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XOM, long position. Our fund's investment strategy is passive value investing. We focus on buying the stocks that have a high book-to-market ratio compared to its sector's peers from the S&P 100 list. Thus, following our strategy, this stock offers a good expected return on investment and a maximum weight of 5% ($60k) is allocated. This is in-line with our portfolio’s target leverage of 1.2.
I want to diversify my portfolio by investing in multiple industries. The oil industry is a volatile market and has faced lots of challenges lately. I believe this a good time to buy because the stock is extremely cheap and can produce high returns if it starts to perform better in the near future.