Behind every billionaire there is a story!

Harbinger Falls 12% in September, Erasing Most Gains in 2008

Harbinger Capital Partners Fund, run by Philip Falcone, has given up most of the 42 percent gain it posted in the first half of the year amid losses on energy and commodity stocks, according to two investors.The hedge fund declined 12 percent this month, leaving it up about 2 percent for the year through Sept. 19, said the investors, who asked not to be identified because the information is private. Harbinger Capital Partners, based in New York, manages $26 billion across its funds.

Falcone’s three biggest holdings as of June 30 were Calpine Corp., Cleveland-Cliffs Inc. and Freeport-McMoRan Copper & Gold Inc., according to an Aug. 14 filing with the U.S. Securities and Exchange Commission. Each has fallen about 40 percent since

read the rest published by Bloomberg here:

http://www.bloomberg.com/apps/news?pid=20601087&sid=az_1X6EFGmKQ&refer=home