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IXC invests in a concentrated portfolio of energy stocks.
While energy stocks are not particularly favorable from a political or general sentiment standpoint, implied returns are strong.
It will be decades before we can "replace" (in any significant way) non-renewables. In the meantime, energy stocks will generate strong earnings.
IXC feels like somewhat of a conventional value investment. But with minimal valuation risks at present, implied returns are good and therefore investors should probably be bullish on IXC.