The Globe and Mail reports in its Saturday edition that Ryan Bushell at Toronto's Newhaven Asset Management is keen on Agnico Eagle Mines. The Globe's Brenda Bouw writes that Agnico Eagle is a Toronto-based miner with operations in Canada, Mexico, Finland and Australia. "It's a stock we've been adding to after trimming it earlier last year," Mr. Bushell told The Globe. "The stock has dropped from its high [close to $350 a share] in February. We've been buying it below $230. I'm not a big gold investor, but I like having some exposure to the sector as a defensive position to guard against currency devaluation. I prefer to own a gold company versus a bullion ETF backed by derivative contracts to maintain exposure to physical gold without paying for storage. We like Agnico because most of its operations are in safer, less politically risky jurisdictions such as Canada. It has a decent yield for a gold company and its dividend has increased over time. It's the only gold position we own at this time. Mr. Bushell's investment strategy is to hold defensive stocks he believes can withstand various economic cycles. His focus is on dividend-paying Canadian companies in sectors. Newhaven oversees more than $500-million in assets.