The full interview with billionaire investor Ron Baron on his approach for 2017, favorite stocks

Billionaire investor Ron Baron, founder and CEO of Baron Capital, spoke with CNBC at length about his investment approach and favorite holdings.

On the best way to generate returns, Baron says market participants need to stop trying to predict short-term moves and focus on the "big picture."

"The big picture is that the economy basically doubles every 11 or 12 years and the stock market doubles every 11 or 12 years with the economy," he said.

Baron also shares his views on electric carmaker Tesla and apparel manufacturer Under Armour, two of his favorite holdings.

The full version of the interview, which originally appeared on "Squawk Box," is only available to PRO members.