One of my favorite companies, Fushi International, Inc. (NASDAQ/FSIN), continues to do great in this market. The stock just hit a new record high of over $24.00 per share, and is still only trading for approximately 20 times current earnings.

I really like this small company. I like companies that are innovators. In this case, Fushi manufactures what it calls "bimetallic composite wire" products. The company's core product is copper-clad aluminum wire, which combines the conductivity and corrosion resistance of copper with the light weight of aluminum.

According to Fushi, its copper-clad aluminum wires are a cost- effective substitute for single copper wire, and can be used in a variety of applications, such as coaxial cable for cable television (CATV), signal transmission lines for telecommunication networks, distribution lines for electricity, electrical transformers, and wire components for electronic instruments and devices.

Fushi is an innovator because it recognizes that some raw material costs are becoming very expensive and did something about it. So, this company came up with a product that meets all the conductivity requirements of traditional copper wire mixed with other metals to keep costs down.

This stock has doubled in the last three months, and only now are Street analysts beginning to write about the story. Investment firm Piper Jaffray recently initiated research coverage on Fushi with a "buy" rating. I think Fushi's stock price will continue to appreciate, but once again, Wall Street is a little late to the party.

Fushi's Chairman and CEO, Li Fu, recently rang the opening bell for the NASDAQ Stock Market, and the company recently reported record financial results in its latest quarter. Are you seeing a pattern here? Clearly, Fushi is a great small-cap success story that's worthy of study.

I first wrote about this company in this column back in August. If you don't already know about this story, take the time to look it up. Fushi had, and still has, all the attributes of a successful investment prospect. Take note of this company's corporate developments over the last year. It will help you recognize a great investment prospect the next time a similar story comes across your desk.