A High-Yielder Returns to Bargain Levels

The market certainly has had a fast start to the new year: The indices are up some 3% in the first seven trading days of 2013. This latest rally started late last year, and value is beginning to be a bit harder to find that it was a couple of weeks ago.

Given this, I would like to take another opportunity to profile one of my favorite yield and value plays, Calumet Specialty Product Partners (CLMT). I first talked about the shares in June when they were selling near $22. I again recommended the stock in November, after the post-election selloff, when it was trading at $29. Now, after a 5% pullback triggered by a small secondary offering to reduce debt from a recent refinery purchase, the shares again offer a good entry point at just under $32....287 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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