Is there a limit to how many 301 (Permanent) redirects I can do on a site?

Is there a limit to how many 301 (Permanent) redirects I can do on a site? How about how many redirects I can chain together?
Matt Cutts, Bay Area, California

Other things to watch out for with chained redirects:
– Avoid infinite loops.
– Browsers may also have redirect limits, and these limits can vary by browser, so multiple redirects may affect regular users in addition to Googlebot.
– Minimizing redirects can improve page speed: http://code.google.com/speed/page-speed/docs/rtt.html#AvoidRedirects

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