Rady Assets

26 August 2010 - Barron's  - Johanna Bennett 

Down 60% in the past two years, the natural-gas producer's stock is priced to buy. Rig to Rise 

30 July 2010 - Financial Advisor Magazine 

What’s the next big short? The question was posed this week to two noted investors known to have an eye on the downside––David Tice and Harry Rady––at Financial Advisor and Private Wealth magazines' Innovative Alternative Strategies conference in Chicago that was attended by more than 400 people. And their short answer? The U.S. economy.
 

02 June 2010 - Ticker - Boris Petrov 

Just like their more obscure counterparts, companies that are dominant in their marketplace may also fall out of favor with investors. Harry Rady, portfolio manager of the Rady Contrarian Long/Short Fund, focuses on investing in companies with sustainable, competitive advantages, suffering from short-term, transitory issues, and evaluating their intrinsic value and long-term investment potential. 

8 May 2010 - Barrons - Kopin Tan 

SINCE NOTHING IMPROVES A BAD MOOD like spreading it around, this latest global outburst of negativity should ultimately make you feel better.

9 May 2010 - Washington Post - Tomoeh Tse 

NEW YORK -- Just as small investors were finally returning to U.S. stocks, the market exploded in a wild week of erratic trading that drove major stock indicators back into the red for the year.

3 May 2010 - BusinessWeek - Lynn Thomasson 

“It’s been tough because things are shorted upside down -- the worse the company is, the more it’s gone up,” said Harry Rady, who oversees $270 million and runs a long-short fund as chief executive officer of Rady Asset Management LLC in La Jolla, California. “I wouldn’t want to be a pure short seller.”

Zions was the S&P 500’s 11th most shorted stock in April 2009 after losses in construction and commercial loans drove the shares down 93 percent in two years. The Salt Lake City-based lender reduced credit losses, spurring a 124 percent rally this year, the biggest in the index.

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Investors should carefully consider the investment objectives, risks, charges and expenses of the Contrarian Long/Short Fund. This and other important information about the Fund is contained in the prospectus, which can be obtained by calling 877.302.7239. The prospectus should be read carefully before investing. The Contrarian Long/Short Fund is distributed by Northern Lights Distributors, LLC member FINRA/SIPC.

25 April 2010 - InvestmentNews - Jessica Marquez 

But not everyone with holdings in Goldman Sachs is selling. In fact, a number of managers are buying the stock, believing that it is undervalued.

Mark Mulholland, portfolio manager of the Matthew 25 Fund, which has 6.8% of its assets invested in the company, is holding on to the stock. Goldman Sachs is the fund's third-largest holding.

“I believe I will make money on it,” said Mr. Mulholland, who is also president of Matthew 25. “I believe they will work through this turmoil.”

Similarly, Harry Rady, portfolio manager and chief executive of Rady Asset Management LLC, has been buying the stock since it dropped more than $20 on April 16.

“Even if they have to pay $3 billion over this suit, it's a drop in the bucket,” he said. “Goldman is a world-class franchise, and this is a short-term transitory event.”

Many industry observers wonder whether Ken Heebner, portfolio manager of the CGM Focus Fund, is holding on to the stock .

Investors should carefully consider the investment objectives, risks, charges and expenses of the Contrarian Long/Short Fund. This and other important information about the Fund is contained in the prospectus, which can be obtained by calling 877.302.7239. The prospectus should be read carefully before investing. The Contrarian Long/Short Fund is distributed by Northern Lights Distributors, LLC member FINRA/SIPC.

25 May 2010 - Dow Jones Newswires - Christine Buurma 

U.S. electricity demand may be slumping, but the power industry isn't down for the count, according to Harry Rady, chief investment officer of Rady Asset Management, which manages the Rady Opportunistic Value Fund (ROVYX).

14 April 2010 - Dow Jones Newswires - Jennifer Cummings 

NEW YORK (Dow Jones)--Unlike many players in the market, the Rady Contrarian Long/Short Fund (RADIX) doesn't have a short-term memory when it comes to managing risk.

The video game stock has been a laggard – but fund managers and analysts say it will bounce back soon.

Despite the rising threats of terrorism and identity fraud, investors have yet to gravitate strongly toward companies that specialize in biometrics.

Uncertainty suppressed valuations; no more guessing ‘what the wackos in Washington' might do

All the talk that US Treasurys were likely to get hammered this year have been unfounded, with investor appetite remaining strong for government debt despite a bevy of factors against it.

How you deal with appreciated bonds should depend on what kind of investor you are.

Money manager ups short exposure to 35%, from 8% in January; ‘tale of two markets’

LA JOLLA, Calif. (TheStreet) -- Harry Rady, manager of the Rady Contrarian Long/Short Fund(RADIX Quote), says Starbucks(SBUX Quote) shares are overpriced and worth shorting.

NEW YORK (Reuters) - With the economic crisis hurtling full speed ahead, investors have plowed cash into health care stocks, making it the largest group on the S&P 500 in at least 20 years as the search for safe havens abounds.

There wasn't much in the way of good cheer on Wall Street Tuesday, with retailers suffering from the weak U.S. economy, which showed no signs of turning around. An apparent Madoff-instigated suicide didn't do anything to brighten the mood.

Meanwhile, with the end of 2008 fast approaching, traders with big losses for the year seem to have taken advantage of the market's recent rise from its nadir to dump some shares.

While the week ahead is laden with economic data, the results may have little shock value, with most of the negativity priced in.

But any extreme difference from Wall Street expectations, or specifics about the Obama administration's proposed stimulus package, could fuel either a rally or a selloff as the market zigzags through its sideways pattern and the recession continues to unfold.

The bears have tired of betting against banks, but they’re placing plenty of bets elsewhere.

Even as the last couple weeks of March have brought a roaring stock market rally, long-short equity players are aggressively teetering back to the short side. According to data released Tuesday, short-selling surged at both the New York Stock Exchange and the Nasdaq Stock Market in the first half of March, and traders believe the short positions have increased from there.

THE STOCK MARKET absorbed its first loss in five weeks, but the pullback says respite more than regret -- for now.

With traders anticipating a correction, the Standard & Poor's 500's failure to overcome the 950 threshold after a 10-day siege might have triggered heavy selling. But stocks halted their decline after three days.

The losses in the long/short strategy favoured by the majority of hedge funds show no signs of abating.

In October, the HFRI long/short index (equity hedge) was down almost 8%, taking the year-todate loss to 22.5% compared with the weighted average of 15.5%. Almost $30 billion has left long/short equity strategies this year.

Finding stocks to sell short is like "shooting fish in a barrel," according to Harry Rady, chief executive and portfolio manager at Rady Asset Management, LLC.

Mr. Rady, who manages $250 million in long-short strategies in both mutual funds and hedge funds, said that the stock market is nearing a tipping point where many of the companies that performed the best last year will become vulnerable.

Let’s face it. The last six months have been miserable for investors, and even good investment managers haven’t slept well recently. But, investors have learned much over the past year, and many now realize there is often an unnoticed, inherent conflict of interest between investor and money manager.

"While we believe the proposed healthcare plan will have a significant impact on the overall industry, in recent weeks compromises have been made which should shift more power and influence away from the government and socialized medicine to the private sector which we view positively. This along with many other factors, and our extensive fundamental bottom-up research, has led us to uncover what we consider to be some extraordinary contrarian opportunities in this space.."

SAN FRANCISCO (Dow Jones)--Not all hedge funds are have fallen on hard times.

Sporting a mix of short positions and long-term holdings in everything from medical- device companies to oil funds, the Contrarian Value Investments fund has posted a slim 1.7% drop for the year through Oct. 31.