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laurent series

Is the number of terms of a Laurent series fixed? E.g.

P.<t> = LaurentSeriesRing(QQ)
1/P([1 for t in range(100)])


1 - t + O(t^20)

and not

1 - t + O(t^100)

as expected. There seems to be no simple way of setting the "precision" of the series. Or is there ... ?