Billionaire investor Mario Gabelli is avoiding cash, says SPACs have 'silver lining'

Mario Gabelli, Gabelli Asset Management Company Investors
Scott Mlyn | CNBC

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

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

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

"I'm not going to keep money in cash," the billionaire said on CNBC's "Squawk Box."

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