Moreover, the protection must be in a liquid, transparent, and unleveraged vehicle, with reasonable fees.

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As paying by credit card becomes less intrusive, with no need to open your wallet, any new fees are going to be mostly transparent and ignored.

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But flotations also force hedge-fund managers to be more transparent, diluting the mystique on which their high fees partly depend.

ECONOMIST: Buttonwood

Such services should be offered in a transparent and fair way through reasonable, risk-adjusted fees and good customer service.

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