Mario Gabelli, chairman and chief executive officer of Gamco Investors Inc., talks about the performance of U.S. stocks and his picks. Gabelli speaks with Betty Liu on Bloomberg Television’s “In the Loop.”
Some quotes:
On current market conditions:
“You have these challenges all the time in the markets,”
“The market is allocating capital, sometimes it allocates it poorly.”
“We’ll live with it, we’ll figure it out, we’ll try to make money out of it some at point in time.”
On social media companies:
“The capitalistic system as an allocator of capital has a lot of inefficiencies,” he said. “Social media is clearly the new frontier, everyone says this time it’s different, you’ve got to own the Zyngas of the world and so on. And we are examining these.”
On Tyco spin-off:
“These spinoffs create values, they create opportunities, and we’re focusing right now on Tyco.”
