The Investment Reporter, in its Nov. 15, 2013, issue, says buy ADF Group Inc., recently $2.61. The Reporter said buy three times from Nov. 21, 2008, to Aug. 19, 2011, at prices ranging from $1.43 to $1.85. Assuming an investment of $1,000 for each of the three buys, the $3,000 position would now be worth $4,682. The newsletter regularly reviews ADF on the back page. The share price has more than doubled since July, 2013, and the Reporter has upgraded it to buy. ADF designs, produces and installs steel structures. It expects to earn 14 cents a share in fiscal 2014 (ending Jan. 31, 2014), and 18 cents a share in fiscal 2015. Based on the fiscal 2015 earnings estimate, the shares trade at a reasonable price-to-earnings ratio of 14.5. They also trade below their book value of $2.86 a share. The price-to-cash-flow ratio is an excessive 30.4, but this ratio should improve as profits roll in. The founding Paschini family owns 45.7 per cent of the shares, so its interests are similar to those of other investors. As a result, shareholders need not worry about having the company taken away from them. ADF has reduced its risk by staying free of debt. The stock is a buy for long-term gains and small dividends.