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Phil Falcone’s fall to earth

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

October 28, 2009
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By Britt Erica Tunick

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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.

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Philip Falcone Lisa Falcone Harbinger Capital Management
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