Seeking Alpha

Because of its somewhat confusing structure, Harbinger Group (HRG) is a company that is difficult to understand and apparently even harder to value correctly, given the large discount it trades at compared to the value of its assets. This discount has persisted throughout the company's history and has occasionally widened due to the financial and legal troubles of its CEO, Philip Falcone.

However, these issues were related to the hedge funds Falcone also manages and not directly to the publicly traded Harbinger Group. Falcone recently settled with the SEC over charges that he took improper loans from the hedge funds, which will allow him to remain as CEO of Harbinger Group even as he will likely have to...

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