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Full interview with billionaire Mario Gabelli on a possible pullback, Trump, stock picks

Billionaire Mario Gabelli shared his views on the market, infrastructure and his top stock picks in an interview Friday on CNBC's "Power Lunch."

On the market: "The market itself to me has no margin of safety, but it's ok," Gabelli said. In May 2010, "the market had a real crash, and that was a tiny sample of what can occur in the future because of the untested ETFs, the untested flash trading, the untested absence of a buffer known as specialists both upstairs and downstairs," he said.

On infrastructure: "Infrastructure is important because it helps fiscal stimulation. It offsets monetary policy. It helps the jobs in the middle of the country. It helps everyone," Gabelli added.

Gabelli is the CEO, founder and chairman of Gamco Investors.

He also discusses:

To watch the broadcast interview in its entirety, you must be a CNBC PRO subscriber.