Falcone's Harbinger Hedge Fund Lost 47% in 2011

Feb. 3 (Bloomberg) -- Phil Falcone's Harbinger Capital Partners LLC lost 47 percent for investors in his main hedge fund last year as he was forced to slash the value of his troubled wireless venture by more than half, according to a person familiar with the results. Most of the decline in the Harbinger Capital Partners Offshore Fund I came from Falcone's investment in LightSquared Inc. Dominic Chu reports on Bloomberg Television's "In the Loop." (Source: Bloomberg)