 global stocks, funds and indices and draw on more than 58 years of experience in equity research using the O’Neil methodology, a unique combination of technical and fundamental analysis, which has proven itself over the past half century in finding the best performers on the market. William O’Neil + Company is currently growing in the institutional market. Digital access to William O’Neil + Company Research is available through PANARAY®, the company’s flagship stock analysis platform for desktop and mobile devices. William O’Neil + Company also offers a range of world class consulting and conference services, all of which are part of the bespoke consulting offering. Further information can be found at: https://www.williamoneil.com/.
William O’Neil Securities is a licensed broker / dealer providing trading services to institutional clients such as pension and mutual funds, hedge funds, insurance companies and corporate clients. The company’s goal is to support its customers in maximizing their performance through its trading skills and through the anonymity they need. The company’s trading desk provides expertise on domestically traded companies on the NYSE and NASDAQ stock exchanges. William O’Neil Securities is regulated by the SEC and FINRA. For more information, please visit: https://www.oneilsecurities.com/.
O’Neil Digital Solutions (ODS) is a leading IT consultancy specializing in optimizing complex end-to-end business process systems for financial services, digital media, health and transportation. ODS offers customers of all sizes and industries individually tailored software engineering, system integration and infrastructure management services of high quality. From large mass communication projects to highly secure and confidential data analysis, ODS has a wide range of proven technical functions and a powerful CCM and CXM platform that enable companies to carry out complex digital transformations and better respond to the individual needs and wishes of their customers. For more information, please visit: https://www.oneildigitalsolutions.com/.
William O’Neil (Shanghai) (WON Shanghai) is the China-based research and development center of William O’Neil + Company and offers an extensive range of research and development services for the individual divisions of the group. WON Shanghai has a strong IT team dedicated to new product development and ongoing support of the flagship research tool PANARAY® from William O’Neil + Company. Further information can be found at: https://www.williamoneil.cn/.
William O’Neil India Pvt Ltd (WON India) is a registered investment advisor regulated by the Securities and Exchange Board of India. WON India collects and analyzes corporate financial data on more than 70,000 global stocks with a team of experienced equity analysts who provide analysis recommendations to a global customer base. WON India also offers Indian private investors investment tools and training through the MarketSmith India Investment App. Further information can be found at: https://williamoneilindia.com/.
INFORMATION ABOUT OCM
O’Neil Capital Management is a private company and family office with investment interests in wealth management, real estate, printing, digital media, brokerage, investment advice and information technology services. Its investments and businesses are managed through wholly owned subsidiaries. https://www.oneilcapital.com
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ONeil Capital Management Announces Divestment Investors Business Daily