Proceeds will boost R&D and expand global asset management business
LOS ANGELES, March 25, 2021 /PRNewswire/ — O’Neil Capital Management (OCM) announced today that it reached an agreement to divest its ownership interest in Investor’s Business Daily (IBD) to News Corp. The sale is currently pending regulatory approval.
IBD™ was founded in Los Angeles, California in 1984 by William J. O’Neil, a legendary investor synonymous with the CAN SLIM™ investment method. In creating IBD, Mr. O’Neil introduced the general public to groundbreaking analytics and data-driven stock information not found in other financial media. While IBD started as a daily newspaper, it now functions primarily as a digital service provider, experiencing double-digit growth in digital subscription revenue in recent years. Its service offerings currently include Investors.com, MarketSmith™, Leaderboard™, Swing Trader™, IBD Live™, investing podcasts, and a weekly print edition.
"The decision to divest IBD was a difficult one," says OCM Chief Executive Officer W. Scott O’Neil. "I believe IBD’s analytic and research capabilities are best-in-class for the retail investor. IBD has a healthy profit margin and a growing subscriber base, the result of entrepreneurial strategies it deployed to capitalize on the shifting landscape of the investment, media, and fintech marketplaces. In adding IBD’s unique technical and analytical capabilities to News Corp’s already formidable portfolio of media properties, we believe this transaction will greatly benefit both companies."
OCM will re-invest the proceeds from the IBD sale into its remaining subsidiaries. "A company like IBD does not come up for sale very often and we were in the very fortunate financial position of not having to sell. However, the IBD divestiture will allow us to inject significant capital into several ‘blue sky’ initiatives we have identified that are critical for our firm’s future growth, both in the United States and abroad," says OCM’s Chief Investment Officer Steven Birch. "We’re particularly interested in accelerating new research and development related to our algorithmic investing strategies. While we are exiting the B2C channel in the United States, we look forward to growing our domestic and international B2B businesses. Specifically, we look forward to significant growth in our global asset management businesses."
OCM’s newest venture, O’Neil Global Advisors (OGA), is an SEC Registered Investment Advisor. OGA offers discretionary and systematic equity investment strategies using quantitative modeling and algorithms. Its data scientists and engineers utilize a data lake containing more than 140 years of stock market information to build investment strategies that leverage proprietary research. OGA manages the following private investment partnerships: Chameleon, a classic market timing strategy; Raven, a long/short U.S. equity growth strategy; Timberwolf, an alternative risk premia strategy that uses proprietary quantitative factors; and Condor, a medium frequency long/short U.S. equity trading strategy. OGA expects to launch an ETF investment index later this year. More information can be found at: https://www.oneilglobaladvisors.com/.
William O’Neil Investment Management Shanghai (WONIM Shanghai) is William O’Neil + Company’s wholly foreign-owned enterprise in Shanghai, China. In April 2020, WONIM Shanghai obtained a Private Fund Manager license from Chinese regulators, which allows foreign entities to develop and sell funds investing in onshore assets to domestic qualified investors, including institutional and high-net-worth investors—only the 27th foreign firm to gain such approval. The firm aims to bring quant-based investment strategies, including O’Neil’s CAN SLIM™ methodology, to China’s asset management market. In January 2021, WONIM Shanghai launched its first onshore private fund. More 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 in April 2021, its first multi-strategy algorithmic fund. The O’Neil Quant Fund is registered with SEBI as a category III Alternative Investment Fund. More information can be found at: https://oneilcapital.in/ .
William O’Neil + Company is an SEC Registered Investment Advisor providing domestic and international equity research, recommendations, and consulting to many of the world’s top institutional money managers. William O’Neil + Company’s recommendations cover more than 70,000 global equities, funds, and indices and draw on a rich history of more than 58 years of equity research experience using the O’Neil Methodology, a unique combination of technical and fundamental analysis proven over the past half-century to identify outperformers in the market. William O’Neil + Company is currently growing in the institutional marketplace. Digital access to William O’Neil + Company research is available through PANARAY®, the company’s flagship equity research platform for desktop and mobile. William O’Neil + Company also provides a range of high-touch advisory and conference services, all part of its bespoke, consultative service offering. More information can be found at: https://www.williamoneil.com/.
William O’Neil Securities is a licensed broker/dealer providing trading services to institutional clients, including pension and mutual funds, hedge funds, insurance companies, and corporations. The firm’s mission is to assist its clients in maximizing their performance through its trading expertise and by providing the anonymity its clients expect. The firm’s trading desk offers expertise on domestically traded companies on the NYSE and NASDAQ exchanges. William O’Neil Securities is regulated by the SEC and FINRA. More information can be found at: https://www.oneilsecurities.com/.
O’Neil Digital Solutions (ODS) is a leading IT consulting firm specializing in the optimization of complex end-to-end business process systems for the financial services, digital media, healthcare, and transportation industries. ODS provides high-touch bespoke software engineering, systems integration, and infrastructure management services to clients of all sizes and industries. From large-scale mass communication projects to highly secure and confidential data analytics, ODS has a broad set of proven technical capabilities and a powerful CCM & CXM platform that help companies make complex digital transformations and better respond to their customers’ unique needs and wants. More information can be found at: https://www.oneildigitalsolutions.com/.
William O’Neil (Shanghai) (WON Shanghai) is the China-based R&D hub of William O’Neil + Company, providing a full range of R&D services for the group’s business divisions. WON Shanghai has a strong information technology team engaged in new product development and continuous support of William O’Neil + Company’s flagship research tool PANARAY®. More 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 the corporate financial data of more than 70,000 global equities with a team of experienced equity analysts who provide research recommendations to a worldwide client base. WON India also provides investment tools and education to the Indian retail investor via the MarketSmith India investment app. More information can be found at: https://williamoneilindia.com/.
ABOUT OCM
O’Neil Capital Management is a private company and family office with investment interests in asset management, real estate, printing, digital media, brokerage, investment advisory, and information technology services. Its investments and businesses are managed through wholly owned subsidiaries. https://www.oneilcapital.com
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CONTACT: Paul Gin
pgin@williamoneil.com
310.448.6879
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