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      <image:title>The Weekly - The Weekly: Edition #98 - May 21st, 2021</image:title>
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      <image:title>The Weekly - The Weekly: Edition #97 - May 14th, 2021</image:title>
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      <image:title>The Weekly - The Weekly: Edition #97 - May 14th, 2021</image:title>
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      <image:title>The Weekly - The Weekly: Edition #97 - May 14th, 2021</image:title>
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      <image:title>The Weekly - The Weekly: Edition #95 - April 30th, 2021</image:title>
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      <image:title>The Weekly - The Weekly: Edition #94 - April 23rd, 2021</image:title>
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      <image:title>The Weekly - The Weekly: Edition #94 - April 23rd, 2021</image:title>
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      <image:title>The Weekly - The Weekly: Edition #94 - April 23rd, 2021</image:title>
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      <image:title>The Weekly - The Weekly: Edition #93 - April 16th, 2021</image:title>
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      <image:title>The Weekly - The Weekly: Edition #93 - April 16th, 2021</image:title>
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      <image:title>The Weekly - The Weekly: Edition #93 - April 16th, 2021</image:title>
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      <image:title>The Weekly - The Weekly: Edition #93 - April 16th, 2021</image:title>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Unqualified Opinions - The Point of This - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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    <image:image>
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      <image:title>Unqualified Opinions - The Point of This - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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  <url>
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      <image:title>Unqualified Opinions - A Literal Bat Cave - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Unqualified Opinions - A Literal Bat Cave - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Unqualified Opinions - We Sold Something - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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    <image:image>
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      <image:title>Unqualified Opinions - We Sold Something - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Unqualified Opinions - D-A-N-G-E-R Shortcut - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Unqualified Opinions - D-A-N-G-E-R Shortcut - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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  <url>
    <loc>https://www.permanentequity.com/unqualified-opinions-roll/illusory-margins</loc>
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      <image:title>Unqualified Opinions - Illusory Margins - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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    <image:image>
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      <image:title>Unqualified Opinions - Illusory Margins - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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  </url>
  <url>
    <loc>https://www.permanentequity.com/unqualified-opinions-roll/the-point-of-money</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-03-06</lastmod>
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      <image:title>Unqualified Opinions - The Point of Money - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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    <image:image>
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      <image:title>Unqualified Opinions - The Point of Money - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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  <url>
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    <changefreq>monthly</changefreq>
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      <image:title>Unqualified Opinions - Blips and Discount Rates - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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    <image:image>
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      <image:title>Unqualified Opinions - Blips and Discount Rates - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Unqualified Opinions - Leadership and Upheaval - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-03-03</lastmod>
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      <image:title>Unqualified Opinions - Don’t Vote - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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    <image:image>
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      <image:title>Unqualified Opinions - Don’t Vote - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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  <url>
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    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-03-02</lastmod>
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      <image:title>Unqualified Opinions - Being Obsolete - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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    <image:image>
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      <image:title>Unqualified Opinions - Being Obsolete - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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    <changefreq>monthly</changefreq>
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    <lastmod>2026-02-27</lastmod>
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      <image:title>Unqualified Opinions - Barber Shop Chili - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
    <image:image>
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      <image:title>Unqualified Opinions - Barber Shop Chili - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-02-26</lastmod>
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      <image:title>Unqualified Opinions - Funny Stories are the Best - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
    <image:image>
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      <image:title>Unqualified Opinions - Funny Stories are the Best - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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    <loc>https://www.permanentequity.com/unqualified-opinions-roll/mr-claude</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-02-25</lastmod>
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      <image:title>Unqualified Opinions - Mr. Claude - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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    <image:image>
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      <image:title>Unqualified Opinions - Mr. Claude - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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  <url>
    <loc>https://www.permanentequity.com/unqualified-opinions-roll/why-is-the-phone-ringing</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-02-24</lastmod>
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      <image:title>Unqualified Opinions - Why is the Phone Ringing? - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
    <image:image>
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      <image:title>Unqualified Opinions - Why is the Phone Ringing? - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
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    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-02-23</lastmod>
    <image:image>
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      <image:title>Unqualified Opinions - On a Scale from Swimming to Soccer - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Unqualified Opinions - On a Scale from Swimming to Soccer - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-02-20</lastmod>
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      <image:title>Unqualified Opinions - My Favorite Fraud - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
    <image:image>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
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  <url>
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    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-02-19</lastmod>
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      <image:title>Unqualified Opinions - Blessed to Lose - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Unqualified Opinions - Blessed to Lose - Make it stand out</image:title>
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      <image:title>Unqualified Opinions - Soliciting Common Sense - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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    <loc>https://www.permanentequity.com/unqualified-opinions-roll/fees-and-returns</loc>
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      <image:title>Unqualified Opinions - Fees and Returns - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/c744e791-1663-4afe-a5b0-8d93b32ce9be/fees+and+returns.png</image:loc>
      <image:title>Unqualified Opinions - Fees and Returns - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
    <image:image>
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      <image:title>Unqualified Opinions - Sometimes It’s Not - Make it stand out</image:title>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Unqualified Opinions - Posture and Performance - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/ed152168-a183-42f2-8aa6-e81a0299c4bd/posture+and+performance.png</image:loc>
      <image:title>Unqualified Opinions - Posture and Performance - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Unqualified Opinions - Because Aspirational - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Unqualified Opinions - Google Bops Along - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
    <image:image>
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      <image:title>Unqualified Opinions - Google Bops Along - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
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      <image:title>Unqualified Opinions - Egregiously Bad Calls - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Unqualified Opinions - Egregiously Bad Calls - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
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      <image:title>Unqualified Opinions - It’s Chaos - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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    <image:image>
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      <image:title>Unqualified Opinions - It’s Chaos - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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    <changefreq>monthly</changefreq>
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      <image:title>Unqualified Opinions - Patience &amp;amp; Delusion - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
    <image:image>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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    <lastmod>2026-02-15</lastmod>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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  </url>
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    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
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      <image:title>Unqualified Opinions - Real Returns - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
    <image:image>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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    <changefreq>monthly</changefreq>
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      <image:title>Unqualified Opinions - They Don’t Know Ball - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Unqualified Opinions - Appreciation for Depreciation - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Unqualified Opinions - This is a No-Brainer - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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    <lastmod>2026-02-15</lastmod>
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      <image:title>Unqualified Opinions - Call Someone - Make it stand out</image:title>
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      <image:title>Unqualified Opinions - Call Someone - Make it stand out</image:title>
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  <url>
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      <image:title>Unqualified Opinions - Better Returns - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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  </url>
  <url>
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    <changefreq>monthly</changefreq>
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      <image:title>Unqualified Opinions - No Competition Is the Worst - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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  <url>
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    <changefreq>monthly</changefreq>
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      <image:title>Unqualified Opinions - The Cost of Shutting It Down - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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    <image:image>
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      <image:title>Unqualified Opinions - The Cost of Shutting It Down - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Unqualified Opinions - Chainsaw Vibes - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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    <image:image>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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  </url>
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    <loc>https://www.permanentequity.com/unqualified-opinions-roll/quantity-and-quality</loc>
    <changefreq>monthly</changefreq>
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    <lastmod>2026-02-15</lastmod>
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      <image:title>Unqualified Opinions - Quantity and Quality - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/7cc9f514-578f-4c3b-9c6c-1f22e632eb26/MOAR+again.png</image:loc>
      <image:title>Unqualified Opinions - Quantity and Quality - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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  </url>
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    <changefreq>monthly</changefreq>
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    <lastmod>2026-02-15</lastmod>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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    <changefreq>monthly</changefreq>
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    <lastmod>2026-02-15</lastmod>
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      <image:title>Unqualified Opinions - Culture is Shared - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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    <changefreq>monthly</changefreq>
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    <lastmod>2026-02-15</lastmod>
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      <image:title>Unqualified Opinions - Take the L - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Unqualified Opinions - Take the L - Make it stand out</image:title>
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    <lastmod>2026-02-15</lastmod>
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      <image:title>Unqualified Opinions - Why the Midwest - Make it stand out</image:title>
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      <image:title>Unqualified Opinions - Summer Job Arbitrage - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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    <lastmod>2026-02-15</lastmod>
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      <image:title>Unqualified Opinions - Financial Engineering and Diminishing Returns - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Unqualified Opinions - Financial Engineering and Diminishing Returns - Make it stand out</image:title>
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    <changefreq>monthly</changefreq>
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    <lastmod>2026-02-15</lastmod>
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      <image:title>Unqualified Opinions - Forget What Legal Says - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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    <image:image>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Unqualified Opinions - I’m Not Scouting U9 Soccer - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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    <changefreq>monthly</changefreq>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Unqualified Opinions - People and Mindset - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Unqualified Opinions - The Biggest Competitive Advantage - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Unqualified Opinions - The Biggest Competitive Advantage - Make it stand out</image:title>
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    <changefreq>monthly</changefreq>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Unqualified Opinions - Time and Money - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Unqualified Opinions - You Can’t Buy a Car on Sunday - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Unqualified Opinions - You Can’t Buy a Car on Sunday - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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    <loc>https://www.permanentequity.com/unqualified-opinions-roll/reliably-predictable</loc>
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      <image:title>Unqualified Opinions - Reliably Predictable - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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    <image:image>
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      <image:title>Unqualified Opinions - Reliably Predictable - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Unqualified Opinions - Being Right and Wrong - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Unqualified Opinions - Being Right and Wrong - Make it stand out</image:title>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Unqualified Opinions - You’re Interesting and I’m Optimistic - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Unqualified Opinions - Don’t Believe What You Read? - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Unqualified Opinions - Risk, and Other People’s Money - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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    <image:image>
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      <image:title>Unqualified Opinions - Risk, and Other People’s Money - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Unqualified Opinions - What Next? - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Unqualified Opinions - What Next? - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Unqualified Opinions - Have a Bad Ass Weekend - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Unqualified Opinions - Have a Bad Ass Weekend - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Unqualified Opinions - Deflection and Direction - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Unqualified Opinions - Deflection and Direction - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Unqualified Opinions - Not the Thumbs Up! - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Unqualified Opinions - Is It Real? - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Unqualified Opinions - Is It Real? - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Unqualified Opinions - Learning and the Unlearnable - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Unqualified Opinions - Be Careful - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Unqualified Opinions - Remember Bad Presidents - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Unqualified Opinions - What Makes Special - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Unqualified Opinions - The Adult Coed Division - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Unqualified Opinions - Return of CIMple Truths - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Unqualified Opinions - Return of CIMple Truths - Make it stand out</image:title>
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      <image:title>Unqualified Opinions - Return of CIMple Truths - Make it stand out</image:title>
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      <image:title>Unqualified Opinions - Return of CIMple Truths - Make it stand out</image:title>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Unqualified Opinions - Permanent Equity’s Secret Formula - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Unqualified Opinions - Man United, the Cowboys, Buffett, and Ice Cubes - Make it stand out</image:title>
      <image:caption>Source: roic.ai</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Unqualified Opinions - CIMple Truths - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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    <priority>0.5</priority>
    <lastmod>2026-02-09</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/915172bb-3378-40db-a320-422270e06257/The+Sweep.png</image:loc>
      <image:title>Content Library - Portfolio Construction &amp;amp; the Lower Middle Market</image:title>
      <image:caption>The answer to how much money, how great an expectation, and how significant a profit is also a moving target and relative to other potential investments.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/084b0c8e-6612-4964-b944-8ca5c96b0f57/Weakside.png</image:loc>
      <image:title>Content Library - Portfolio Construction &amp;amp; the Lower Middle Market</image:title>
      <image:caption>Knowing your objective means defining how much money you will invest and what the cost of that capital is in order to determine your investment’s capacity and required rate of return.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/5452f08f-9a5a-43e1-bd93-10ecc54aed11/Cutback.png</image:loc>
      <image:title>Content Library - Portfolio Construction &amp;amp; the Lower Middle Market</image:title>
      <image:caption>Never invest an amount that, if it did go to zero, would prevent you from investing in something else.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/d4de8a77-6de7-44ea-8546-d6ec708514fc/The+Split+Buck.png</image:loc>
      <image:title>Content Library - Portfolio Construction &amp;amp; the Lower Middle Market</image:title>
      <image:caption>If you’re building a portfolio of small, private businesses then you’ll want to be as highly diversified as you can be, but…what makes for diversification in this space can be incredibly idiosyncratic.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/3b481393-99df-401b-b420-46a643dd0201/The+In+and+Out+Run.png</image:loc>
      <image:title>Content Library - Portfolio Construction &amp;amp; the Lower Middle Market</image:title>
      <image:caption>All of these things are risks, and if you are going to take them, our view is that you need to be compensated for doing so. How do you do that?</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/b8a3a976-b903-45bb-bcbc-9e2120defc28/Spinner.png</image:loc>
      <image:title>Content Library - Portfolio Construction &amp;amp; the Lower Middle Market</image:title>
      <image:caption>But if it’s true that things become more correlated when they start going really badly, then the benefits of being diversified are reduced at precisely the time you need them the most.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/ddc8d341-e1cb-4fbe-b517-671d931c41a5/Image+4-17-24+at+9.49+AM.jpeg</image:loc>
      <image:title>Content Library - Portfolio Construction &amp;amp; the Lower Middle Market - Make it stand out</image:title>
      <image:caption>Graph showing why higher volatility events are more correlated because they are less clustered, reproduced from Loretan and English, BIS Quarterly Review, June 2000.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/454e167c-cdda-4aa7-ab00-00fb7e1302de/Image+4-17-24+at+9.50+AM.jpeg</image:loc>
      <image:title>Content Library - Portfolio Construction &amp;amp; the Lower Middle Market - Make it stand out</image:title>
      <image:caption>Graph showing the average correlation of capital appreciation returns for all available markets, reproduced from Goetzmann, Li, and Rouwenhorst, “Long-Term Global Market Correlations,” NBER Working Paper Series, November 2001.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/3966a5b4-3738-4c5b-9928-0e42170e4f5f/Image+4-17-24+at+9.52+AM.jpeg</image:loc>
      <image:title>Content Library - Portfolio Construction &amp;amp; the Lower Middle Market - Make it stand out</image:title>
      <image:caption>Table showing the correlation between global indexes from 11/1/07-10/31/12, reproduced from “Why Have Global Correlations Increased?” Morningstar, November 2012.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/93201662-90b4-470d-9cbb-e099ef2a3e8c/Image+4-17-24+at+9.52+AM.jpeg</image:loc>
      <image:title>Content Library - Portfolio Construction &amp;amp; the Lower Middle Market - Make it stand out</image:title>
      <image:caption>Table showing the correlation between indexes post-Covid (from 1/20-12/22), reproduced from “The Correlation Conundrum,” Swan Global Investments.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/915172bb-3378-40db-a320-422270e06257/The+Sweep.png</image:loc>
      <image:title>Content Library - Portfolio Construction &amp;amp; the Lower Middle Market</image:title>
      <image:caption>Either you or the world is always moving on. You to different objectives and ambitions, and the world to different bubbles and busts.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/content/2023-annual-letter</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-02-09</lastmod>
  </url>
  <url>
    <loc>https://www.permanentequity.com/content/a-long-term-posture-on-diligence</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-02-09</lastmod>
  </url>
  <url>
    <loc>https://www.permanentequity.com/content/lies-damned-lies-and-innocent-mistakes-misrepresentations-in-due-diligence</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-02-09</lastmod>
  </url>
  <url>
    <loc>https://www.permanentequity.com/content/diligence-self-check</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-02-09</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/aa1e6f57-3796-436b-9f60-5a2452f1a861/shampoo.png</image:loc>
      <image:title>Content Library - The Head &amp;amp; Shoulders Diligence Self-Check - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/content/setting-diligence-objectives</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-02-09</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/a363fa02-ef23-4971-be4a-9c4d9c970127/buyer+behavior.png</image:loc>
      <image:title>Content Library - Setting Diligence Objectives - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/content/diligence-intro-letter</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-02-09</lastmod>
  </url>
  <url>
    <loc>https://www.permanentequity.com/content/invisible-ties-and-fun-rides</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-02-09</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/f131d8fb-e962-4b48-9c6a-fe83f6402c04/cr_detail_hypercoasters.jpg</image:loc>
      <image:title>Content Library - Invisible Ties &amp;amp; Fun Rides - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/cd3aeb0d-0246-47f1-ae00-85411b51a429/cr_detail_28ftdd_carrousel.jpg</image:loc>
      <image:title>Content Library - Invisible Ties &amp;amp; Fun Rides - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/031cfcaf-a44c-4379-81f0-6a997eae397b/cr_detail_hypergtx.jpg</image:loc>
      <image:title>Content Library - Invisible Ties &amp;amp; Fun Rides - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/1e9e9da0-3dda-49b6-b3e2-4462b867df87/cr_detail_28ft_carrousel.jpg</image:loc>
      <image:title>Content Library - Invisible Ties &amp;amp; Fun Rides - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/9a478775-b706-4e7c-967c-bf1677ecfe24/cr_rides_sm_yoyo.jpg</image:loc>
      <image:title>Content Library - Invisible Ties &amp;amp; Fun Rides - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/21264727-f23c-44b1-b509-4fa454c8dd94/Pandemonium-5.jpg</image:loc>
      <image:title>Content Library - Invisible Ties &amp;amp; Fun Rides - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/e2a75844-dbc3-4f70-b6f2-7942ba84df3d/cr_detail_cph.jpg</image:loc>
      <image:title>Content Library - Invisible Ties &amp;amp; Fun Rides - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/ddf228d5-35be-49e3-89fe-190f0bf20333/products_gallery_stlouis_wheel2_unionst.jpg</image:loc>
      <image:title>Content Library - Invisible Ties &amp;amp; Fun Rides - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/content/understanding-people-with-john-marsh</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-02-09</lastmod>
  </url>
  <url>
    <loc>https://www.permanentequity.com/content/the-hard-things-about-holdcos-with-bill-dalessandro</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-02-09</lastmod>
  </url>
  <url>
    <loc>https://www.permanentequity.com/content/building-a-new-story-with-brett-hagler</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-02-09</lastmod>
  </url>
  <url>
    <loc>https://www.permanentequity.com/content/permanent-equitys-hiring-playbook</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-02-09</lastmod>
  </url>
  <url>
    <loc>https://www.permanentequity.com/content/rolling-equity</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-02-09</lastmod>
  </url>
  <url>
    <loc>https://www.permanentequity.com/content/scaling-people-with-claire-hughes-johnson</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-02-09</lastmod>
  </url>
  <url>
    <loc>https://www.permanentequity.com/content/how-to-conduct-a-pre-mortem</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-02-09</lastmod>
  </url>
  <url>
    <loc>https://www.permanentequity.com/content/the-psychology-of-luck-with-morgan-housel</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-02-09</lastmod>
  </url>
  <url>
    <loc>https://www.permanentequity.com/content/nodes-complexity-growth</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-02-09</lastmod>
  </url>
  <url>
    <loc>https://www.permanentequity.com/content/how-to-supercharge-your-overperformers</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-02-09</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/ee06e201-66a8-4384-88ea-f350c7c019a4/Supercharge.png</image:loc>
      <image:title>Content Library - How to Supercharge Your Overperformers - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/content/there-is-no-either-or-in-family-businesses-with-jamie-shah</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-02-09</lastmod>
  </url>
  <url>
    <loc>https://www.permanentequity.com/content/whats-your-brand</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-02-09</lastmod>
  </url>
  <url>
    <loc>https://www.permanentequity.com/content/underwriting-based-on-exit-arbitrage-vs-free-cash-flow</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-02-09</lastmod>
  </url>
  <url>
    <loc>https://www.permanentequity.com/content/how-to-succeed-in-business-by-being-unreasonable</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-02-09</lastmod>
  </url>
  <url>
    <loc>https://www.permanentequity.com/content/building-a-world-one-hug-at-a-time-with-john-fio</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-02-09</lastmod>
  </url>
  <url>
    <loc>https://www.permanentequity.com/content/the-messy-wall</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-02-09</lastmod>
  </url>
  <url>
    <loc>https://www.permanentequity.com/content/svb-fallout-3-ways-to-mitigate-your-banking-risk</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-02-09</lastmod>
  </url>
  <url>
    <loc>https://www.permanentequity.com/content/employee-reviews-in-review</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-02-09</lastmod>
  </url>
  <url>
    <loc>https://www.permanentequity.com/content/the-skeleton-talk</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-02-18</lastmod>
  </url>
  <url>
    <loc>https://www.permanentequity.com/content/what-retailers-want-from-smbs-with-brittany-crosby</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-02-09</lastmod>
  </url>
  <url>
    <loc>https://www.permanentequity.com/content/how-to-build-without-buying</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-02-09</lastmod>
  </url>
  <url>
    <loc>https://www.permanentequity.com/content/real-meaning-and-real-estate-with-chris-powers</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-02-09</lastmod>
  </url>
  <url>
    <loc>https://www.permanentequity.com/content/multiply-by-11</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-02-09</lastmod>
  </url>
  <url>
    <loc>https://www.permanentequity.com/content/parties-price-terms-structure-understanding-structured-offers</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-02-09</lastmod>
  </url>
  <url>
    <loc>https://www.permanentequity.com/content/look-for-the-builders-with-anu-hariharan</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-02-09</lastmod>
  </url>
  <url>
    <loc>https://www.permanentequity.com/content/how-to-say-thank-you</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-02-10</lastmod>
  </url>
  <url>
    <loc>https://www.permanentequity.com/content/economic-flyover-with-aaron-hedlund</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-02-10</lastmod>
  </url>
  <url>
    <loc>https://www.permanentequity.com/content/how-to-use-your-network-or-who-to-ask-for-what-and-why</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-02-10</lastmod>
  </url>
  <url>
    <loc>https://www.permanentequity.com/content/getting-in-the-room-to-women-with-career-ambitions-in-investing</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2025-02-18</lastmod>
  </url>
  <url>
    <loc>https://www.permanentequity.com/content/how-to-sell-a-business-in-2023</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-02-10</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/006dec1a-b892-42a8-9c23-c890a0ecd8f6/Market+conditions+final.png</image:loc>
      <image:title>Content Library - How to Sell a Business in 2023 - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/content/find-hire-keep-part-3-hiring-vs-retaining</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-02-10</lastmod>
  </url>
  <url>
    <loc>https://www.permanentequity.com/content/find-hire-keep-part-2-designing-a-hiring-process-that-works-for-you</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-02-10</lastmod>
  </url>
  <url>
    <loc>https://www.permanentequity.com/content/find-hire-keep-part-1-who-are-you-competing-with-and-how-do-you-compete</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-02-10</lastmod>
  </url>
  <url>
    <loc>https://www.permanentequity.com/content/tackling-people-problems-with-amy-blaisdell</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-02-10</lastmod>
  </url>
  <url>
    <loc>https://www.permanentequity.com/content/why-discipline-doesnt-matter-with-shane-parrish</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-02-10</lastmod>
  </url>
  <url>
    <loc>https://www.permanentequity.com/content/the-dangers-of-ask-around-getting-institutional-knowledge-out-in-the-open</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-02-10</lastmod>
  </url>
  <url>
    <loc>https://www.permanentequity.com/content/how-to-raise-prices-if-youre-feeling-guilty</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2025-03-12</lastmod>
  </url>
  <url>
    <loc>https://www.permanentequity.com/content/doing-more-with-less-in-multipliers</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-02-10</lastmod>
  </url>
  <url>
    <loc>https://www.permanentequity.com/content/15-years-in-the-trenches-of-smb-acquisitions-and-operations-2022-annual-letter</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-02-10</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/fcb7b6bf-b1d5-43fe-96d1-30c940168dc4/Group%2BPE%2BPortraits%2B6535.jpg</image:loc>
      <image:title>Content Library - 15 Years in the Trenches of SMB Acquisitions and Operations: 2022 Annual Letter - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Some visual consistency will be maintained in colors, and the mark will be an evolution of the “a.” we used historically.</image:caption>
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      <image:caption>Source: Pepperdine Private Capital Market's Market Pulse Survey</image:caption>
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      <image:caption>Source: Pepperdine Private Capital Market's Market Pulse Survey</image:caption>
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      <image:title>Content Library - The Micro PE Reality Check - Make it stand out</image:title>
      <image:caption>Source: Pepperdine Private Capital Market's Market Pulse Survey</image:caption>
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      <image:title>Content Library - View from the Trenches: The 2018 Owner / Operator Survey</image:title>
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      <image:title>Content Library - View from the Trenches: The 2018 Owner / Operator Survey</image:title>
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      <image:title>Content Library - View from the Trenches: The 2018 Owner / Operator Survey</image:title>
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      <image:title>Content Library - View from the Trenches: The 2018 Owner / Operator Survey</image:title>
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      <image:title>Content Library - View from the Trenches: The 2018 Owner / Operator Survey</image:title>
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      <image:title>Content Library - View from the Trenches: The 2018 Owner / Operator Survey</image:title>
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      <image:title>Content Library - View from the Trenches: The 2018 Owner / Operator Survey</image:title>
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      <image:title>Content Library - View from the Trenches: The 2018 Owner / Operator Survey</image:title>
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      <image:title>Content Library - View from the Trenches: The 2018 Owner / Operator Survey</image:title>
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      <image:title>Content Library - View from the Trenches: The 2018 Owner / Operator Survey</image:title>
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      <image:title>Content Library - View from the Trenches: The 2018 Owner / Operator Survey</image:title>
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    <image:image>
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      <image:title>Content Library - View from the Trenches: The 2018 Owner / Operator Survey</image:title>
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    <image:image>
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      <image:title>Content Library - View from the Trenches: The 2018 Owner / Operator Survey</image:title>
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    <image:image>
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      <image:title>Content Library - View from the Trenches: The 2018 Owner / Operator Survey</image:title>
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    <image:image>
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      <image:title>Content Library - View from the Trenches: The 2018 Owner / Operator Survey</image:title>
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    <image:image>
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      <image:title>Content Library - View from the Trenches: The 2018 Owner / Operator Survey</image:title>
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    <image:image>
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      <image:title>Content Library - View from the Trenches: The 2018 Owner / Operator Survey</image:title>
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    <image:image>
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      <image:title>Content Library - View from the Trenches: The 2018 Owner / Operator Survey</image:title>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Deal Terms - Indemnification: Tax Treatment of Indemnification Payments</image:title>
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    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-13</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/b2b71a0b-5c40-46d1-a307-9ee95b44103e/12.png</image:loc>
      <image:title>Deal Terms - Indemnification: Indemnification by Buyer</image:title>
      <image:caption>Essential Question: In Brief:</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/indemnification-by-seller</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-13</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/956cdd29-4de2-46e1-a77d-32547ee7799c/22.png</image:loc>
      <image:title>Deal Terms - Indemnification: Indemnification by Seller</image:title>
      <image:caption>Essential Question: In Brief:</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/survival</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-13</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/ea87458e-fc27-4373-93e8-a3021ae17f99/32.png</image:loc>
      <image:title>Deal Terms - Indemnification: Survival</image:title>
      <image:caption>Essential Question: In Brief:</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/conditions-to-obligations-of-seller</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-13</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/492dfef4-46b9-436a-8a43-0226eba0b6a3/42.png</image:loc>
      <image:title>Deal Terms - Conditions to Closing: Conditions to Obligations of Seller</image:title>
      <image:caption>Essential Question: In Brief:</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/conditions-to-obligations-of-buyer</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-13</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/14be9314-a5c2-45c9-bfd2-3ddb8c5f8044/52.png</image:loc>
      <image:title>Deal Terms - Conditions to Closing: Conditions to Obligations of Buyer</image:title>
      <image:caption>Essential Question: In Brief:</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/conditions-to-obligations-of-all-parties</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-13</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/d3b6868f-6e5f-4f2a-84b8-71a9080ed4ce/62.png</image:loc>
      <image:title>Deal Terms - Conditions to Closing: Conditions to Obligations of All Parties</image:title>
      <image:caption>Essential Question: In Brief:</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/further-assurances</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-13</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/2d8cfea5-d36f-489f-b7ff-1f7fade7528e/03.png</image:loc>
      <image:title>Deal Terms - Covenants: Further Assurances</image:title>
      <image:caption>Essential Question: In Brief:</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/tax-clearance-certificates</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-13</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/f69a6aa5-0a33-4f55-b62c-09d0f939803d/13.png</image:loc>
      <image:title>Deal Terms - Covenants: Tax Clearance Certificates</image:title>
      <image:caption>Essential Question: In Brief:</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/transfer-taxes</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-13</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/00547c1a-100d-4592-817c-9b1cc1529727/23.png</image:loc>
      <image:title>Deal Terms - Covenants: Transfer Taxes</image:title>
      <image:caption>Essential Question: In Brief:</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/receivables</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-13</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/728b13dd-af45-4fae-986d-5c548c701e72/33.png</image:loc>
      <image:title>Deal Terms - Covenants: Receivables</image:title>
      <image:caption>Essential Question: In Brief:</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/bulk-sales-laws</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-13</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/83ab3b68-e0a4-4e5e-818d-c5d513c0b247/43.2.png</image:loc>
      <image:title>Deal Terms - Covenants: Bulk Sales Laws</image:title>
      <image:caption>Essential Question: In Brief:</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/public-announcements</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-12</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/9a760980-ee16-4789-92a5-3be4ebcd36e0/53.png</image:loc>
      <image:title>Deal Terms - Covenants: Public Announcements</image:title>
      <image:caption>Essential Question: In Brief:</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/closing-conditions</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-12</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/b4ac6122-20c2-4ad5-bac6-f6d14c205499/63.png</image:loc>
      <image:title>Deal Terms - Covenants: Closing Conditions</image:title>
      <image:caption>Essential Question: In Brief:</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/books-and-records</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-12</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/563cb107-895c-47d7-abd1-47e4c1963432/04.png</image:loc>
      <image:title>Deal Terms - Covenants: Books and Records</image:title>
      <image:caption>Essential Question: In Brief:</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/governmental-approvals-and-consents</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-12</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/14c9069d-a2a1-4d7a-8298-564a25696ac9/14.png</image:loc>
      <image:title>Deal Terms - Covenants: Governmental Approvals and Consents</image:title>
      <image:caption>Essential Question: In Brief:</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/equitable-remedies-and-reasonableness-of-restrictive-covenants</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-12</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/83f97ddc-366f-4805-83c3-794e713c49d6/24.png</image:loc>
      <image:title>Deal Terms - Covenants: Equitable Remedies and Reasonableness of Restrictive Covenants</image:title>
      <image:caption>Essential Question: In Brief:</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/non-solicitation-of-employees-and-clients</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-12</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/a5620f00-02a6-41d4-9774-9a853fd68e09/43.png</image:loc>
      <image:title>Deal Terms - Covenants: Non-Solicitation of Employees and Clients</image:title>
      <image:caption>Essential Question: In Brief:</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/non-competition</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-11</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/5511c9d7-c19b-47dc-a0b5-bdf404ec501e/44.png</image:loc>
      <image:title>Deal Terms - Covenants: Non-Competition</image:title>
      <image:caption>Essential Question: In Brief:</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/confidentiality-and-non-disparagement</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-11</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/4b34ce4a-e55c-44ac-987c-a3696ea6892e/54.png</image:loc>
      <image:title>Deal Terms - Covenants: Confidentiality and Non-Disparagement</image:title>
      <image:caption>Essential Question: In Brief:</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/employees-and-employee-benefits</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-11</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/f09d9530-afa7-4cbb-a2a4-a600c3a4b99e/64.png</image:loc>
      <image:title>Deal Terms - Covenants: Employees and Employee Benefits</image:title>
      <image:caption>Essential Question: In Brief:</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/notice-of-certain-events</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-11</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/089ae350-1a10-4b4e-a2a8-ddfe4dfc5fb7/05.png</image:loc>
      <image:title>Deal Terms - Covenants: Notice of Certain Events</image:title>
      <image:caption>Essential Question: In Brief:</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/no-solicitation-of-other-bids</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-11</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/075c774f-7af7-42ac-8e8b-26c3fa906652/15.png</image:loc>
      <image:title>Deal Terms - Covenants: No Solicitation of Other Bids</image:title>
      <image:caption>Essential Question: In Brief:</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/access-to-information</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-11</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/43c13eb4-aa53-47c5-b7e5-97ba5c966318/25.png</image:loc>
      <image:title>Deal Terms - Covenants: Access to Information</image:title>
      <image:caption>Essential Question: In Brief:</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/conduct-of-business</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-11</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/0324f25b-e0fc-4058-91f8-e882bf44ac46/35.png</image:loc>
      <image:title>Deal Terms - Covenants: Conduct of Business Prior to Closing</image:title>
      <image:caption>Essential Question: In Brief:</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/buyer-legal-proceedings</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-11</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/15c34670-02d8-48b4-9a6f-0fab839e0e55/45.png</image:loc>
      <image:title>Deal Terms - Buyer Reps &amp;amp; Warranties: Legal Proceedings</image:title>
      <image:caption>Essential Question: In Brief:</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/buyer-sufficiency-of-funds</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-11</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/eddc71c9-4bc0-4542-971e-53f2aa75c322/55.png</image:loc>
      <image:title>Deal Terms - Buyer Reps &amp;amp; Warranties: Sufficiency of Funds</image:title>
      <image:caption>Essential Question: In Brief:</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/buyer-brokers</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-11</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/dd3f4a0f-b039-463e-92d7-17f95474852d/65.png</image:loc>
      <image:title>Deal Terms - Buyer Reps &amp;amp; Warranties: Brokers</image:title>
      <image:caption>Essential Question: In Brief:</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/buyer-conflicts-consents</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-11</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/dcf0f6fb-64ec-469e-af55-0b4892d51d8d/06.png</image:loc>
      <image:title>Deal Terms - Buyer Reps &amp;amp; Warranties: No Conflicts; Consents</image:title>
      <image:caption>Essential Question: In Brief:</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/authority-of-buyer</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-11</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/87d4f561-6d88-4f42-9790-b614431ee771/16.png</image:loc>
      <image:title>Deal Terms - Buyer Reps &amp;amp; Warranties: Authority of Buyer</image:title>
      <image:caption>Essential Question: In Brief:</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/organization-of-buyer</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-11</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/f1290dfc-f6d2-4fc4-82cd-283e3de4e11e/26.png</image:loc>
      <image:title>Deal Terms - Buyer Reps &amp;amp; Warranties: Organization of Buyer</image:title>
      <image:caption>Essential Question: In Brief:</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/buyer-reps-and-warranties</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-11</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/dfc9ae33-2007-4baf-8add-75fbf4e84530/36.png</image:loc>
      <image:title>Deal Terms - Reps &amp;amp; Warranties of Buyer</image:title>
      <image:caption>Essential Question: In Brief:</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/third-party-consents</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-11</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/add834a2-7653-4667-a325-0c292a1cfcd0/46.png</image:loc>
      <image:title>Deal Terms - Third-Party Consents</image:title>
      <image:caption>Essential Question: In Brief:</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/withholding-tax</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-11</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/9dd10310-5bdb-4454-b7ec-51516d2accab/56.png</image:loc>
      <image:title>Deal Terms - Withholding Tax</image:title>
      <image:caption>Essential Question: In Brief:</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/purchase-price-allocation</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-11</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/d93ac808-da53-4724-bcb8-22b9656f81b3/66.png</image:loc>
      <image:title>Deal Terms - Purchase Price Allocation</image:title>
      <image:caption>Essential Question: In Brief:</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/full-disclosure</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-11</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/4fa84a2a-bfcb-4f2e-ae7f-514c1f6b0d67/07.png</image:loc>
      <image:title>Deal Terms - Reps &amp;amp; Warranties: Full Disclosure</image:title>
      <image:caption>Essential Question: Are you really really sure this is true? In Brief: Everything in these documents is true and complete.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/customers-and-suppliers</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-06</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/4d910254-e512-4039-bb1f-4e61a2c99238/17.png</image:loc>
      <image:title>Deal Terms - Reps &amp;amp; Warranties: Customers &amp;amp; Suppliers</image:title>
      <image:caption>Essential Question: Are there any existing customer or vendor relationships that may be at risk? In Brief: Major customer and supplier relationships. Indications of the health and near-term continuance of those relationships.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/accounts-receivable</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-06</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/bbe7adf3-4a9b-4b2e-b0b3-ca9ec96d36fc/27.png</image:loc>
      <image:title>Deal Terms - Reps &amp;amp; Warranties: Accounts Receivable</image:title>
      <image:caption>Essential Question: Will a Buyer be able to collect any outstanding AR? In Brief: Are your accounts receivable enforceable? How much is 30-, 60-, or 90-days?  Do you have any bad debt reserves?</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/inventory</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-06</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/a9cf05be-a7e3-4049-8565-75261d2e5c0b/37.png</image:loc>
      <image:title>Deal Terms - Reps &amp;amp; Warranties: Inventory</image:title>
      <image:caption>Essential Question: Is the inventory usable, salable, obsolete, not moving, co-signed, at a different location? In Brief: What inventory is there? Where is it located? Is it in good condition? Are there any limitations to its sale?</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/taxes</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-06</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/938da89f-71dd-49ce-8d72-40e6227b98a3/47.png</image:loc>
      <image:title>Deal Terms - Reps &amp;amp; Warranties: Taxes</image:title>
      <image:caption>Essential Question: Have potential tax liabilities been taken care of, and what can we expect moving forward? In Brief: Information regarding tax-related matters of the Business.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/insurance</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-06</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/1ddd3266-43d1-4002-9c91-9d63353c7431/57.png</image:loc>
      <image:title>Deal Terms - Reps &amp;amp; Warranties: Insurance</image:title>
      <image:caption>Essential Question: Is there a reason that the cost of insuring this business may be higher or impossible in the future? In Brief: Insurance policies for the business and their details. History of claims and outcomes. Conditions and terms of policies.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/brokers</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-06</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/297a5cda-9e42-4060-966e-480bbd929317/58.png</image:loc>
      <image:title>Deal Terms - Reps &amp;amp; Warranties: Brokers</image:title>
      <image:caption>Essential Question: Will you be required to pay anyone for putting the deal together after closing? In Brief: Information regarding relationships the Seller has with business brokers and other third-party transaction advisors.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/title-to-purchased-assets</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-06</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/a91cb4e8-726e-462f-accd-6b65a9e4e6f8/08.png</image:loc>
      <image:title>Deal Terms - Reps &amp;amp; Warranties: Title to Purchased Assets</image:title>
      <image:caption>Essential Question: Do you have good and clear title to the assets you’re selling? In Brief: Attestation that the Seller is fully able to sell all assets being sold. Definition and thresholding for Permitted Encumbrances.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/intellectual-property</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-06</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/38955c57-7b89-4326-b838-f6873ca7e69b/18.png</image:loc>
      <image:title>Deal Terms - Reps &amp;amp; Warranties: Intellectual Property</image:title>
      <image:caption>Essential Question: What IP do you own, use, or license, and who has the rights? In Brief: The IP you have developed and own must be in good standing if included in the deal. Plus, a buyer will want a discussion of who else is allowed to use these products. A Buyer will also want to know what other IP is being used and licensed from another party in the normal course of business to ensure that those licenses continue to be available.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/real-property</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-04</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/c870cdf5-d742-4519-ae4f-0c848bda1154/28.png</image:loc>
      <image:title>Deal Terms - Reps &amp;amp; Warranties: Real Property</image:title>
      <image:caption>Essential Question: What property is included in the transaction, and is there any reason the Business couldn’t continue to operate out of the same space post-close? In Brief: Property owned or leased included in the transaction. Information on the condition of the property and compliance with laws.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/employment-matters</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-04</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/e48134fd-56c1-42db-8ac1-115174d7566a/38.png</image:loc>
      <image:title>Deal Terms - Reps &amp;amp; Warranties: Employment Matters</image:title>
      <image:caption>Essential Question: What are the dynamics between your employees and the Business? In Brief: Who are your employees and what is their relationship to the Business? The context of employee/business relations is extremely important to a Buyer knowing what they’re walking into that only a Seller can provide. Are there any outstanding claims or disputes? Have there ever been any? How were they resolved?</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/employee-benefit-plans</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-04</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/c1767847-e230-4862-9733-97130fe2155d/48.png</image:loc>
      <image:title>Deal Terms - Reps &amp;amp; Warranties: Employee Benefit Plans</image:title>
      <image:caption>Essential Question: What benefits-related commitments have you made to your employees? In Brief: Benefits plans (widely defined), equity or equity-like arrangements, and other obligations to your employees. Plus compliance with related laws and regulations. Don’t try to go it alone – the legal implications are complicated and specific.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/environmental-matters</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-04</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/71c9ee50-1738-4ff4-86ed-e74692e8416f/58.png</image:loc>
      <image:title>Deal Terms - Reps &amp;amp; Warranties: Environmental Matters</image:title>
      <image:caption>Essential Question: Do you or have you ever used materials that are subject to environmental regulation, or is there a similar threat posed by neighboring landowners? In Brief: Many “Have you ever?” and “Are you aware?” questions related to your use or knowledge of hazardous materials being used in or around the Business’s properties.  Information on compliance, claims, permits, CERCLA listings, investigations, claims, treatments and findings.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/legal-proceedings</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-04</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/0ab98c83-30c8-4573-9704-ccd1251ba4a6/68.png</image:loc>
      <image:title>Deal Terms - Reps &amp;amp; Warranties: Legal Proceedings; Governmental Orders</image:title>
      <image:caption>Essential Question: Are there, or have there been, any legal proceedings or claims against (or by!) the Business? In Brief: Pending litigation against or by the business. Prior litigation against or by the business. How any previous litigation was handled.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/compliance-with-laws</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-01</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/764730a9-1bdb-49ab-8e1f-d2aad0e6f0b6/09.png</image:loc>
      <image:title>Deal Terms - Reps &amp;amp; Warranties: Compliance with Law; Permits</image:title>
      <image:caption>Essential Question: Is the business operating within the law? In Brief: What laws and permits are applicable to the business and industry? Is the business following those laws, and have they done so in the past? Over what time period is this representation being made, and what does that mean in terms of risk allocation?</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/material-contracts</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-01</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/e16cc819-1173-40a6-9f0e-463257731904/19.png</image:loc>
      <image:title>Deal Terms - Reps &amp;amp; Warranties: Material Contracts</image:title>
      <image:caption>Essential Question: What types of contracts do you have? In Brief: List the types of contracts you have and the individual material contracts. Assert whether those contracts are in good standing. Make sure you’re thoughtful about what really counts as material, or you’ll drive yourself crazy.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/absence-of-changes</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-01</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/0cd73689-b16f-4d75-aea4-7f8b08caf25e/29.png</image:loc>
      <image:title>Deal Terms - Reps &amp;amp; Warranties: Absence of Certain Changes, Events &amp;amp; COnditions</image:title>
      <image:caption>Essential Question: Has anything happened since the last balance sheet that we should know about? In Brief: The things about a business and its operations that can’t materially change after the last balance sheet is provided. A standard for identifying and compensating any losses the Buyer incurs because of these changes.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/financial-statements</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-01</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/65166eff-b741-425f-be12-d8bf00dc7794/39.png</image:loc>
      <image:title>Deal Terms - Reps &amp;amp; Warranties: Financial Statements</image:title>
      <image:caption>Essential Question: Do your financial statements accurately represent the business? In Brief: Arguably the most important representation – it’s why we’re here.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/no-conflicts-consents</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-02-29</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/620fa280-8ad4-40d8-99d3-6c9858744c93/49.png</image:loc>
      <image:title>Deal Terms - Reps &amp;amp; Warranties: No Conflicts; Consents</image:title>
      <image:caption>Essential Question: Who needs to know about this transaction, and who needs to give it the okay? In Brief: If there will be any third-party interest in this transaction (contracts, governmental entities, regulatory bodies), they’ll be listed here. From that list, both Buyer and Seller will work to notify the necessary parties and get consent where necessary. It can be time consuming – get the ball rolling early.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/organization-qualification-authority-of-seller</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-02-29</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/8549a761-d557-4db9-8884-719fdb016a47/59.png</image:loc>
      <image:title>Deal Terms - Reps &amp;amp; Warranties: Organization, Qualification, and Authority of Seller</image:title>
      <image:caption>Essential Question: Is the seller qualified to sell? In Brief: Several clauses around ownership, organization, and equity that ensure that the Seller is able to hold up their end of the deal.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/seller-reps-and-warranties</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-11</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/66230726-0e7e-4ff9-8f01-fa0dabb00510/69.png</image:loc>
      <image:title>Deal Terms - Reps &amp;amp; Warranties of Seller</image:title>
      <image:caption>Essential Question: What can you certify about the state of the business and any potential issues or liabilities? In Brief: The attestations a Seller makes about the business regarding everything from their ownership and ability to sell to financial statements to employment and environmental matters.  They allow buyers and sellers to explore the contours of various issues, as well as the potential impact to allocate risk appropriately. There’s also room for qualifications and exceptions based on what’s known, disclosed, and reasonable.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/closing-deliverables</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-02-29</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/3da2d33b-cdde-44ab-be66-b92041abfd49/010.png</image:loc>
      <image:title>Deal Terms - Closing Deliverables</image:title>
      <image:caption>Essential Question: What needs do you need to bring to closing to get the deal done? In Brief: Both buyer and seller will need to deliver things, some of which can take a while to collect. Be on the lookout for complicated or time-intensive deliverables such as third-party consents or intellectual property transfers and work on them early.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/closing</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-02-29</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/54f6cb82-c535-4352-a365-682325e84657/110.png</image:loc>
      <image:title>Deal Terms - Closing</image:title>
      <image:caption>Essential Question: When is this actually happening? In Brief: How and when the closing happens. Pay attention to the details, like what time the closing is effective (they could be material).</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/purchase-price-adjustment</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-02-26</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/a8920221-600b-461f-bd67-fffba3d2c2f4/210.png</image:loc>
      <image:title>Deal Terms - Purchase Price Adjustment</image:title>
      <image:caption>Essential Question: Is the buyer is getting the business they thought they were for the right amount of money? In Brief: Working capital adjustments square the reality of the business and the price paid with the snapshot of the business gained during diligence.  Understand your working capital and its variances early, get your accountants involved, and know what to expect before you negotiate.  Be as specific as possible in the purchase agreement and the working capital principles and procedures re: what’s included, what’s excluded, and the process for calculating it.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/purchase-price</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-02-26</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/17c8f2fb-9009-449d-ac37-016a4070ddd9/310.png</image:loc>
      <image:title>Deal Terms - Purchase Price</image:title>
      <image:caption>Essential Question: How much will you get paid, when will you get it, and how much do you get to keep? In Brief: Do the math and figure out how everything adds up. Be sure to understand when and why particular structures are being used (earnouts, promissory notes, holdbacks, deductions). Get a full understanding on how those different tools shift risk and align buyer and seller interests.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/assumed-and-excluded-liabilities</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-02-26</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/0c243f38-fd7f-4585-a2e2-45505c2c62ae/410.png</image:loc>
      <image:title>Deal Terms - Assumed and Excluded Liabilities</image:title>
      <image:caption>Essential Question: Who takes on what risks when? In Brief: Applicable liabilities are transaction- and business-specific, but misunderstandings can significantly affect the risk profile.  Buyers generally want to limit the liabilities they’re taking on. Review to ensure the liability allocation from the business deal is reflected here – and get out in front of any elements that affect what you want your post-close situation to look like.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/excluded-assets</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-02-26</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/0046c9b9-20a5-4e14-83c1-1752bcf29062/510.png</image:loc>
      <image:title>Deal Terms - Excluded Assets</image:title>
      <image:caption>Essential Question: What’s not part of the deal? In Brief: It’s not just everything not listed in Purchased Assets. Don’t assume that you’ll still have access to anything after close – specify what you want excluded. Let your attorney know what’s important to you.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/purchased-assets</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-03-08</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/63afabe91502f560414e426d/1708699961130-7Y33RH8Y484KNOAQV6A2/610.png</image:loc>
      <image:title>Deal Terms - Purchased Assets</image:title>
      <image:caption>Essential Question: What is being bought and sold? In Brief: The list of what’s being bought and sold. Could be a laundry list of everything associated with the business or a targeted, specified list of assets. Review to ensure that what’s included is what you mean to sell.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/category/Continued+Diligence+%26+Fact-Finding</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/category/Risk+Allocation</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/category/Explaining+the+Deal</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
  </url>
  <url>
    <loc>https://www.permanentequity.com/deal-terms/category/Covenants</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
  </url>
  <url>
    <loc>https://www.permanentequity.com/featured-content</loc>
    <changefreq>daily</changefreq>
    <priority>0.75</priority>
    <lastmod>2026-02-01</lastmod>
  </url>
  <url>
    <loc>https://www.permanentequity.com/featured-content/the-pricing-lab</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-02-01</lastmod>
  </url>
  <url>
    <loc>https://www.permanentequity.com/featured-content/2025-annual-letter-steady-progress-and-self-reflection</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-01-07</lastmod>
  </url>
  <url>
    <loc>https://www.permanentequity.com/featured-content/health-as-capital</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2025-12-29</lastmod>
  </url>
  <url>
    <loc>https://www.permanentequity.com/featured-content/the-orbit</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2025-11-12</lastmod>
  </url>
  <url>
    <loc>https://www.permanentequity.com/featured-content/success-in-succession</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2025-07-07</lastmod>
  </url>
  <url>
    <loc>https://www.permanentequity.com/featured-content/2024-annual-letter-deep-roots-hard-looks-and-change</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-01-07</lastmod>
  </url>
  <url>
    <loc>https://www.permanentequity.com/featured-content/operators-dictionary</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-09-24</lastmod>
  </url>
  <url>
    <loc>https://www.permanentequity.com/featured-content/better-deals</loc>
    <changefreq>monthly</changefreq>
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      <image:title>Fitness Blog - Sleep, Recovery, and Stress Management: Vital Tools for Staying in the Game - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Our Home - Our Home</image:title>
      <image:caption>A strong family is built upon a strong foundation - both figuratively and literally. For Permanent Equity, our physical home is the 19th Century Elkins House in beautiful downtown Columbia, Missouri.  The Victorian-style home was built in 1882 for Samuel and Isabel Elkins. The house has had ties to investing and business from the start; Mr. Elkins was a venture capitalist and entrepreneur, and later served as the city's postmaster.  Over the course of seven months, the house was renovated to provide Permanent Equity with a permanent home, serving as our daily workplace, a gathering space for events and discussions, and also, with a studio and an apartment attached, a place to stay when guests come to town.  If you are ever in Columbia, we invite you to visit us on Tenth Street.</image:caption>
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      <image:caption>Industry: Amusement Ride Manufacturing Location: Wichita, KS</image:caption>
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      <image:caption>Industry: Apparel Location: San Diego, CA</image:caption>
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      <image:caption>Industry: Luxury Services Location: Chicago, IL</image:caption>
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