Founded Hodges Capital with his father in 1989 in Dallas, Texas. The firm now manages $3 billion.
The turbulence in the market could be mitigated by investing in small-cap stocks, according to money manager Craig Hodges.
Social platforms haven't figured out a revenue stream that is as good for digital media as TV provides for traditional media, Lerer says.
The music business is better off now than in the heydays of the 1980s and '90s, says the former Warner Music chairman.
OPEC's initial six-month deal to cut oil production failed to achieve its goal of shrinking huge global stockpiles.