Boy, you miss one day of podcasts and Paulson takes a bath. You remember Paulson, the
It turns out a sharper can be taken for a ride too.
Even hedge-fund stars stumble
”But this month he took a huge hit on an investment he made in a company called Sino-Forest. It is, as you might figure, a Chinese timber plantation company. There were warnings along the way that Sino-Forest wasn't what it seemed and Paulson did sell all his shares. But it may have been too late.”
The Chinese learn fast don’t they? I wonder how long it will take them to figure out they don’t want a bunch of crooks in charge of their economy? I wonder how long it will take us to learn it -- again? Anybody ready to regulate the banks yet? Again?
June 24, 2011