NEW YORK (TheStreet) -- On Friday, the CNBC "Fast Money Halftime" show was shot from the Cobo Center in Detroit, which is hosting the 2015 ENGAGE International Investment Education Symposium

The trading panel had some advice for the young investors, along with some thoughts on the broader market. 

Young investors shouldn't fear a pullback. In fact, they should hope for one sooner rather than later, said Josh Brown, CEO and co-founder of Ritholtz Wealth Management. Young investors have a lot of time on their side, so a pullback now gives them a chance to buy more stocks at a lower price, boosting their value in the decades down the road. 

In the past year, the S&P 500 has gone through several pullbacks ranging between 4% to almost 10%, which have presented great buying opportunities, Brown added. Each time a new sector or industry leads the stock market higher it's a healthy sign for a continued bull market

This could be the year where investors see a deeper pullback, argued David Kudla, CEO of Mainstay Capital. There's a lot of unknowns lurking around the corner, such as the strength of the U.S. dollar, the impending rate hike from the Federal Reserve and a bull market that many are considering somewhat long-in-the-tooth. 

Many of today's young investors haven't seen a bear market or even a pullback deeper than 10%, Kudla added. So while it's great to see the ambition and skill that many of them have, they need to keep their risks in check for when the eventual drop does come. 

While some investors have been complacent, most have kept a more realistic expectation when it comes to the market and its future returns, said Stephen Weiss, founder and managing partner of Short Hills Capital Partners. The problem comes when investors believe everything is perfect and the market can't go down.

Perhaps it's because of the Great Recession that many young investors are more cautious, but hedging has become an important part of investing, added Pete Najarian, co-founder of optionmonster.com and trademonster.com. Today's investors should expect increased volatility and also adjust their portfolios in the short-term to account for the continued rally in the U.S. dollar, he added. 

Bill Miller, chairman and CIO of LMM and portfolio manager of the Legg Mason Opportunity Fund (LMNOX - Get Report), was a guest on the show. He reasoned that young investors need to focus on three things: Using time to their advantage, finding out what works best for them in the market and always continuing to adapt and learn. 

The bull market still has legs, as the economy continues to improve and growth is still present. However, he did acknowledge that the momentum seems to have shifted to European, Japanese and Chinese stocks. 

He remains bullish on InterXion Holding (INXN - Get Report), which is one of his largest positions. The synthetic biology companies can create food for world hunger, as well as cures for diseases. It has great management and the $4 billion market cap stock will benefit immensely over the next 10 years if its products work out and the biotech sector continues higher. 

He is also long Gilead Sciences (GILD - Get Report), which has a very low valuation, buys back stock and pays a dividend. He also likes ZioPharm Oncology (ZIOP), which has a much lower market cap than Kite Pharma (KITE) and Juno Therapeutics (JUNO), but has superior technology. 

Miller is also bullish on the homebuilders, saying that several high quality stocks like PulteGroup (PHM - Get Report), Lennar (LEN - Get Report) and KB Home (KBH - Get Report), have the potential to grow earnings at 15% to 20% per year for the next three years and have a below-market earnings multiple. Superior growth at a lower-than-average valuation is hard to come by, he reasoned.

He's also bullish on Pandora (P), Zulily (ZU), Apple (AAPL - Get Report), Alibaba (BABA - Get Report), and Amazon (AMZN - Get Report), the last of which has an immensely profitable business, just not on a GAAP-basis due to its current growth strategy.