<?xml version="1.0" encoding="UTF-8"?><?xml-stylesheet type="text/xsl" href="//www.appliedfinance.com/wp-content/plugins/wordpress-seo/css/main-sitemap.xsl"?>
<urlset xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:image="http://www.google.com/schemas/sitemap-image/1.1" xsi:schemaLocation="http://www.sitemaps.org/schemas/sitemap/0.9 http://www.sitemaps.org/schemas/sitemap/0.9/sitemap.xsd http://www.google.com/schemas/sitemap-image/1.1 http://www.google.com/schemas/sitemap-image/1.1/sitemap-image.xsd" xmlns="http://www.sitemaps.org/schemas/sitemap/0.9">
	<url>
		<loc>https://www.appliedfinance.com/</loc>
		<lastmod>2020-01-10T19:22:27+00:00</lastmod>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2019/02/AF-Featured-Image.png</image:loc>
		</image:image>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/rafe-and-dan-thoughts/</loc>
		<lastmod>2019-02-11T22:40:45+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/applied-finance-material/</loc>
		<lastmod>2019-02-16T18:48:59+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/valuation-focused-investing/</loc>
		<lastmod>2019-05-17T21:55:39+00:00</lastmod>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2019/05/Intrisic-Value-Evoluation-Image.jpg</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2019/05/Valuation-50-Returns.png</image:loc>
		</image:image>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/stay-connected/</loc>
		<lastmod>2019-07-08T00:54:51+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/executive-due-diligence-workshop/</loc>
		<lastmod>2019-07-10T19:58:37+00:00</lastmod>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2019/03/Aria.jpg</image:loc>
		</image:image>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/value-vs-cheap-differentiate-your-practice-and-performance/</loc>
		<lastmod>2019-07-11T17:57:52+00:00</lastmod>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2019/07/ValvsCheapweb.png</image:loc>
		</image:image>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/investment-approach/</loc>
		<lastmod>2019-08-30T14:18:16+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/value-vs-cheap-replay-sm/</loc>
		<lastmod>2019-09-03T19:09:07+00:00</lastmod>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2019/07/Online-Webinar-Value-vs-Cheap-1.png</image:loc>
		</image:image>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/value-vs-cheapness-investing/</loc>
		<lastmod>2019-09-23T15:39:47+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/intrinsic-value/</loc>
		<lastmod>2019-10-09T18:19:42+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/1262-2/</loc>
		<lastmod>2019-10-23T19:51:21+00:00</lastmod>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2019/10/Thrive-Zero-Commissions-Applied-Finance-.png</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2019/10/Thrive-Zero-Commissions-Applied-Finance-.png</image:loc>
		</image:image>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/research-commentary/</loc>
		<lastmod>2020-01-07T18:24:21+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/commentary/</loc>
		<lastmod>2020-01-28T22:36:13+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/research/</loc>
		<lastmod>2020-01-29T22:33:40+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/webinar-valuation-driven-strategies/</loc>
		<lastmod>2020-04-10T18:16:20+00:00</lastmod>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/04/WebinarValuation50ValuationDividend.png</image:loc>
		</image:image>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/value-investing-valuation-vs-cheapness/</loc>
		<lastmod>2020-04-15T21:45:53+00:00</lastmod>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/04/10yrcheapnessreturns.png</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/04/10yrcheapnessreturns2-1.png</image:loc>
		</image:image>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/glossary/</loc>
		<lastmod>2020-05-13T17:40:58+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/balancing_wealthcreationandtracking/</loc>
		<lastmod>2020-06-01T12:34:32+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/upcoming-events/</loc>
		<lastmod>2020-06-04T15:16:23+00:00</lastmod>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/05/Valuation-Driven-Webinar-Series.png</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2019/02/Valuation-Driven-Webinar-Series-Learn.png</image:loc>
		</image:image>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/replay-valuation-driven-strategies/</loc>
		<lastmod>2020-06-05T14:59:09+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/meeting-chris/</loc>
		<lastmod>2020-06-10T18:27:17+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/applied-finance-investment-team-members/</loc>
		<lastmod>2020-06-24T19:38:48+00:00</lastmod>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/06/INVESTMENT-TEAM-MEMBERS-IMG.png</image:loc>
		</image:image>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/buy-and-sell-discipline/</loc>
		<lastmod>2020-06-24T19:40:18+00:00</lastmod>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/06/BUY-SELL-PROCESS-IMG.png</image:loc>
		</image:image>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/investment-style-vs-investment-focus/</loc>
		<lastmod>2020-06-24T19:41:26+00:00</lastmod>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/06/STYLE-BOX-9-BOX-IMG.png</image:loc>
		</image:image>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/why-most-active-managers-fail/</loc>
		<lastmod>2020-06-24T19:44:18+00:00</lastmod>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/06/emcalc2.png</image:loc>
		</image:image>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/who-is-applied-finance/</loc>
		<lastmod>2020-06-24T19:44:23+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/tax-aware-strategies/</loc>
		<lastmod>2020-06-24T19:44:28+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/strategy-support-and-research/</loc>
		<lastmod>2020-06-24T19:44:35+00:00</lastmod>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/06/SUPPORT-IMG.png</image:loc>
		</image:image>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/selecting-a-manager/</loc>
		<lastmod>2020-06-24T19:44:42+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/risk-management/</loc>
		<lastmod>2020-06-24T19:44:49+00:00</lastmod>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/06/RISK-WEALTH-CREATION-IMG.png</image:loc>
		</image:image>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/deconstructing-value-cfa-testimonials/</loc>
		<lastmod>2020-06-24T21:50:20+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/valuationdividend/</loc>
		<lastmod>2020-06-29T21:52:06+00:00</lastmod>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2019/11/valuation-dividend.png</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/04/vdiv0320.png</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2019/02/ValDivProcess.png</image:loc>
		</image:image>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/thank-you/</loc>
		<lastmod>2020-07-09T21:20:30+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/subcribe/</loc>
		<lastmod>2020-07-09T21:41:23+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/ourfirm/investment-research-team/</loc>
		<lastmod>2020-07-14T21:23:42+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/valuation-50/</loc>
		<lastmod>2020-07-16T17:15:05+00:00</lastmod>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2019/11/valuation-50.png</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/07/Valuation-50063020.png</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2019/02/Valuation-50-Process.png</image:loc>
		</image:image>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/replay-deconstructing-value-investing/</loc>
		<lastmod>2020-07-20T20:25:09+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/corporate-history/</loc>
		<lastmod>2020-07-24T14:00:28+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/glossary-2/</loc>
		<lastmod>2020-07-24T15:18:46+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/dvifeedback/</loc>
		<lastmod>2020-09-02T13:49:35+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/thevaluationedge/</loc>
		<lastmod>2020-09-03T18:35:45+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/valuation-strategies-factsheets/</loc>
		<lastmod>2020-09-10T20:30:38+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/valuation-beta-addressing-inadequacies-of-book-to-price-with-intrinsic-value-stewardship-and-leverage/</loc>
		<lastmod>2020-10-21T19:52:15+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/recent-research-updates/</loc>
		<lastmod>2020-10-22T21:05:46+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/intrinsic-value-gap/</loc>
		<lastmod>2020-11-10T13:14:01+00:00</lastmod>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/11/IVG.png</image:loc>
		</image:image>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/deconstructing-value-investing-valuation-vs-cheapness-2/</loc>
		<lastmod>2020-11-12T14:08:58+00:00</lastmod>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/04/DeconstructingValueInvesting.png</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/04/DeconstructingValueInvesting.png</image:loc>
		</image:image>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/valuation-50-linking-quantitative-and-fundamental-analysis-in-portfolio-construction/</loc>
		<lastmod>2020-12-09T21:23:21+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/valuation-beta-asset-pricing-model-critique/</loc>
		<lastmod>2020-12-09T21:34:14+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/contact-us/</loc>
		<lastmod>2020-12-11T16:15:32+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/valuation-edge-valuation-beta/</loc>
		<lastmod>2021-01-07T17:23:04+00:00</lastmod>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/11/VB111020.png</image:loc>
		</image:image>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/valuation-edge-challenging-the-status-quo/</loc>
		<lastmod>2021-01-12T02:39:53+00:00</lastmod>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2021/01/StatusQuo.png</image:loc>
		</image:image>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/economic-margin/</loc>
		<lastmod>2021-01-18T19:37:53+00:00</lastmod>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/07/EMWP1.jpg</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/07/EMWP2.jpg</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/07/EMWP3.jpg</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/07/EMWP4.jpg</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/07/EMWP5.jpg</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/07/EMWP6.jpg</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/07/EMWP7.jpg</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/07/EMWP8.jpg</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/07/EMWP9.jpg</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/07/EMWP10.jpg</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/07/EMWP11.jpg</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/07/EMWP12.jpg</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/07/EMWP13.jpg</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/07/EMWP14.jpg</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/07/EMWP15.jpg</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/07/EMWP16.jpg</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/07/EMWP17.jpg</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/07/EMWP18.jpg</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/07/EMWP19.jpg</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/07/EMWP20.jpg</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/07/EMWP21.jpg</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/07/EMWP22.jpg</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/07/EMWP23.jpg</image:loc>
		</image:image>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/valuation-vs-cheapness-investing-web/</loc>
		<lastmod>2021-01-19T22:45:11+00:00</lastmod>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2019/07/Valuevscheapnessinvestingdecember.png</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2019/07/Valuevscheapnessinvestingdecember.png</image:loc>
		</image:image>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/callsaul/</loc>
		<lastmod>2021-01-29T20:25:22+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/deconstructing-value/</loc>
		<lastmod>2021-02-25T17:33:56+00:00</lastmod>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/04/DeconstructingValueInvesting.png</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/04/DeconstructingValueInvesting.png</image:loc>
		</image:image>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/cfa-presentation-valuation-beta-reimagining-asset-pricing-through-a-security-analysis-lens/</loc>
		<lastmod>2021-03-04T22:01:24+00:00</lastmod>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2021/03/Twitter-5.png</image:loc>
		</image:image>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/valuation-edge-price-multiples-have-been-lying-to-you/</loc>
		<lastmod>2021-03-24T16:25:08+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/strategy-commentary/</loc>
		<lastmod>2021-04-15T19:48:10+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/valuation-edge-preparing-client-portfolios-for-tax-hikes/</loc>
		<lastmod>2021-05-21T16:14:56+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/valuation-edge-its-a-wealth-creators-market/</loc>
		<lastmod>2021-05-21T20:22:02+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/philosophy/</loc>
		<lastmod>2021-05-24T14:50:09+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/email/</loc>
		<lastmod>2021-05-24T20:57:43+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/applied-finance-firm-philosophy/</loc>
		<lastmod>2021-05-29T17:03:18+00:00</lastmod>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/06/vAL-DRIVEN-INVESTING-IMG.png</image:loc>
		</image:image>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/deconstructing-value-investing-valuation-vs-cheapness/</loc>
		<lastmod>2021-05-29T17:08:13+00:00</lastmod>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/04/DeconstructingValueInvesting.png</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/04/DeconstructingValueInvesting.png</image:loc>
		</image:image>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/applied-finance-competitive-advantage/</loc>
		<lastmod>2021-05-29T17:10:40+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/media/</loc>
		<lastmod>2021-06-30T16:48:49+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/think-growth-and-value-cant-coexist-think-again2/</loc>
		<lastmod>2021-07-06T18:18:16+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/market-in-pictures-issue-8/</loc>
		<lastmod>2021-07-21T15:09:22+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/forced-opinions-on-tesla-and-hidden-risk-in-long-duration-stocks/</loc>
		<lastmod>2021-07-21T15:12:02+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/valuation-edge/</loc>
		<lastmod>2021-07-23T19:32:37+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/valuation-and-wealth-creation-is-timeless/</loc>
		<lastmod>2021-08-17T19:23:33+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/the-60-year-schism-between-quantitative-vs-fundamental-analysis/</loc>
		<lastmod>2021-08-25T19:27:16+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/news/</loc>
		<lastmod>2021-09-06T12:55:52+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/economic-profit-horizon/</loc>
		<lastmod>2021-09-14T18:14:27+00:00</lastmod>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2021/08/EP2020.webp</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2021/02/2021-02-25_17-10-13.jpg</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2019/02/EPH2020-07-15_16-16-28-e1594847864595.png</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2021/02/2021-02-25_16-57-11.jpg</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2021/08/Micron-2021.jpg</image:loc>
		</image:image>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/risk-sage/</loc>
		<lastmod>2021-11-19T23:39:35+00:00</lastmod>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2021/11/Risk-Sage-e1637364016769.png</image:loc>
		</image:image>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/valuation-edge-whats-up-with-the-market/</loc>
		<lastmod>2022-02-15T22:29:40+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/quantitative-valuation/</loc>
		<lastmod>2022-02-23T16:20:42+00:00</lastmod>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/12/Applied-Finance-Quantitative-Valuation.png</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/12/Applied-Finance-Quantitative-Valuation.png</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/12/APPLIED-FINANCE-VS.-VALUE-MANAGERS-INtro.png</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/12/Intrinsic-Value-Factor-vs-Growth.png</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/12/Intrinsic-Value-Factor-vs-Market.png</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/12/Valuation-Beta-Asset-Pricing.png</image:loc>
		</image:image>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/john-holt-cfa-on-applied-finances-economic-margin/</loc>
		<lastmod>2022-03-02T21:49:22+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/john-holt-cfa-on-value-vs-valuation/</loc>
		<lastmod>2022-03-02T21:54:04+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/rafael-resendes-on-wealth-creation/</loc>
		<lastmod>2022-03-02T21:54:40+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/john-holt-cfa-discussing-the-investment-landscape-for-us-small-caps/</loc>
		<lastmod>2022-03-02T21:55:37+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/john-holt-cfa-on-avoiding-poor-stewards-of-capital/</loc>
		<lastmod>2022-03-02T21:56:07+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/economic-margin-valuation/</loc>
		<lastmod>2022-03-08T18:10:44+00:00</lastmod>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2021/03/Russell-1000-Intrinsic-Value-Stewardship.png</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2018/01/AFGi-LPL_ADR-Quality-Value-SMA.pdf</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2019/02/EPH2020-07-15_16-16-28-e1594847864595.png</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2019/02/Micron2020-07-15_16-10-36.png</image:loc>
		</image:image>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/valuation-day/</loc>
		<lastmod>2022-03-08T18:19:58+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/valuation-stewardship/</loc>
		<lastmod>2022-04-04T19:32:24+00:00</lastmod>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2022/04/2022-04-04_14-27-27.png</image:loc>
		</image:image>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/the-60-year-schism-between-quantitative-vs-fundamental-analysis-2/</loc>
		<lastmod>2022-05-06T15:43:43+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/newsletter/</loc>
		<lastmod>2022-06-26T21:13:06+00:00</lastmod>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2022/06/AFG-Newsletter.png</image:loc>
		</image:image>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/doom-gloom-often-leads-to-opportunities/</loc>
		<lastmod>2022-07-22T21:00:55+00:00</lastmod>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2022/07/do-nothing-image.jpg</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2022/07/market-timing-impossible.jpg</image:loc>
		</image:image>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/the-famous-quotes-edition/</loc>
		<lastmod>2022-07-27T14:58:43+00:00</lastmod>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2022/07/val-stew-img.jpg</image:loc>
		</image:image>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/valuation-driven-market-review-replay/</loc>
		<lastmod>2022-08-25T16:17:16+00:00</lastmod>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2022/08/webinar-cover-final.jpg</image:loc>
		</image:image>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/the-valuation-edge-party-like-its-1999/</loc>
		<lastmod>2022-09-06T20:36:08+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/valuation-edge-investment-style-twaddle/</loc>
		<lastmod>2022-09-06T20:36:46+00:00</lastmod>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/09/R1kChartJH.png</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/09/R1kGrowthChartJH.png</image:loc>
		</image:image>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/valuation-edge-setting-the-record-straight/</loc>
		<lastmod>2022-09-06T20:36:56+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/valuation-50-building-an-all-weather-portfolio/</loc>
		<lastmod>2022-09-23T14:57:24+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/valuation-50-returns-all-weather-characteristics/</loc>
		<lastmod>2022-11-15T20:33:34+00:00</lastmod>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2022/10/overall-performance_placeholder.jpg</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2022/10/30_40_30_final.jpg</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2022/10/allweather_placeholder.jpg</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2022/10/period1_tbl_outperform.jpg</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2022/10/period2_tbl_outperform.jpg</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2022/10/return-comps-period-1-and-2.jpg</image:loc>
		</image:image>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/if-you-cant-take-the-heat/</loc>
		<lastmod>2022-12-20T15:03:12+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/intrinsic-value-wealth-creation-in-small-cap-stocks/</loc>
		<lastmod>2022-12-23T16:51:41+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/disclosures/</loc>
		<lastmod>2023-01-20T14:44:43+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/wealth-creation-effect/</loc>
		<lastmod>2023-02-20T13:00:45+00:00</lastmod>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2022/04/q122_img1.jpg</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2023/02/wc2023-02-20_06-50-47.png</image:loc>
		</image:image>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/systematic-fundamental-analysis/</loc>
		<lastmod>2023-04-02T17:58:43+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/confirmation/</loc>
		<lastmod>2023-06-14T16:13:44+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/valuation-50-support-resources/</loc>
		<lastmod>2023-10-27T16:17:45+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/ourfirm/</loc>
		<lastmod>2024-09-25T12:19:04+00:00</lastmod>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2019/02/ABOUT-Applied-Finance-Capital-Managment.png</image:loc>
		</image:image>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/valuation-50-communications-resources/</loc>
		<lastmod>2025-01-29T15:56:03+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/investment-process/</loc>
		<lastmod>2025-02-25T21:56:49+00:00</lastmod>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2019/02/Micron2020-07-15_16-10-36.png</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/07/AMZN-2020-07-15_15-37-21.png</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2020/07/Micron2020-07-15_16-10-36.png</image:loc>
		</image:image>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/valuationedge/</loc>
		<lastmod>2025-04-29T14:47:07+00:00</lastmod>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2021/01/Valuation-Edge.png</image:loc>
		</image:image>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/intrinsic-value-edge/</loc>
		<lastmod>2025-04-29T19:06:21+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/the-passive-performance-tax/</loc>
		<lastmod>2025-06-24T23:15:34+00:00</lastmod>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2025/06/Ptax.jpg</image:loc>
		</image:image>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/valuation-stewardship-strategy-overview/</loc>
		<lastmod>2025-10-08T22:54:46+00:00</lastmod>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2025/09/Val-Stew-Growth-of-1000.png</image:loc>
		</image:image>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/safer-market/</loc>
		<lastmod>2025-10-24T15:10:03+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/intrinsic-value-stewardship-ivs-u-s-large-strategy-overview/</loc>
		<lastmod>2025-11-21T19:09:57+00:00</lastmod>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2025/11/IVS-US-Large-Growth-1000.png</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2025/11/IVS-US-Large-up-down.png</image:loc>
		</image:image>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/explorer-strategy-overview/</loc>
		<lastmod>2025-11-21T19:10:00+00:00</lastmod>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2025/11/Explorer-growth1k.png</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2025/11/explorer-up-down-capture.png</image:loc>
		</image:image>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/investment-strategies-draft3/</loc>
		<lastmod>2026-03-05T01:37:32+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/leave-site/</loc>
		<lastmod>2026-04-20T21:53:36+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/test-fork-page/</loc>
		<lastmod>2026-04-29T16:21:15+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/focused-strategies-strategy-resources/</loc>
		<lastmod>2026-04-29T19:05:26+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/intrinsic-value-stewardship-ivs-core-strategies-test123/</loc>
		<lastmod>2026-04-29T19:06:10+00:00</lastmod>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2026/04/IVS-Process.png</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2026/04/IVS-NO-Overlap.png</image:loc>
		</image:image>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/intrinsic-value-stewardship-ivs-core-strategies-version-2/</loc>
		<lastmod>2026-04-30T16:40:52+00:00</lastmod>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2026/04/IVS-Process.png</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2026/04/IVS-NO-Overlap.png</image:loc>
		</image:image>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/select-a-strategy-family/</loc>
		<lastmod>2026-04-30T16:41:55+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/focused-strategies-version2/</loc>
		<lastmod>2026-04-30T16:42:12+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/intrinsic-value-stewardship-ivs-core-strategies/</loc>
		<lastmod>2026-07-20T18:19:40+00:00</lastmod>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2026/04/IVS-Process.png</image:loc>
		</image:image>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2026/04/IVS-NO-Overlap.png</image:loc>
		</image:image>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/investment-strategies/</loc>
		<lastmod>2026-07-20T18:30:05+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/applied-finance-strategy-resources/</loc>
		<lastmod>2026-08-05T15:43:39+00:00</lastmod>
	</url>
	<url>
		<loc>https://www.appliedfinance.com/schwabimpact/</loc>
		<lastmod>2026-08-14T21:00:29+00:00</lastmod>
		<image:image>
			<image:loc>https://www.appliedfinance.com/wp-content/uploads/2022/12/AFlogo.png</image:loc>
		</image:image>
	</url>
</urlset>
<!-- XML Sitemap generated by Yoast SEO -->