Mario Gabelli's Interview on Wall Street Week

Anthony Scaramucci's rebooted Wall Street Week this time around interviewed GAMCO's Mario Gabelli.

Gabelli says you have to work harder than others if you want to succeed, but having a good education is also a good place to start.

They also talked about how Gabelli essentially pioneered private market intrinsic value investing and Gabelli said that, "if a company's publicly traded, what would it be worth if it went private?"  He looked at the spread between what it's trading for and what it's worth.

He tries to stay in his circle of competence, focuses on competitive dynamics in a given stock's industry, and then looks at the balance sheet to determine the downside first.

One of Gabelli's bets these days is a top down view on water.  He notes that it's being consumed and used increasingly around the globe and so he wants to play the infrastructure support.  They've bought Xylem (XYL), Badger Meter (BMI), and Mueller Water (MWA), Gorman-Rupp (GRC), as well as other companies that make products used to test water.

Lastly, Gabelli wants to earn companies that can have earnings in either an inflationary or deflationary environment.  For a short-term trade (1-2 years) he likes Scripps Broadcasting (SSP).

Embedded below is the video of Gabelli's interview on Wall Street Week:



If you missed it, be sure to check Marc Lasry's Wall Street Week interview as well as Steve Einhorn's interview.

Glenview Capital Boosts Mueller Water Products (MWA) Stake

Larry Robbins' hedge fund Glenview Capital just filed a 13G with the SEC regarding Mueller Water Products (MWA) where they reveal a 6.35% ownership stake in the company with 9,945,383 shares.

This marks a 50% increase in their position size since the end of 2011. The disclosure was required due to trading activity on April 2nd. In other recent portfolio activity we also touched on Glenview's new stake in Tenet Healthcare.

Per Google Finance, Mueller Water Products is "manufacturer and marketer of products and services that are used in the transmission, distribution and measurement of drinking water and in water treatment facilities.

The Company’s product portfolio includes ductile iron pipe, water and gas valves, fire hydrants, water meter products and systems and a range of pipe fittings, couplings, hangers and nipples, which are used by municipalities, as well as the residential and non-residential construction industries, for heating, ventilation and air conditioning (HVAC), fire protection, industrial, energy and oil and gas applications."

Lansdowne Partners Buy Mwana Africa (LON:MWA)

UK hedge fund Lansdowne Partners have purchased 11.51% of Mwana Africa's (LON: MWA) outstanding shares. At first glance, it appears as though Lansdowne bought the majority of this stake via the recent placement. This position was revealed by UK regulatory filing.

This company mines various metals, including gold. Equity stakes in gold miners seems to be a popular investment amongst hedge fund managers as we just detailed Baupost Group's miner stake this morning.

In other activity from Lansdowne, we previously detailed the increase in their Gartmore stake. Paul Ruddock and Stephen Heinz head Lansdowne, one of the largest hedge funds in the world.

Per Google Finance - "Mwana Africa PLC (Mwana Africa) is engaged in the exploration, development and production of nickel, gold, copper and diamonds. It has four segments: gold, nickel, diamond and exploration. Mwana Africa has interests in gold, nickel and other base metals, and diamonds in Zimbabwe, the Democratic Republic of Congo and South Africa. Bindura Nickel Corporation (BNC), Zimbabwe, is situated near the town of Bindura, 90 kilometers northeast of Harare."