Harbinger Group's Sum-of-Parts Does Not Add Up

Over the past few years, we have built a pretty solid track record on Seeking Alpha around identifying mispriced stocks that have had significant moves following our articles. Our eleven articles include short recommendations on six stocks that subsequently declined between 65% to 99% (including LPHI, JTX, HUSA, PCBC, REE, and HMPR). We like to think that our thorough analysis of facts has helped the investment community. We believe Harbinger Group Inc. (HRG), a holding company that currently has two significant assets, shares characteristics with many of the short ideas discussed in our previous work. It would appear that several promotional Seeking Alpha articles and a recent Barron's...