Of the nine equity and mutual fund newsletters named to Hulbert's Investment Newsletter Honor Roll, the IAS had the largest annualized gain, averaging a return of 11.4% annually since 1998. To be considered, investment newsletters must show above-average performance, on a risk-adjusted basis, in both up and down markets over the past decade. Since Hulbert began tracking the Investor Advisory Service  in 1998, this is only the third year that the Service has been eligible for inclusion, and we have been named to the Honor Roll in each of those three years.

Of the investing newsletters named to the 2012 Investment Newsletter Honor Roll, the IAS is ranked second in both "Grade in Up Markets" and "Grade in Down Markets."

According to the Hulbert Financial Digest, an investor following all of the Investor Advisory Service's stock picks could have earned an annual 11.4% total return during the period from Aug. 31, 1998, through November 30, 2011, outperforming the Wilshire 5000 Total Stock Market Index return of 4.6% during the same timeframe.

When it comes to providing greater returns than the market during both bull and bear cycles, no other newsletter can match the IAS record, making it the #1 newsletter for consistent long-term performance in the U.S.

More information on the 2012 Investment Newsletter Honor Roll is available here.