Why? It’s his 5th largest holding. I understand that he wants to diversify into the energy sector but why would he choose to invest in Chevron, as opposed to XOM?
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For the dividend
Because he buys companies when they are cheap, not when they are expensive. So Chevron was relatively cheap compared to Exxon a few years back when he was buying CVX.
Because he already owns OXY with his shark loan financing for the Anadarko deal, Chevron serves as a risk hedge for that position.