by Kristin Todd
Craig Hodges developed an interest in the stock market at an early age.
“When I was a child, my father bought me a few shares of stock in Phoenix Candy Company and Dr Pepper,” he said. “I started tracking these stocks and became interested in the market.”
As his interest grew, so did his plans for the future. After graduating from Baylor in 1986 with a degree in finance and marketing, Hodges, like Bernay Box, began working for Rauscher Pierce Refsnes. He later teamed up with his father, Donald Hodges, to start their own firm, First Dallas Securities, in 1989.
“As a college student, I don’t think I realized it was possible to manage my own firm,” he said. “It wasn’t until I worked for someone else that I realized we could do better for our client on our own.”
Since First Dallas Securities was formed, Hodges and his father continued to expand the family business by establishing outgrowths including Hodges Capital Management, Inc., for which his brother, Clark Hodges, promotes business development. The highly successful Hodges Fund is the newest addition in business acquisitions for the family.
Craig Hodges serves as president of First Dallas Securities with his father taking the role of president of Hodges Capital Management, Inc. Both are co-portfolio managers of the Hodges Fund. The fund invests in companies of multi-cap sizes, which allows for growth opportunities and diversification.
“I do see working with family as an advantage,” Hodges said. “People get a feel for our firm by coming to our office, seeing how we operate, meeting our employees, and seeing our objective and vision is increasing their wealth.”
The diligent work of this father-son duo does not go unnoticed. Along with appearances on CNBC TV, they were also recipients of the 2005 Lipper Award for Performance of the Hodges Fund. The fund performed at the top of the Lipper multi-cap core fund classification for achieving consistent returns over a three-year period, which ended in December 2004.
Hodges forecasts a bright future for the financial services industry and for students wishing to enter it.
“I would advise them to find a mentor, someone who has had success making people money over several years and cycles, and working under that mentor to learn the business,” he said. “The opportunities in financial services will become larger and larger, so get as much financial education as possible.”