According to BusinessInsider, John Paulson has finally broken his silence on the Sino-Forest disaster, in a four-page letter to investors.
For weeks Paulson refused to answer questions about the investment, according to AR, He says now that the firm has sold out of the position, he can discuss it.
The shareprice of Sino-Forest, a Chinese plantation operator listed in Toronto, has collapsed in the wake of a Muddy Waters research report accusing the company of a fraud tantamount to the Madoff Ponzi scheme.
Paulson's hedge fund held a major position in the company, and reports of up to $700 million in losses have been widely reported. The firm's flagship is down at least 15% for the year, in large part because of the Sino-Forest implosion….
Wait, wait...Find out the rest at: http://www.businessinsider.com/john-paulson-breaks-his-silence-on-why-he-invested-in-sino-forest-and-how-much-they-actually-lost-2011-6
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