CEO with over $3 trillion under management tells Gen-Z to think past ‘hobby investing’

mike gitlin, ceo of capital group, told a room in singapore that gen-z should ditch "hobby investing" and think long-term. his firm manages $3.3 trillion in assets. the advice came after a father said his teens objected to rotating from gold to oil, calling it "profiting from war." gitlin said neither commodity is where a 13-year-old should think about investing for the next 75 years. he urged building a "paper portfolio" of stocks and using ai for research instead. the comments come as a wef survey shows nearly 20% of gen-z non-investors cite distrust of financial institutions as a reason to stay out of markets. gitlin noted market resilience despite war, with the msci world index now 2% above its pre-conflict level. he warned the key risk is how long oil stays elevated, as that could mean higher inflation and lower growth.