John Paulson tells investors that net losses from Sino-Forest (SNOFF.PK) amount to $107M, far less than the $700M speculated. His firm sold the bulk of its holdings between $19.30 and $25.40, vs. $9.14 when it initially began buying. The stock has swooned amid allegations of faulty accounting, but Paulson stresses that he had done his due diligence.