LightSquared's Woes Weigh on Falcone Hedge Fund [telecom]

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LightSquared's Woes Weigh on Falcone Hedge Fund By AZAM AHMED

Nasty letters from lawmakers. A powerful lobby threatening his very livelihood. Regulatory investigations. These are the things that billionaire hedge fund manager Philip A. Falcone contends with on a near-daily basis.

Today, scorekeepers can chalk up another point for the anti-Falcone factions. His hedge fund, Harbinger Capital Partners, lost 46.6 percent last year, as his biggest -- and most controversial -- investment took a beating, according to investors who spoke on condition of anonymity.

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