Taking 'Fun' Out Of Funds

Fly Charts: Hedge Fund Letdowns and Bad Buyback Timing

From a misleading signal in Britain to oil simplification, here are four charts that tell you what you need to know in business today.

Good morning! This is Fly Charts, the daily charts-only newsletter from Gadfly; sign up here. From a misleading signal in Britain to oil simplification, here are four charts that tell you what you need to know in business today.

More Fin Than Tech

The timing of Temenos's buyout of Fidessa -- which comes right after an expensive buyback -- is puzzling and in need of explanation.

Source: Bloomberg

How Is This a Hawkish Signal?

Yes, pay growth is up in Britain. But given the country's broader economic stagnation, the central bank's hawkish tilt is perplexing.

Source: U.K. Office for National Statistics, Bloomberg

An Inauspicious Start

Perhaps hedge funds aren't the best investment vehicle to nurture the hard-earned nest eggs of police officers and fire fighters.

Sources: Reuters, EurekaHedge

The Price Of Complexity

EQT spinning off its midstream business is an act of mercy for investors and should result in a higher multiple.

Source: Bloomberg. Bloomberg Gadfly analysis

Note: EQT upstream is an implied estimate after backing out earnings, equity stakes, net debt, minorities, and incentive distribution rights for EQT's midstream entities.

And don't miss Brooke Sutherland on GE's continuing communication problems: "Grappling with a plunging stock price, a broken reputation and struggling businesses, new CEO John Flannery has pledged to be more transparent and straightforward about General Electric Co.'s challenges than his predecessor Jeff Immelt. It's a low bar, but Flannery's still got some kinks to work out as far as his communications with investors. And his credibility is the last thing he can afford to lose."

This column does not necessarily reflect the opinion of Bloomberg LP and its owners.

    To contact the author of this story:
    Max Nisen in New York at mnisen@bloomberg.net

    To contact the editor responsible for this story:
    Mark Gongloff at mgongloff1@bloomberg.net

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