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Despite its quaint wording, this advice still rings true today to a new generation of investors. Reading through the yellowing volume of the first-edition Investment Counsel, Profit and Peace of Mind, I was struck with an inspiration, an idea to present these timeless words and advice to a new generation of investors, who have lived through the introduction of the internet and have learned to appreciate, and expect, investment information, advice, and results in real-time, at any time, at a touch of a finger, literally. Many of these words were written more than 50 years ago – before the political whipsaws of this current decade, before smartphones and the internet, before 9/11, before the fall of the Berlin Wall, and even before the energy crisis of the 70s, and the social unrest in the 60s. However, his words have stood the test of time. Investment Counsel, our firm, has stood the test of time too. As we approach the 90th anniversary of our founding, we pause to reflect on his words and advice. To stay true to the timelessness of his advice, we have retained his words here as truthfully as possible, while adding our own advice and guidance, to keep this book relevant to today’s investor. As generations of our clients can attest, our stability, knowledge, resourcefulness, and tenacity have prevailed through the challenges we have faced through the years. Our long-term, conservative approach has stood the test of time. Investment Counsel believes that trust is key to forming client relationships that last for generations. It is only appropriate that this book, providing investment counsel to our current and prospective clients, presents advice that has survived through those generations. Through diligent research and vigilant management, we focus on long-term value.

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