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      "text": "Investment Grade Assets; Held at Cost / Less Impaired; No High Water Mark; Franchise Stability Through Cycle; \"All Weather\" Profitability; Mid-teens growth, 8% Capital",
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      "text": "Non-Investment Grade Assets; 5–8% Hurdle; Volatility over High Water-Mark; Cyclical Risk of Franchise Impairment; Potential Interest Rate-Driven Earnings Volatility; High-Teens Growth, No Capital Today",
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