10 Things You Didn’t Know About Mario Gabelli

It’s not every day that we get to uncover the stories behind the giants of Wall Street, but today we are lucky. Prepare to dive into the life of famed investor and billionaire, Mario Gabelli, known far and wide for his distinctive value investment strategy and insightful stock picks. While his extraordinary financial acumen and achievements in the world of finance are known to many, there’s more to this Wall Street magnate than meets the eye. Let us explore the fascinating and lesser-known aspects of Mario Gabelli.

1. Early Life

Mario Gabelli was born in an Italian American family in the Bronx, New York in 1942. Unlike other investors, he wasn’t born into a wealthy family. His father was an electrician, and his mother was a homemaker. Gabelli’s humble upbringing shaped his approach towards money and investing, grounding him with strong values of hard work, dedication, and thrift.

He attended Columbia University where he received a BA in Economics, and later pursued his MBA from the same institution. His early love for baseball cards laid the groundwork for his investing career, teaching him essential aspects of valuation, supply, demand, and marketplace competition at a young age.

2. Gabelli Funds

After working for brokerage firm, Loeb Rhoades & Co, Gabelli started his own company – Gabelli Asset Management Company Investors (GAMCO Investors) in 1977. Today, GAMCO’s assets run well into the billions, serving individual and institutional investors worldwide.

Under Gabelli’s sharp leadership, GAMCO has consistently outperformed the market and achieved exceptional results. Gabelli’s long-standing philosophy of value investing and his emphasis on scrutinizing a company’s intrinsic value, rather than market trends, have been crucial to his company’s sustained success.

3. Highest Paid CEO

Mario Gabelli has earned quite an enviable reputation for his massive compensation. He was ranked the highest-paid CEO in America in 2013, taking home a staggering $85 million. His salary, significantly higher than many of his Wall Street peers, raised a few eyebrows.

Despite this, many argue that Gabelli’s performance justifies his enormous compensation. Under his stewardship, GAMCO Investors has continuously exceeded investor expectations. However, Gabelli’s salary continues to be a topic of debate in corporate governance circles.

4. Student of Graham and Dodd

Mario Gabelli is often recognized as a leading torchbearer of the Graham-Dodd school of value investment. These teachings were formulated by Benjamin Graham and David L. Dodd, considered the fathers of value investing.

Gabelli’s revolutionary “Private Market Value” methodology of equity analysis has its roots in Graham and Dodd’s investment philosophy. This methodology, which focuses on determining the value a private buyer would pay for a company’s assets, distinguishes Gabelli from other investors.

5. Philanthropist

Despite his corporate image, Gabelli isn’t just about financials and investments. His philanthropy has impacted various sectors of society. In 2016, he donated $15 million to Columbia University’s Gabelli Center for Global Security Analysis.

Over the years, Gabelli has also contributed to numerous causes, including children’s welfare, education, and healthcare. His philanthropy reflects his passion for giving back to society and helping create opportunities for the less fortunate.

6. Loves Ferrari

Gabelli has an undeniable love for Ferraris. Not only does he own several, but he also holds a substantial amount of shares in Ferrari N.V., an Italian luxury sports car manufacturer. His love for the brand is rooted in the unique combination of speed, style, and prestige that Ferrari represents.

Gabelli often draws parallels between investing and car racing, linking the thrill, strategy, and risk-taking involved. This love for fast cars has often found its way into his investment theories and strategies.

7. A Baseball Fan

Mario Gabelli’s love for baseball extends beyond just being a fan of the sport. At one point, he was a large shareholder in Madison Square Garden, which owns the New York Knicks and Rangers.

His love for the sport started when he was a child collecting baseball cards, refining his eye for value. To this day, Gabelli’s passion for sports remains, symbolizing his enduring excitement for competition and strategy.

8. Television Personality

Gabelli is no stranger to the media spotlight and often appears on major financial news networks, including Bloomberg and CNBC. He uses these platforms to discuss his investment views and offer advice to investors.

His calm demeanor and ability to break down complex investment concepts into digestible snippets have made him a favorite amongst viewers. He effectively utilizes the media to demystify investing, earning him respect in the investment community.

9. Regarded as a Superinvestor

Gabelli has been recognized as a ‘Superinvestor’ by Warren Buffett, a title given to those investors who have consistently outperformed market averages over an extended period. His name was included in a list of ‘Superinvestors’ in Buffett’s 1984 letter to shareholders, a significant endorsement in the investment world.

This recognition is a tribute to Gabelli’s consistent outperformances and success, leading him to be considered one of the greatest value investors of his generation.

10. His Products Are Not Only For Accredited Investors

Contrary to what many might think, Gabelli’s investment products aren’t exclusive to accredited or institutional investors. His firm, GAMCO, offers numerous retail mutual funds which are accessible to individual investors with a relatively small initial investment.

This is part of Gabelli’s belief in making investment opportunities accessible to as many people as possible, amplifying his commitment towards promoting equity and opportunity in the investment world.

Mario Gabelli’s life story and professional achievements offer intriguing insights into the mind of one of Wall Street’s most renowned figures. His humble beginnings, acumen for business, and unwavering adherence to value investing principles make him an inspiration for budding investors. If you want to learn more about him, check out the following resources.

Gabelli Funds Official Website
Mario Gabelli’s Bloomberg Profile
Mario Gabelli on Barron’s