Long-term value investing is the cornerstone of our investment philosophy.  For Arnold Investment Counsel, this means concentrating on buying corporate assets that are priced significantly lower than the underlying value or earning's power of those assets. This strategy allows us to capitalize on companies or industry groups that are currently out of favor, or are selling at the low end of their historical valuation levels.

Respect for client capital is paramount at Arnold Investment Counsel.  We are not always fully invested, because we believe the preservation of client capital during declining markets is equally as important as the growth of capital in rising markets.

Client portfolios are structured in an uncomplicated manner, using a combination of fundamental and market analyses.  Investments are made exclusively in highly marketable securities, without employing special techniques, derivative securities or computer models.  Our long-term philosophy is implemented by exercising reasoned judgement and patience when applying our buying criteria and selling discipline.  Consistent, superior performance for more than two decades attests to the vitality and stability of our disciplined, often contrarian value-oriented investment philosophy.

Teamwork

Ultimately, the most significant measure of a firm’s effectiveness is the quality of its staff.  Our clients benefit from the wealth of experience of our investment professionals and their uncompromising commitment to excellence.

The professionals at Arnold Investment Counsel function in a team environment. The investment group judges every opportunity and challenges conventional wisdom from several points of view.  This teamwork approach creates an atmosphere where meaningful strategies are implemented at proper times. It ensures that decisions are made, not by chance, but by calculated design.

Complementing the firm’s management talent is a sophisticated software system.  This strategic resource gives us the ability to analyze and report information quickly, flexibly and accurately.

In an industry where decisive action is vital, our people and our technology give us a solid advantage in helping clients achieve their goals.

Service

The more quality information we have, the more capable we are of making solid investment decisions.

Communication - the exchange of information between client and manager - is an essential component of our process.  We begin by taking the time to understand each client’s liquidity requirements, expectations, goals and tolerance for risk.  From the start of every investment relationship we are available to answer questions, help establish objectives and monitor progress.

The frequency of consultation and reports are tailored to meet the preferences of each client.  A detailed portfolio evaluation and performance analysis statement is provided at least three times each year.

In addition, our clients always know where we stand - during both weak and strong investment climates.  Every month we publish THE PRIMARY TREND, an investment letter updating clients on our prevailing strategy. The letter also gives information on market conditions and includes our current recommended list.  First offered in 1979, THE PRIMARY TREND is followed by investment experts throughout the country and quoted frequently in the nation’s leading investment publications.

Independent 

Arnold Investment Counsel is an independent money management firm. We are not affiliated with any organization or activity which could result in a conflict of interest. We receive no commissions of any kind for servicing and managing accounts, or for initiating transactions on behalf of clients.  Our compensation is strictly on a fee-only basis.

Arnold Investment Counsel is registered as an Investment Adviser with the Securities Exchange Commission under the Investment Advisers Act of 1940, and is licensed by the Commissioner of Securities for the State of Wisconsin.

Profile

LILLI GUST

Ms. Gust is a co-founder, Director, Chief Operating Officer and Chief Compliance Officer of Arnold Investment Counsel. She has also been a principal of the firm since its founding.  Ms. Gust is President of The Primary Trend Fund. She is involved in the portfolio management of private accounts and the mutual fund, as well as running the business of the corporation.
Ms. Gust has 43 years of investment experience.  Prior to co-founding Arnold Investment Counsel in 1978, Ms. Gust was a securities broker with Becker Securities and The Marshall Company for 13 years.

BARRY S. ARNOLD

Mr. Arnold is Chief Investment Officer and Director of Arnold Investment Counsel.  He is involved in the technical and fundamental research of securities used for investment in the firm’s managed portfolios.
Mr. Arnold is also Vice President, Assistant Secretary and Director of The Primary Trend Fund. He is also portfolio manager for The Primary Trend Fund as well as private accounts.
Mr. Arnold received his B.B.A. degree in accounting and finance from the University of Wisconsin-Whitewater.  He has been with the firm since 1987.

Since 1978, Arnold Investment Counsel has delivered personalized Portfolio Management services to a diverse client base:

• 401(k) Plans
• 403(b) Plans
• Profit Sharing Plans
• Taft-Hartley Plans
• IRAs and Rollovers
• Institutions
• Individuals
• Foundations
• Corporations
• Trusts
• Religious Organizations

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The Primary Trend Fund