After crashing 35% and 76% these FTSE rated stocks yielded 12% and 10%. Be careful!

I like to buy value stocks after a crash, especially if they offer a very high yield as a result. These two FTSE 250 stocks score on both scales but there is also something to it.

Years, a luxury merchant The Burberry Group (LSE: BRBY) traded at a valuation of 24 or 25 times earnings. But it looks cheap today with a P/E ratio of just 7.99 times. However, that does not make it a good value.

A quick search suggests that it offers a huge 10.33% trailing yield, but that too is misleading. The board canceled the shareholder payout on July 15, after issuing another profit warning and sacking chief executive Jonathan Akeroyd. There is no profit going forward.

Can the share price sustain?

Burberry is my biggest flop in years. I'm down 44% in the stock, and that's despite buying after its first profit warning. Now I won't get benefits either.

Some get worse. Over 12 months, Burberry's share price has fallen by 76%. Chairman Gerry Murphy says it will lose first half performance, but things may pick up in the second half of the year. Brave investors can reap the rewards if they do very well.

Sales are down everywhere it operates, including Europe, the Middle East, India, Africa, Asia-Pacific and the Americas.

Burberry may recover as interest rates fall and consumers feel richer, but its problems run deeper. I was out and about over the weekend, and its famous check came up just once: on a baseball cap worn by a freckled teenager who was no one's idea of ​​aspiration.

Recovery will take years unless the buyer is shocked and takes it cheap. I don't buy. The only question is whether I should cut my losses and sell.

I Close the Brotherhood (LSE: CGB) share price has performed almost as badly as Burberry, down 65.61% over three years and 33.52% over the last.

Unlike Burberry, it is back in fashion, jumping 49.17% in six months. Commercial hunters who got lucky during their time did well. Can the recovery continue?

Is the harvest authentic?

Close Brothers still looks like a bargain at 9.77 times earnings, while the trailing yield of 12.82% is confusing. Sadly, it is also misleading.

The Financial Conduct Authority is launching an investigation into the financial sector where it suspects mis-selling. I knew that Lloyds Banking Groupowning his shares, I am at risk of what has been called 'the next PPI decoration'. Close Brothers will be hit hard if FCA wants a fix.

Car finance makes up a fifth of its £9.5bn loan book. It could face compensation claims of up to £200m. The club's total market capitalization is under £800m.

The board has set aside money just in case, and that means axing dividends this financial year. There is a high probability that the panic will pass. Given the recent share price gains, many investors clearly think so. Its banking division recently posted an adjusted operating profit of £112m in the first quarter, so this is not an imminent threat.

Investors who take the plunge and buy Close Brothers today may be sitting on the fence if FCA's bark is worse than its bite. Well, that's a binary bet not for me.