Mario Gabelli Discusses Banks, Possible Fed Chair and Monetary Policy on Bloomberg

- By Holly LaFon

Mario Gabelli (Trades, Portfolio), chief investment officer at Gabelli Funds, appeared on Bloomberg Thursday to talk about banks big and small. The Graham and Buffett-style investor said he bought shares of a tiny "heirloom" bank called Farmers and Merchants (FMBN), as well as trust banks like Bank of New York (BK). He explains his reasoning and his opinion on the potential next chair of the Federal Reserve in the video below:

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• OTCPK:FMBN 15-Year Financial Data

• The intrinsic value of OTCPK:FMBN

• Peter Lynch Chart of OTCPK:FMBN

This article first appeared on GuruFocus.

• Warning! GuruFocus has detected 2 Warning Sign with GPS. Click here to check it out.

• OTCPK:FMBN 15-Year Financial Data

• The intrinsic value of OTCPK:FMBN

• Peter Lynch Chart of OTCPK:FMBN