Gabelli was asked to comment on the current controversy surrounding Apple (AAPL). He thinks Apple has to do something with the ridiculous cash hoard sitting on its books, and he likes the Einhorn proposal.
He was also asked to comment on the high drama being created by the likes of Ackman, Einhorn and Icahn and whether it was appropriate to take their message to the financial media. Gabelli thinks that it makes for an efficient market when participants get out and express their views.
Gabelli was a beneficiary of the recent purchase of Heinz (HNZ) by Berkshire Hathaway (BRK.A)(BRK.B). He thinks Buffett has structured in effect a leveraged buyout that through the financial engineering involved creates a better return for Berkshire shareholders.