Here’s a recent interview with investment manager Mario Gabelli, now 75 years old. The interview covers a range of topics including passive investing (he’s not worried about it), large tech companies, the future of media, and the stock market correction.
“The big issue is our $500 billion trade deficit, the $1 trillion budget deficit, the $20 trillion national debt, an aging population, and not a lot of companies starting up, says Gabelli, who is prone to rattling off relevant statistics on a wide variety of topics.
So are those the issues that worry him? “Everything worries me,” he immediately responds. “If I don’t worry, I don’t get paid.”
But Gabelli likes to put things in perspective. “We’ve studied the last 100 years, so we’ve seen it all,” he says. “The system has survived two world wars, and I think it will survive another 100 years. The problem is my clients don’t think in terms of 100 years.”