Mario Gabelli, Stock-Picker, Indexing Skeptic

Barry Ritholtz is a Bloomberg View columnist. He founded Ritholtz Wealth Management and was chief executive and director of equity research at FusionIQ, a quantitative research firm. He blogs at the Big Picture and is the author of “Bailout Nation: How Greed and Easy Money Corrupted Wall Street and Shook the World Economy.”
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This week in our Masters in Business interview we speak with Mario Gabelli, founder and chief executive officer of the $45 billion Gabelli Asset Management.

Gabelli has a reputation as one of the world’s most astute stock pickers, earning the nickname “Super Mario.” He learns industries from the top down and gets into the details of companies from the bottom up. He looks at stocks as if he were buying the entire company, considering factors such as growth rates, business advantages, valuation and margin of safety. Over the course of 39 years, his investments have averaged a 16.9 percent compounded annual return. Given that he is a stock picker, Gabelli isn't a fan of Vanguard founder John Bogle, calling indexing “mindless investing.”

You can hear the show on Bloomberg Radio at 10am and 6pm. The full podcast is available on iTunesSoundCloud and on Bloomberg.  Earlier podcasts can be found on iTunes and at BloombergView.com.

Next week, we speak with Jeff Maggioncalda, co-founder and former CEO of Financial Engines.

This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.

To contact the author of this story:
Barry L Ritholtz at britholtz3@bloomberg.net

To contact the editor responsible for this story:
James Greiff at jgreiff@bloomberg.net