That means that the exchange traded fund industry may have already moved beyond the realm of the average investor before he even understood what the initials ETF stand for.

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He has already had to damp down a fire started when an unidentified aide told the Daily Telegraph that they understood Britain better than the White House because of a shared "Anglo-Saxon" heritage.

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Guo says he favored these venture firms because all are China-based U.S. funds that could move quickly and already understood the local market.

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