Crossword Genius

Hounds laid bare for strength (5)

Ross

I believe the answer is:

asset

I'm a little stuck... Click here to teach me more about this clue!

'bare for strength' is the definition.
'asset' can be an answer for 'strength' (I've seen this before). I am not sure about the 'bare for' bit.

'hounds laid' is the wordplay.
'hounds' becomes 'as' (I am not sure about this - if you are sure you should believe this answer much more).
'laid' becomes 'set' (synonyms).
'as'+'set'='ASSET'

Can you help me to learn more?

(Other definitions for asset that I've seen before include "Resource; advantage" , "Seats (anag.)" , "Valuable possession, worth having" , "blessing" , "good point" .)

I've seen this clue in The Hindu.
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