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In talking to various investment advisors, I get the sense they think they´ll need to promise 20% returns to get investors´ attention in the next generation of fund marketing. Placement agents “won´t give us” any attention otherwise, says one manager. The rationale is low returns won´t sell since investors will expect big opportunistic gains coming out of the downturn in a rebound to the pre-crash mindset. Maybe more significantly,

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