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  "documentTitle": "Focus Media Holding Ltd. (FMCN)",
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  "notes": "The slide uses a sarcastic tone to undermine management's integrity, citing an external contributor (Matt Berry) to validate the claim of deceptive practices.",
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      "text": "WARNING: A printout of this Report is not a CRT Display",
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      "text": "While we were satisfied that FMCN was double-counting the LCD 2.0 Digital Picture Screens to make its reported LCD network screen count, we had not caught FMCN's admission that it needed to count over 30,500 cardboard posters in order to make its number.",
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      "text": "The credit for this observation belongs to published author and Seeking Alpha contributor Matt Berry. (Interestingly, Mr. Berry's book is a guide to righteous behavior. We have expressed a copy of Mr. Berry's book to Chairman Jiang.)",
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      "text": "This management has demonstrated time and again that it should not be taken at its word. Further, the over the top nature of these lies paints the picture of a management who views its investors and analysts as gullible and worthy of contempt.",
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      "text": "22 Mr. Berry authored The Mechanics of Virtue: A Cynic's Guide to Righteous Behavior, CreateSpace (Dec. 2009).",
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