The bargains are out there if you know where to look, Gabelli Funds CEO Mario Gabelli says in a CNBC interview today.
“I like it because the consumer’s net worth and the passion of everyone here is in their home,” he said. “The wealth of the consumer in America hit an all-time high yesterday.
“Housing is still about $4 trillion in terms of net worth below, but housing starts haven’t started.”
“If you spent time going out looking at stocks where nobody’s covering them, you’re going to find bargains. You turn over stones, and that’s what we do every day,” he said. “And I think the small-cap stocks are also a great place for companies to buy.”