The greater acceptance of debt allowed private-equity firms and hedge funds to bet on rising asset prices with borrowed money, which is a quick route to riches when all goes well.

私人企业的借贷越宽松容易，和贷款挹注避险基金的比率越高涨，在景气顺畅时越是赚钱的终南捷径。

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Others allowed hedge funds to make quick in-and-out transactions with fund shares, thus hurting portfolio performance for the ordinary investor.

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