Marathon, for the Long Run
I reviewed the performance of my portfolio this weekend to plan what changes I want to make to my allocations in 2013. One thing that immediately stood out is how many winners I have in the refinery sector. Valero (VLO), Tesoro (TSO), Marathon Petroleum (MPC) and Phillips 66 (PSX) are some of my biggest winners this year, as the refining sector is one of the best-performing areas so far in 2012.
The refiners have benefited greatly from the huge oil production expansion in the middle of the country, which has allowed them to buy their core input for a discount to world prices. I expect this to continue in 2013. That said, I have lightened my allocation to this sector quite a bit over the last two months, as it seemed prudent to take profits given the huge run-ups in these stocks in 2012....285 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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