Data Trends for Investment Professionals

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Searching for an Edge with Alternative Data

When Johnson & Johnson agreed to buy Actelion for $30 billion on January 26, 2017, its stock soared almost 20 percent. The deal was the largest in J&J’s 130-year history. This was good news for Och-Ziff Capital Management Group LLC (who had built a stake worth about USD 766 million), Eton Park Capital Management (whose bet was almost USD 500 million) and Elliott Management Corp. (USD 200 million). The three funds, however, did not make their bets blind; they had backed up their belief by good old-fashioned sleuthing: They tracked J&J’s private jet movements with alternative data. According to Bloomberg,...

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