Greed is one of the seven deadly sins and actually, it is one of our primeval characteristics. However, it is really surprising to know how greed a man could be when it comes to money. The last financial crises had opened our eyes to the greediness of people behind those so called financial investment market. It is said that you can’t be a successful investor without having any greed but what we can learn from Philip Falcone is quite astonishing.

Falcone  and Harbinger Capital, his flagship investment company made headlines on the media after being investigated for allegedly flouting shirt selling rules and other things. Falcone was also on the headlines when LightSquared, a broadband carrier he owned proposed a controversial network. Falcone is an example of successful hedge fund investor. Started as a trader after forcedly retired from professional hockey due injuries, he becomes a billionaire.

It is a true thing that even a successful person will be destroyed by his own greed. His controversial blunders had been leading a significant decline to his hedge fund assets and the worst could be his action to use fund from Harbinger to pay his own tax. Falcone and Harbinger Capital is also the reason why there’re so much critics about hedge fund practices and especially its accountability.