Barbara Marcin of Mario Gabelli's GAMCO funds was on CNBC to discuss her outlook for the markets in 2013 and share her top picks for the new year. Barbara Marcin manages the Dividend Growth fund at GAMCO. She has also been head of value investments at Citibank Global Asset Management.
-- Overall stock markets are not overvalued; they are moderately valued.
-- Companies with a good cash component to their earnings, that are paying dividends, have good management and are trading at lower valuations will do well.
-- Her top holdings: JPM, IP, PFE, BLK, DEO
-- Her top picks: International Paper Co. (IP). It is really growing cash, expanding internationally, has gotten rid of non-core assets and is reallocating capital in a much better way.
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