In 2017, the world was shocked to learn that the largest US stock exchange, NYSE, was trading at an all-time high, while other market indexes were trading at all-times lows.
As a result, a new class of trading platform called “Optimal Investment Management” (OIM) had been launched.
It was meant to solve the same problems as the big NYSE but with more efficiency.
But it failed.
Investors flocked to OIM, buying the promise of a quick and efficient way to optimize their investments.
OIM had three key goals: it would be easy to use, it would offer a wide range of options, and it would provide real-time data on the performance of your portfolio.
However, OIM was plagued by its own set of issues.
First, it lacked a clear direction.
It had a goal of offering a simple, easy-to-use and cost-effective method for identifying and tracking the most efficient ways to invest.
However the platform had no clear direction or timeline for its launch.
Second, OOM was missing key features like automatic rebalancing, which would have allowed for more efficient investment decisions.
Finally, OAM did not provide any clear benchmarks.
In addition to its shortcomings, OMM’s launch was marred by a lack of transparency.
Its launch was delayed because of a conflict of interest involving a top executive and OPM’s chairman.
In March 2018, OPM revealed that it had created the “Optimization and Management” team and was working on the OPM-OIM team.
The OPM board announced in January 2019 that it would soon be taking over OAM’s management.
The next day, the OAM board released a statement that said that it was “dismayed” by the board’s “inability to properly and swiftly respond to the challenges of our future business.”
The statement said, “the OAM Board has been unable to provide adequate clarity and direction regarding OPM.”
Investors took the news with a grain of salt.
Investors had already been disappointed in the performance and the lack of clarity in OPM.
What they didn’t know was that, despite the OOM board’s statements, there was no clear plan or timeline of when OAM would be officially announced.
There were also no signs of a major overhaul in the way OAM operated.
At first, OUM was supposed to be a separate company.
However in late February 2019, it was announced that OAM was to merge with OPM and become the new, new OPM subsidiary.
In early March, the merger was officially announced by OPM CEO John McAfee and OAM CEO Robert Naylor.
The news was greeted with skepticism, especially given that the merger is expected to give OPM a majority stake in OAM.
However by late April, the shares of OAM were trading below OAM as OAM investors were waiting for OAM to confirm that it wanted to merge into OPM, or that the OIM board had been told of OOM’s plans to merge.
Investors took this as a sign that the deal was being handled properly and was not just a way to give a stake to OAM shareholders.
However OAM shares have since appreciated and the shares are now trading above OAM at an average of $3.80.
OAM also had to answer questions about its operations, including whether OAM had created a separate “Optimize” division, what the future of the OMM brand would be, and whether it would change its name to “OptIM” or just OAM or OPM or OOM.
In response to investor questions, OEM CEO Bob Odom told the New York Times, “We want to say thank you to our investors, the investors that supported us over the years and we hope they will continue to support us.”
At the same time, in the days after the announcement, Odom also made a public statement that “OIM will continue as we will be the leading investment management platform in the world.”
In May 2018, the company released its first quarterly earnings report.
The report showed that OIM raised $4.3 billion in venture capital, while OPM raised $5.6 billion.
The company also stated that its total assets were $20.4 billion.
In the months that followed, investors continued to buy OIM shares.
In October 2018, a company called Optimum Management announced that it and OIM were “teaming up” to create OPMX.
In January 2019, OBM announced that the company would be acquiring OIM from OPM for $3 billion.
It also announced that in 2019, Optimum would be taking control of OIMX.
The acquisition was seen as a way for OPM to consolidate its holdings in OMM and get its money out of the company.
On December 31, 2020