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John Paulson’s eponymous hedge fund took “a nasty hit” from Chinese firm Sino-Forest and major holding Bank of America has been “somewhat of a disappointment,” the billionaire told investors on a conference call Thursday.

Reuters listened in to part of the call, in which Paulson, who made his fortune with a prescient bet against subprime mortgages and the financial institutions burdened with them during the 2008 crisis before then turning bullish on the big banks, admitted to getting “too aggressive” and pledged to trim back some of the firm’s riskier positions.

From Reuters:

A good deal of the funds slump came from a disastrous bet on Sino Forest, which lost much of its value because of accounting concerns at the foreign company.

The biggest loss was Sino Forest. We took a nasty

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Iran is reported to have told customers in India that they would not receive shipments next month until outstanding bills are paid, as Indian refiners have expressed that the global sanctions against Iran regarding its nuclear program, made banks reluctant to transfer oil payments.

Also, Iran might stop exporting oil to India from the 1st of August, and the country is yet to issue export permits for crude shipments to India for August, as India owes $5 billion for oil shipments.

However, Saudi Aramco, the largest crude exporter in the world, is said to have told refiners in India, it could replace some of the Iranian crude, though the Dhahran-based company gave no response when an e-mailed was sent to them requesting for comments on the issue.

India imports around 21 million metric tons of crude from Iran yearly, making it the country’s second-biggest supplier after Saudi Arabia. S

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The stated primary goals of the National Venture Capital Association (NVCA) are:”Funding Innovation” and “Empowering Entrepreneurs”, and while large corporate companies may become bogged down in red tape and bureaucracy, entrepreneurs have a vested interest in productivity and growth, making these fledgling companies a valuable asset in job creation and economic recovery. Venture capitalists identify innovative entrepreneurs and invest in them, giving them the capital, and often the expertise and mentorship, to overcome barriers to entry and establish their business in the sector of their choice. Turning good ideas into reality and helping them to grow is what venture capital investment is all about.

With more than 400 members over a spectrum of sectors and professional services, the NVCA represents its members in public policy debates at government level in Washington DC.

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