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I'm starting a Space Wolves army, but a fortnight after getting the Codex, I'm still going in circles over which Great Company to collect.

I don't want to collect any of the well known Great Companies, which therefore rules out Harald Deathwolf, Logan Grimnar and Ragnar Blackmane, and I don't want to collect an army that will be too restrictive of what I collect (the ones where it tells you what that Wolf Lord favours).

At the moment I'm going with either Egil Ironwolf (mechanised) or Erik Morkai (lots of Wolf Scouts, I think, which is kind of weird considering I don't like Wolf Scouts that much)

Is it done to create one's own Great Company?

It's not only done but encouraged in the codex IIRC.
Not only that but a particular force (Say 1000 points) can reflect a portion of your entire great company rather than the entire thing.
So your 1000 point list may be full of rhino mounted troops with some bike mounted troops. You could say this particular force is a flanking force for the great company.

Yeah, you can certainly create you own. It's a shame the Codex lists all current Wolf Lords IMHO, but you can just say one kicked the bucket and your own is his successor.

 Just Dave wrote:
Yeah, you can certainly create you own. It's a shame the Codex lists all current Wolf Lords IMHO, but you can just say one kicked the bucket and your own is his successor.

Or a previous one.

Agreed. Ragnar's predecessor for example.

I use Kyrl Grimblood as my Wolf Lord (He's portrayed as a Logan Grimnar counts as)
He was the guy that broke the siege of Fenris during the Reign of Cardinal Bucharis.
The list itself portrays his Oath Brothers. A terminator armoured force that shattered the IG besieging the Fang.

 Just Dave wrote:
Agreed. Ragnar's predecessor for example.

Yeah, you could easily use Berek Thunderfist as your Wolf Lord instead of Ragnar, there is plenty of fluff behind him IMHO to use.

I may create my own then. Once again, the Internet proves its' worth!!

I just thought that the Wolf Lords were at the current point in the fluff. But then that was the fluff for 5th Ed, so they may have changed.

I need to come up with a new symbol...