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Manse,
I'm talking about the fact that even if the hypenated domain name contains your keywords, most of the search-engines like the non-hypenated version better.
Also, it's better branded. Usually users don't have any problems remembering hypenated domains, but they also like the non-hypenated ones.
On a basic domain check statistics, a value of a domain drops about 25% if ti's hypenated.
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