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Disintermediation—A Remarkable Transformation
e. g., pension funds, mutual funds, hedge funds, insurance investment of premiums, etc. The

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CORRECT

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major part of this adjustment is that financial portfolios have gone directly to shares but not a good deal now takes the form of various kinds of institutional investment for groups of individuals,

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percent of households’ financial wealth, compared to less than 20 percent in the 2000s. The

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