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  "documentTitle": "Hong Kong Dollar / Hong Kong Monetary Authority (HKMA) (HKD)",
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  "authorName": "Pershing Square Capital Management",
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  "presentationDate": "2011-09-14 00:00:00",
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  "notes": "The slide uses a line chart to demonstrate that despite multiple regulatory interventions (stamp duties, LTV caps), the price index continued to trend upward.",
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      "kind": "callout",
      "text": "For example, the prevalence of cash buyers has reduced the impact of mortgage LTV caps",
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      "text": "Source: Bloomberg. \"Hong Kong Property\" – Morgan Stanley, September 2, 2011, p.19. \"Asian Economics Analyst\" – Goldman Sachs, June 23, 2011, p.4.",
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      "text": "Real Estate Market Intervention is Not Working",
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