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      <image:title>Blog - Timing is everything because the market is a weighing machine.</image:title>
      <image:caption>If the orange line represents a reasonable value for this company, you can see how greatly over-paying can be detrimental to your wealth. The graph above shows the price history of a very well run consumer goods company. This is an example of regardless of how "well" a company is managed, the price will not defy the laws of gravity. Cycles are a part of most every industry. Business value is something that is born out of many years of operation, not a quarter or two. Without a proper exit strategy or position sizing methodology, consistently making money in stocks is going to be almost impossible. Best, P. Franklin, Jr. June 27th, 2017 All opinions and estimates included in this communication constitute the author’s judgment as of the date of this report and are subject to change without notice. This communication is for informational purposes only. It is not intended as an offer or solicitation with respect to the purchase or sale of any security. This information is subject to change at any time, based on market and other conditions. Any forward looking statements are just opinions – not a statement of fact. Investing may involve risk including loss of principal. Investment returns, particularly over shorter time periods are highly dependent on trends in the various investment markets. Past performance does not guarantee future results.</image:caption>
    </image:image>
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  <url>
    <loc>https://www.ftminvest.com/blog-backup/2017/6/27/there-must-be-a-better-way-to-manage-your-money-efhwk-xx78g</loc>
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      <image:title>Blog - Not how I would manage your money!</image:title>
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  <url>
    <loc>https://www.ftminvest.com/blog-backup/2017/6/2/its-called-a-lay-up-because-its-not-a-three-point-shot</loc>
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      <image:title>Blog - It's called a lay-up because it's not a three-point shot!</image:title>
    </image:image>
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  <url>
    <loc>https://www.ftminvest.com/blog-backup/2017/6/1/the-game-is-follow-the-leader-not-follow-the-boring-kid-who-just-sits-there</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2019-01-08</lastmod>
  </url>
  <url>
    <loc>https://www.ftminvest.com/blog-backup/2017/5/26/hwp-lessons-in-dating-and-stock-picking</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2019-01-08</lastmod>
    <image:image>
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      <image:title>Blog - HWP - Lessons in Dating and Stock Picking!</image:title>
    </image:image>
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      <image:title>Blog - HWP - Lessons in Dating and Stock Picking!</image:title>
    </image:image>
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      <image:title>Blog - HWP - Lessons in Dating and Stock Picking!</image:title>
    </image:image>
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  <url>
    <loc>https://www.ftminvest.com/blog-backup/2017/5/18/part-two-market-timing</loc>
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    <priority>0.5</priority>
    <lastmod>2019-01-08</lastmod>
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      <image:title>Blog - Part Two - Market Timing</image:title>
    </image:image>
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  <url>
    <loc>https://www.ftminvest.com/blog-backup/2017/5/17/you-cant-time-the-market</loc>
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    <lastmod>2019-01-08</lastmod>
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      <image:title>Blog - You Can't Time The Market....Or Can You?</image:title>
    </image:image>
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  <url>
    <loc>https://www.ftminvest.com/blog-backup/2017/5/12/create-and-experience-thats-all-folks</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2019-01-08</lastmod>
  </url>
  <url>
    <loc>https://www.ftminvest.com/blog-backup/2017/5/12/pppssssttt-come-over-here-hey-come-over-here</loc>
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    <priority>0.5</priority>
    <lastmod>2019-01-08</lastmod>
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      <image:title>Blog - PPPSSSSTTT.  Come Over Here.  Hey.  Come Over Here.</image:title>
    </image:image>
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  <url>
    <loc>https://www.ftminvest.com/blog-backup/2017/5/6/magic-beans-and-false-flags</loc>
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    <lastmod>2019-01-08</lastmod>
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      <image:title>Blog - Beware of Magic Beans and False Flags</image:title>
      <image:caption>This image comes from The New Yorker Magazine</image:caption>
    </image:image>
    <image:image>
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      <image:title>Blog - Beware of Magic Beans and False Flags</image:title>
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    <image:image>
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      <image:title>Blog - Beware of Magic Beans and False Flags</image:title>
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  <url>
    <loc>https://www.ftminvest.com/blog-backup/2017/5/5/ssshhhh-its-a-secret</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2019-01-08</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/58e2f224f5e231f7a82206df/1494021441930-BFI1VR5A87L17KFNJGY8/image-asset.png</image:loc>
      <image:title>Blog - SSSHHHH... It's a Secret</image:title>
      <image:caption>What I am about to say is quite obvious under most normal circumstances. "The price you pay determines your future results." Unfortunately in the stock market, normal circumstances is only observed in retrospect. Now that may be fine for most stock market commentators and journalists since they have no skin in the game. Most publishers of financial commentary don't have to operate in real time. I don't have that luxury. I don't have the luxury of pointing out all the warts on the frog. You see in my world, in real-time stock market decision making, many of those frogs turn out to be princes! The frog-to-prince transformation can only be profited from in real-time, not in, unlimited, journalist-time. One simple way to attempt to avoid getting too off track, is to monitor a stock's trading history in relation to its earnings and sales. I'm not going to get into a debate about the virtues of owing low-multiple stocks or condemn the sins of owning high-multiple stocks, but to be successful as a stock market operator you need to at least be aware of what you are paying. Having a disciple that attempts to understand what you are getting for the price you are paying will certainly force you to miss opportunities. A disciplined approach to security selection may also save you from financial ruin. *I, nor does Franklin Trend Management, own any shares of CSCO. In fact, I haven't owned shares of CSCO, in well, over 17 years. I am just using this graph as an example of how not to do it! Happy Returns, P. Franklin, Jr May 5th, 2017 All opinions and estimates included in this communication constitute the author’s judgment as of the date of this report and are subject to change without notice. This communication is for informational purposes only. It is not intended as an offer or solicitation with respect to the purchase or sale of any security. This information is subject to change at any time, based on market and other conditions. Any forward looking statements are just opinions – not a statement of fact. Investing may involve risk including loss of principal. Investment returns, particularly over shorter time periods are highly dependent on trends in the various investment markets. Past performance does not guarantee future results.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.ftminvest.com/blog-backup/2017/5/4/waltzing-with-stocks-and-bonds</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2019-01-08</lastmod>
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      <image:title>Blog - Waltzing with Stocks and Bonds</image:title>
    </image:image>
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  <url>
    <loc>https://www.ftminvest.com/blog-backup/2017/5/1/transportation-index-consolidating</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2019-01-08</lastmod>
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      <image:title>Blog - Transportation Index Consolidating</image:title>
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  <url>
    <loc>https://www.ftminvest.com/blog-backup/2017/4/28/capital-markets-wir</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2019-01-08</lastmod>
    <image:image>
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      <image:title>Blog - Capital Markets WIR - Are Stocks In A Bubble?</image:title>
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  <url>
    <loc>https://www.ftminvest.com/blog-backup/2017/4/28/economic-wir</loc>
    <changefreq>monthly</changefreq>
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    <lastmod>2019-01-08</lastmod>
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      <image:title>Blog - Economic WIR - Homes, Oil, &amp; Q1 GDP</image:title>
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    <image:image>
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      <image:title>Blog - Economic WIR - Homes, Oil, &amp; Q1 GDP</image:title>
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      <image:title>Blog - Economic WIR - Homes, Oil, &amp; Q1 GDP</image:title>
    </image:image>
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  <url>
    <loc>https://www.ftminvest.com/blog-backup/2017/4/26/why-this-matters-to-me-fund-flows</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2019-01-08</lastmod>
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      <image:title>Blog - Why This Matters To Me - Fund Flows</image:title>
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  <url>
    <loc>https://www.ftminvest.com/blog-backup/2017/4/25/why-this-matters-to-me-small-cap-stocks</loc>
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    <priority>0.5</priority>
    <lastmod>2019-01-08</lastmod>
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      <image:title>Blog - Why This Matters To Me - Small Cap Stocks</image:title>
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  <url>
    <loc>https://www.ftminvest.com/blog-backup/2017/4/21/as-a-us-investor-does-the-outcome-of-the-french-election-matter</loc>
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    <lastmod>2019-01-08</lastmod>
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      <image:title>Blog - As A US Investor, Does The Outcome Of The French Election Matter?</image:title>
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  <url>
    <loc>https://www.ftminvest.com/blog-backup/2017/4/19/has-the-cable-entered-a-new-uptrend</loc>
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    <priority>0.5</priority>
    <lastmod>2019-01-08</lastmod>
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      <image:title>Blog - Has The Cable Entered A New Uptrend?</image:title>
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  <url>
    <loc>https://www.ftminvest.com/blog-backup/2017/4/18/undertsanding-stock-market-structure</loc>
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    <lastmod>2019-01-08</lastmod>
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  <url>
    <loc>https://www.ftminvest.com/blog-backup/2017/4/14/the-further-you-look-back-in-history-the-further-you-will-see-into-the-future</loc>
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    <lastmod>2019-01-08</lastmod>
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      <image:title>Blog - The further you look back in history, the further you will see into the future.</image:title>
    </image:image>
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    <loc>https://www.ftminvest.com/blog-backup/2017/4/14/is-the-bond-bull-over-not-quite</loc>
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    <lastmod>2019-01-08</lastmod>
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      <image:title>Blog - Is The Bond Bull Over?  Not Quite!</image:title>
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    <loc>https://www.ftminvest.com/blog-backup/2017/4/14/how-to-use-information-to-profit-it-starts-with-you</loc>
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    <lastmod>2019-01-08</lastmod>
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    <loc>https://www.ftminvest.com/blog-backup/2017/4/14/us-dollar-index-poised-to-move-higher</loc>
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      <image:title>Blog - US Dollar Index Poised To Move Higher</image:title>
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    <loc>https://www.ftminvest.com/blog-backup/2017/4/14/2017-what-could-be-on-the-horizon</loc>
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