No. of Recommendations: 0
(The folllowing is a repost from the Dada message board, and is addressed to Sean Sun.)

Sean -

I enjoyed reading in "10 IPO's" your analysis of Renren.

But a question: Why is RENN's "convoluted holding structure" better than, say, China MediaExpress's ownership design?

Like RENN, CCME's structure mimics, but does not grant, ownership of assets to U.S. investors. CCME's stock, which peaked at $24-$25 earlier this year, now sells for $0.15, due to a mish-mash of problems, including its convoluted holding structure--same as RENN.

Here's the bottom line: If your stock doesn't offer actual ownership to cash, receivables, and property, don't buy. By this measure, Renren is not worth the risk. Your report provides no info on RENN's chairman's wife, yet she owns the operating company, you state. What is her name? Education? Work experience? Political connections? Speeding tickets? You get the picture.
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