Schiff has long been a fan of the yellow metal.
In fact, Barrick was the firm’s top holding, representing 6.8 per cent of its portfolio. Agnico and Newmont were the third and sixth-largest holdings, respectively.Article content Case in point: The second-largest holding at Euro Pacific is cigarette giant British American Tobacco , accounting for 5.3 per cent of the portfolio.
The demand for cigarettes is highly inelastic, meaning large price changes only induce small changes in demand — and that demand is largely immune to economic shocks.
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