Harbinger Denies Share Dump Rumors

Sep 16 2008 | 9:11am ET

Activist hedge fund Harbinger Capital Partners yesterday sought to shoot down rumors that it was liquidating some of its high-profile positions.

Philip Falcone, who runs the Alabama hedge fund manager, said selling by his firm was not behind the double-digit losses posted yesterday by Cablevision Systems, Cleveland-Cliffs Inc., Media General or The New York Times Co., all of which have been the target of activist campaigns led by Harbinger in the last year.

“People are looking at the 13 F registration and making certain assumptions,” Falcone told Reuters of the firm’s latest filing with the Securities and Exchange Commission on Aug. 13. “Quite to the contrary, we are well positioned in this market.”

Falcone said Harbinger remains bullish, although he added that the firm’s portfolio has changed since the 13 F filing.


In Depth

Delayed Flash Crash Arrest Highlights Difficulties Detecting Fraud

Apr 23 2015 | 7:19am ET

The five years it took regulators to bring high-profile charges against a UK trader...

Lifestyle

Puerto Rico Woos The Rich But So Far Gains Little

Apr 17 2015 | 2:45am ET

Hedge fund manager Rob Rill grins. He has just had word that U.S. financial regulators...

Guest Contributor

Opportunities Ahead: Asian Fixed Income and Currency Markets

Apr 24 2015 | 6:18am ET

For hedge funds focusing on Asia, the policy uncertainty, unclear interest rate...

 

Editor's Note