Billionaire Mario Gabelli shared his views on the market, infrastructure and his top stock
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,
He also discusses:
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