I am late linking to this, but I just noticed that there was a good profile of investor Seth Klarman earlier this year in Fortune. There is not enough to tell, from the article, whether or not Klarman correctly judged the community impact of the Ontario quarry investment. But, big picture, he is a smart guy who has done very well for his clients over a long period of time.
I posted a good quote of his last month, on our "Worst Generation" mentality.