Mr. Loudon began his investment career at Scudder Stevens & Clark in New York in 1971. He was named a General Partner in 1982 and became a Managing Director when the firm incorporated in 1985. In 1986, he became actively involved in the development of an investment program for the American Association of Retired Persons (AARP) and was named Investment Director upon its formation. This program consisted of a group of mutual funds concentrating on producing competitive investment returns with below average investment risk, the same approach that is employed by Loudon Investment today. At the time of Mr. Loudon’s departure from Scudder in 1996, he had served as Director of Equity Investment, was a member of the firm’s Board of Directors and Chairman of its Audit Committee, as well as Chairman of Scudder Japan, Inc. and President of The Japan Fund. He also served as President of the Investment Counsel Association of America (ICAA).

In early 1997 Mr. Loudon became associated with PEG Capital Management as a consultant, developing and researching investment ideas, managing portfolios and providing overall investment and management assistance to the company. He became a shareholder and Director of the firm in June of 1997 and was named President in 2000.

Early in 2003, Mr. Loudon left PEG Capital to form Loudon Investment Management to more fully implement the approach he had developed over many years. Mr. Loudon holds a B.A. in Economics from the University of North Carolina and an M.B.A. in Financial Management from Pace University. He is a Chartered Financial Analyst.