Philip Falcone's Harbinger hedge fund gobbled up enough New York Times Co. stock to scare the company into giving him two seats on its board. Alas for his investors, he's down about 60% on a $512 million investment. No wonder he's begun shrinking his position. After all, the point is to make money, isn't it? Not just to make noise.
Falcone testifies at a congressional committee hearing on the regulation of hedge funds, November 13.
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