I am very interested in PSX - Phillips 66
Look at the return on capital employed in the Chemical division!http://www.phillips66.com/EN/about/our-businesses/chemicals/PublishingImages/c1.jpg[/b]
"As value investors, "our style is really bottoms up. So we're looking at individual companies and try to find a cheap one, find something that's misperceived," said Witmer, who joined the board of Warren Buffett's Berkshire this spring.
"I think one area is refining, and in particular Phillips 66, which is a position of ours," she said.
Besides refining, Phillips 66 also has a chemical business that's a "great niche, very high return on capital," and a "midstream business that moves oil and gas around," she said.
Witmer said she bought shares of Phillips 66 when it was spun out of Conoco Phillips in the spring of 2012. "We've [also] bought some since, even at around these current prices.""