Capital Group CEO has a blunt message for young investors [Yahoo! Finance]
JP Morgan Chase & Co. (JPM)
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Source: Yahoo! Finance
But the head of one of the world's largest investment firms, Capital Group CEO Mike Gitlin, thinks a lot of them are doing it wrong. And he's not being polite about it. His warning cuts to something most financial advice glosses over: the difference between being interested in markets and actually building wealth from them. Those two things are not the same, and confusing them early can be costly over a lifetime of investing. What Capital Group's Gitlin said about long-term wealth-building Speaking at CNBC's Converge Live conference in Singapore on April 22, Capital Group CEO Mike Gitlin said younger investors should approach markets with a long-term wealth-building mindset rather than what he called "hobby investing," according to CNBC Gitlin leads Capital Group, the world's largest active investment manager with $3.3 trillion in assets under management. His comments were framed as a direct response to a growing trend of young investors gravitating toward commodities and sho
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