GAMCO Investors' Chairman and Chief Executive Officer Mario Gabelli spoke with FOX Business Network’s (FBN) Liz Claman about the electric car market and whether he pays attention to it. Gabelli said, “We try to look out over the next 10 years…. But at the same time you’ve got to think about what’s going to happen tomorrow. You want to be aware of the sugar high that we’ve had since Bernanke gave us QE2 and how does that wear off and who and what and how do we maintain that.” Gabelli also spoke about Tesla and CEO Elon Musk, saying,”There’s a big hullabaloo that the model that Elon Musk has is to sell direct to the consumer,” but that, “Boy that flies in the face of a very established dealership system and I am not so sure he should be selling direct.”
Watch the latest video atvideo.foxbusiness.com Excerpts from the interview are below.
On whether he pays attention to the electric car craze:
“We try to look out over the next 10 years, what sectors will work. For example the rising middle class in India and China and what does that mean for companies like Boeing and what does it mean for global consumption and the economy. We also try to think out in the United States, health and wellness, how do we eat better? Organic, natural foods. But at the same time you’ve got to think about what’s going to happen tomorrow. You want to be aware of the sugar high that we’ve had since Bernanke gave us QE2 and how does that wear off and who and what and how do we maintain that.”
On Tesla (TSLA, Financial):
“There’s a big hullabaloo that the model that [Tesla CEO] Elon Musk has is to sell direct to the consumer, that’s what he’d like it to be, but boy that flies in the face of a very established dealership system and I am not so sure he should be selling direct.”
On what market factors he looks at as soon as he wakes up in the morning:
“At 4:30 a.m. I would get on whatever instrument I have and basically look at the euro, where is it, the 10 year bond, gold oil and then look at some of the indices but then I look at who is making any announcements and deals.”
Watch the latest video atvideo.foxbusiness.com Excerpts from the interview are below.
On whether he pays attention to the electric car craze:
“We try to look out over the next 10 years, what sectors will work. For example the rising middle class in India and China and what does that mean for companies like Boeing and what does it mean for global consumption and the economy. We also try to think out in the United States, health and wellness, how do we eat better? Organic, natural foods. But at the same time you’ve got to think about what’s going to happen tomorrow. You want to be aware of the sugar high that we’ve had since Bernanke gave us QE2 and how does that wear off and who and what and how do we maintain that.”
On Tesla (TSLA, Financial):
“There’s a big hullabaloo that the model that [Tesla CEO] Elon Musk has is to sell direct to the consumer, that’s what he’d like it to be, but boy that flies in the face of a very established dealership system and I am not so sure he should be selling direct.”
On what market factors he looks at as soon as he wakes up in the morning:
“At 4:30 a.m. I would get on whatever instrument I have and basically look at the euro, where is it, the 10 year bond, gold oil and then look at some of the indices but then I look at who is making any announcements and deals.”
