Mario Gabelli Sees Good Value In CBS

On CNBC's "Closing Bel," Mario Gabelli spoke about buying opportunities in the current market environment.

He expects the market to decline 10% or 15%, which is a normal correction. Gabelli sees the correction as an opportunity to own stocks at a cheaper price. He likes companies that are cash generators and he sees CBS Corporation (NYSE: CBS) as a good stock to buy. He thinks investors have a very good opportunity in CBS over the next five years.

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Gabelli also mentioned Netflix Inc (NASDAQ: NFLX). He sees a room for significant customers growth for Netflix. He is also interested in commercial and military aviation and he also sees potential in the used car market.

CBS closed Wednesday at $44.65 per share.