First and foremost is a rigorous intellect, a mastery of the law, an ability to hone in on the key issues and provide clear answers to complex legal questions.

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Obviously, most thought goes into the questions and the answers, but apparently trivial issues like location can take on huge significance.

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These issues in the present market are complex and interconnected, and the answers are only now coming to light.

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Buy-side firms can improve their returns by using a firm like Pragma which specializes in them, or by understanding these issues, , and asking their brokers very specific questions and getting the answers in writing.

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But I think these are all good questions, and I think that in some ways your questions are answers in that we carefully consider all those issues in a situation like this.

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