The Investment Reporter, in its Sept. 5, 2014, issue, says buy Torstar Corp., recently $7.64. The Reporter said buy five times from Nov. 25, 1998, to March 8, 2013, at prices ranging from $7.98 to $25.25. A $1,000 investment for each of the five buys is now worth $3,059. The publishing company expects to earn 73 cents a share in 2014, down from $1.12 a share last year. Since Torstar has sold its Harlequin romance novels, it will no longer add to its profits. Next year's earnings will likely slip to 70 cents a share. The Reporter worries that competition could hold down Torstar's earnings. The Internet is driving away advertisers, while commuter newspapers are distributed free. The Toronto Star also competes against other big daily newspapers such as The Globe and Mail. On the positive side, Torstar is cheap. The shares trade at a reasonable P/E ratio of below 10.5 times. Even based on year's earnings estimate, the P/E ratio remains reasonable at 10.9 times. The stock also trades 21 per cent below book value of $9.67. Another plus is its dividend of 53 cents a share, working out to a yield of 6.95 per cent. This seems high, but the sale of Harlequin has given Torstar a lot more cash. Buy if you can accept some risk.