Mario Gabelli is the billionaire founder of GAMCO and still managing money in his 80s. He believes in an in-depth research process, limiting his investments to the sectors he feels he understands. He believes in visiting companies – not just investees but their competitors and their whole value chain; in reading trade journals; and in monitoring the results of the sector. The day after we spoke he was due to visit a company he first visited in 1967! Few investors active today were investing back in the 1970s and this long history is just one reason why Gabelli is a fascinating interviewee. He likes to recruit PhDs, not from Ivy League schools, but Bronx PHDs - Poor, Hungry and Driven. He is a value investor, rooted in fundamentals and is incredibly driven, part of the reason for his success. See the website for full show notes.