New York (HedgeCo.Net) - Five billionaire hedge fund managers stood up before Congress yesterday and shared their differing views on the hedge fund industry.
George Soros, Philip Falcone, John Paulson, James Simons and Ken Griffin all took turns defending hedge funds at the House hearing yesterday, though they clearly weren’t on the same page […]

New York (HedgeCo.Net) - Activist hedge fund Harbinger Capital might be looking to make some strategic changes to another management team.  They are expected to hold talks with Leap Wireless International, in which they hold a substantial 14.8 percent stake or just over 10 million shares.  The hedge fund is looking to discuss both short-term […]

Telegraph.co.uk - EU data shows that Philip Falcone, the US hedge fund baron who led the assault on HBOS, has sold short €138m (£108m) of Banco Popular’s shares, or 1.65pc of the total float, through his fund Harbinger Capital.
He has short bets of €208m on […]

AP - Chinese steelmaker Sinosteel Corp. has taken control of 98 percent of Midwest Corp. and will proceed with compulsory acquisition of the Australian miner, Midwest said.
In a brief statement Wednesday, Midwest said Sinosteel would recommend de-listing the company from the Australian Securities Exchange. The conclusion of the deal marks the first successful hostile takeover […]

New York (HedgeCo.Net) - Harbinger Capital has taken an 8 percent stake in Cablevision Systems Corp., according to a regulatory filing done yesterday with the Securities and Exchange Commission.
The activist hedge fund now owns nearly 19 million shares of the cable operator.  The filing communicated Harbinger’s views that the stock is undervalued and also touched […]

West Palm Beach (HedgeCo.net) -  Harbinger Capital Management, an activist hedge fund, has accumulated a 4.9% stake in Cablevision Systems Corp, according to The Wall Street Journal.
In a regulatory filing, Harbinger said that it had bought 11.45 million of Cablevision’s Class A shares. Harbinger, now Cablevision’s fifth biggest shareholder, was not present at meetings with […]

New York (HedgeCo.Net) - New York’s top 100 hedge funds are in trouble and can’t seem to get out of the red, according to performance reports obtained by the New York Post. 
Prominent hedge funds are still trying to recover from the credit crunch and unless they see a turnaround soon, 2008 could be the […]

Seeking Alpha- In a 13G filing after the close Friday on Sunoco, Inc. (SUN), Philip Falcone’s Harbinger Capital disclosed a 6.6% stake (7,732,600 shares) in the company. The hedge fund did not show a stake in Sunoco at the quarter ended 03/31/08.
A 13G indicates a ‘passive investment’, but Harbinger is a known activist investor. Most […]

New York (HedgeCo.Net) - Inmarsat shares took a dive yesterday after hedge fund Harbinger Capital halted talks of a possible takeover.  Harbinger has amassed a 28 percent stake in the U.K.-based mobile satellite communications group.
Harbinger, who has AUM upwards of $26 billion, decided to hold off after considering the lengthy process ahead in which they […]

Times Online- Shares in Inmarsat, the mobile satellite communications group, plunged 12.2 per cent today after it emerged that Harbinger Capital, the activist American hedge fund investor, has suspended talks over a possible takeover.
While both parties left the door open to a future deal, Inmarsat’s stock lost 62.75p to fall to 449.75p […]

Times Online- Philip Falcone is used to demanding change from underperforming company executives, but yesterday he took Harbinger Capital, his activist hedge fund, into new territory.
Complete with financial advisers and a big stake, Harbinger broke cover as a traditional prospective buyer of strategic assets, with a tentative approach to Inmarsat, the London-listed […]

Business Spectator- Hedge funds sharply increased their bets against UK lender HBOS in the first days after the Financial Services Authority imposed new rules on June 13, targeting abusive short-selling and smooth the process for firms raising cash from rights issues, reports The Financial Times.
HBOS, Britain’s biggest mortgage lender, which earlier issued its prospectus […]