US Top News and Analysis | CEO with over $3 trillion under management tells Gen-Z to think past ‘hobby investing’
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Capital Group CEO Mike Gitlin told Gen‑Z investors at CNBC’s Converge Live conference in Singapore that they should treat investing as a long‑term wealth‑building activity rather than a “hobby.” He urged young people to create a “paper portfolio” of several stocks, conduct due‑diligence research – aided by AI tools – and focus on fundamentals instead of trying to time volatile commodity markets such as gold or oil. Gitlin noted that many Gen‑Z investors are skeptical of traditional financial institutions, with nearly 20 % of non‑investors citing distrust as a reason to stay out of the market, and some embracing “financial nihilism.” He argued that markets have shown resilience despite geopolitical tensions, with global equities rebounding and energy‑importing markets outperforming. While highlighting the importance of looking three to five years ahead to earnings and profitability, Gitlin warned that prolonged high oil prices could raise inflation and curb growth, potentially affecting market performance. He concluded that building confidence in stocks, bonds, and broader macro conditions will help younger investors engage meaningfully in the market over the next 75 years.
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