Paulson Says Sino-Forest Loss Was $468 Million in June
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John Paulson’s $37 billion hedge fund lost C$462 million ($468 million) since May 31 on Sino-Forest Corp., the Chinese tree-plantation owner accused by a short-seller of overstating timber holdings, the firm said.
Paulson & Co. held 31 million shares of Sino-Forest in May, or 12.5 percent of outstanding stock, the firm said in a letter to clients. It had sold the entire stake as of June 17. The net realized loss on the investment since Paulson started buying Sino-Forest in 2007 was C$106 million, according to the letter.