Phil Falcone's fall to earth

October 29, 2009  

A wildly successful bet on subprime mortgages put Harbinger on the map, but big losses last year are forcing Phil Falcone to rebuild.

By Britt Erica Tunick In late 2006, Phil Falcone joined a handful of hedge fund managers in making what turned out to be a well-timed bet against the housing market. Not only did that wager send his flagship hedge fund …


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