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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: energyplay who wrote (39532)	9/4/2008 6:41:20 AM
From: TobagoJack	Respond to of 217913

just in in-tray Anyone been following Harbinger Capital lately? It appears that Phillip Falcone has gotten absolutely hammered this week. Don't know if he's cut positions or shorted, but I have to think that he's been decimated since the end of June. Looking at his portfolio since the end of June: Fortescue Mining -40% ($3 Billion position) 15.83% of outstanding shares Calpine Corp -25.44% ($2 Billion position) 24.46% of outstanding shares Cleveland-Cliffs -25.36% ($2 Billion position) 15.57% of outstanding shares Inmarsat -1.52% ($1 Billion position) 28.16% of outstanding shares Freeport-Mcmoran -31.43% ($1 Billion position) 3.65% of outstanding shares Sprint -9.79% ($846 million position) 3.45% of outstanding shares AK Steel -30% ($791 million position) 14.71% of outstanding shares. If he sees big redemptions, what can he do? He can call in his shares and not allow them to be shorted I guess. But if he has to liquidate, I certainly wouldn't want to be long any of these companies. I want to lock up 6 month borrowing on these shares and short them. Many of these shares really ran up in the first half of the year - I suspect due to Falcone. And we know what happened to Aramath. Anyone else think that Falcone and Harbinger is in serious, serious trouble? Data from Bloomberg and may not be totally up to date. Most data as of June 30. I'm thinking that commodities shares could take a real tumble even from here given Dwight Anderson and Phillip Falcone alone..... Anyone know Harbinger's redemption / lockup policy? And it gets more interesting..... This announced yesterday: iipower.com Howard Kagan, managing director and director of investments for Harbinger Capital Partners in New York, has left the firm. "Howard Kagan's employment was terminated yesterday," says James McGinnis, an official at the firm. "It is an amicable ... Heard from one broker who covers hedge funds and he says that Falcone is "one of many" expect a lot more.