Behind every billionaire there is a story!

Harbinger denies its blowing up !

Hedge fund Harbinger Capital Partners said it is not pulling out of high-profile investments like The New York Times Co and Media General Inc  seeking to quell market rumors after their share prices dropped sharply on Monday.

Philip Falcone, who runs the hedge fund, told Reuters that investors would be mistaken if they thought selling by Harbinger was behind the double-digit percentage declines in stocks it holds, including the Times, Media General Inc, Cablevision Systems Corp Cleveland-Cliffs Inc and Calpine Corp. .  “People are looking at the 13 F registration and making certain assumptions. Quite to the contrary, we’re well positioned in this market,” said Falcone.

read the rest published by Reuters here:

http://www.reuters.com/article/ousiv/idUSN1529603920080915