Phil Falcone's Harbinger Capital
lost around 12% in 2010 and kept its losing streak so far in 2011. Through the middle of January, Falcone's flagship hedge fund lost another 1.2%, according to Reuters.
It's intriguing that Falcone stopped reporting his results to HSBC, whereas other hedge fund managers such as William Ackman
, Dan Loeb
, and John Paulson
are still reporting their results.
asked him whether he stopped reporting his results to HSBC to avoid the embarrassment of topping the list of underachievers. Falcone denied the numbers reported by Reuters, saying, "The investors are wrong and so is your rationale."
Falcone's assets under management shrank from $26 Billion a few years ago to its current $6.4 Billion. The AUM is still a lot of money. You can read about the recent departures at Harbinger and Falcone's 4G investments