Billionaire investor Gabelli is avoiding cash, says SPACs have ‘silver lining’

Value investor Mario Gabelli, founder and CEO of Gamco Investors, said Monday that he’s expecting a robust year for the U.S. economy between the Covid-19 vaccine rollout and a deluge of government stimulus.

Gabelli also shared his views on special purpose acquisition companies, or SPACs, after Berkshire Hathaway executives Warren Buffett and Charlie Munger panned the take-public firms over the weekend.

With inflation expected to rise, and companies set to embark on deferred capital projects, the billionaire made it clear he won’t be sitting on the sidelines.

“I’m not going to keep money in cash,” said Gabelli.

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