Harbinger Is A Harbinger Of Things To Come: Goodbye Phil, You Are Just The Start

``Phil Falcone's multi-billion hedge fund is now essentially finished. As William Cowan said yesterday, "you may be seeing right before your eyes the unwinding of this hedge fund" and he proceeds to compare Harbinger to the two Bear Stearns hedge funds whose unwind was the key catalyst to the end of the credit bubble. Goldman's redemption of its $120 million interest in Falcone is merely the start of the avalanche for the once perceived as flawless Falcone, and now has become the butt of jokes in the hedge fund industry. Today we read that both Blackstone and the NY Pension fund are pulling their money as well, which means the liquidation run has commenced.''