Paulson continues to hold his share postiionSino-Forest, however, is a much larger and well-established playercompared to Mr. Block’s previous targets. It was established in 1994 andrecently reached a market value of about $6-billion as investors boughtin to the company as a way to play the Chinese economy’s surging demandfor wood.
It also boasts prominent executives and shareholdersincluding John Paulson – perhaps the world’s most famous hedge fundmanager for his prescient calls on the U.S. market meltdown in 2008 andthe soaring price of gold. Mr. Paulson is Sino-Forest’s largestshareholder, owning 14 per cent of the company. The Sino-Forest stakeaccounts for about 2 per cent of Mr. Paulson’s flagship investment fund.
Mr.Horsley, Sino-Forest’s CFO, said management has been in frequentcommunication with Mr. Paulson, who continues to hold his shareposition.
“We are certainly in conversation with him and others totalk about what is going on and things that we need to be doing and thealternatives that the company could undertake to respond to some ofthese allegations. It has been friendly, supportive and suggestivediscussions,” Mr. Horsley said.
If Paulson (SF largest shareholder) continues to hold his shares that's good enough for me to stay in.GLAL ;o)