That is indeed a bug.  A fix is up for review at
http://trac.sagemath.org/sage_trac/ticket/13218, along with 100% doctest
coverage of laurent_series_ring (which caught a few other bugs too).
David

On Mon, Jul 9, 2012 at 4:27 AM, John Cremona <john.crem...@gmail.com> wrote:

> sage: R, x = PowerSeriesRing(ZZ, 'x', default_prec = 80).objgen()
> sage: f = x + x^2
> sage: f.parent()
> Power Series Ring in x over Integer Ring
> sage: f.parent().default_prec()
> 80
> sage: g = 1/f
> sage: g.parent()
> Laurent Series Ring in x over Integer Ring
> sage: g.parent().default_prec()
> 20     (??????)
> sage: h = 1/2 * f
> sage: h.parent()
> Power Series Ring in x over Rational Field
> sage: h.parent().default_prec()
> 80
>

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