Mario Gabelli, chairman and chief executive officer of Gamco Investors Inc., talks about the performance of U.S. stocks and his picks in an interview with Betty Liu on Bloomberg Television's "In the Loop" (source: Bloomberg).
He said the stock market had a sharp rally since October's lows and profit taking was expected. He thinks uncertainty related to QE3 and Bush tax cuts expiring in 2013 are playing into the market sentiment.
He also said he is addicted to Apple (AAPL) products but he thinks he has another alternative for allocating capital rather than Apple.
He likes Dr. Pepper (DPS) for being a cash flow machine and for its good pricing power. Other stocks he said he liked were Gaylord Entertainment (GET) and O'Reilly (ORLY). He said he will stay away from banks due to uncertainty in the regulatory environment.
Here is the video:
Also check out:
- Mario Gabelli Undervalued Stocks
- Mario Gabelli Top Growth Companies
- Mario Gabelli High Yield stocks, and
- Stocks that Mario Gabelli keeps buying