>> this looks to be the beginning of the most second most hateable market and stocks can go higher. it doesn't matter what the headwinds look like. it's a matter of where the money is coming from. >> these mixed results tell me

that the feds mission is not quite over yet. >> our call that we made we were going to hit new lows this summer, we were being forced to pivot out of that. if we get follow through, if we're starting to see broadening here, we will be buying dips in july. >> people recognize that this is a political trial. this is about the attempt to prevent donald trump from becoming president. >> i'm not going to listen to hillary clinton about who i should and should not support, because she has lied to the american people repeatedly. yes, america. she did that. ♪ i'm free to do what i want and have a good time ♪ stuart: why do we play so much pitbull? >> he's fantastic. stuart: i don't know what i'm talking about. it is 11:00 i know that for sure eastern time, that is. it's wednesday, july 14. here we go look at the markets. the dow is down 127 points

largely because of one stock, united health. very modest gains and the nasdaq and the s&p, that may change when we get the results from the fed this afternoon. show me big tech please. where are we going here? we're going up mostly, meta, microsoft, apple up, alphabet, amazon down ever so slightly. the 10 year treasury yield where is that? it's at 3.78%, it is down ever so slightly today. again, that could change with the fed decision this afternoon. now this. its been seven years since hillary clinton lost to donald trump. you'd think she be over it, or had learned a few lessons, but no. just one month after john durham exposed hillary's role in the russia hoax, she's back. not only did she help make up the hoax. she told biden and obama about it. they all knew. they were all in on the most successful political dirty trick in history. now, she's laughing and joking, as she unloads on trump and

calls republicans a cult or cult members. doesn't that remind you of her deplorable speech? watch this. >> you know, to just be grossly generalistic, you can put half of trump supporters into what i call the basket of deplorables. >> [laughter] >> [applause] >> right? stuart: [laughter] way to go hillary. that may have been her worst mistake in the 2,016 campaign. insulting half the country, brilliant. yesterday, as trump was being arraigned in court, hillary called the gop a cult. i think that's a repetition of the deplorables insult. i suspect there were many democrats who wish the clintons, both of them, would go away, but they won't. hillary can't get over 2016 and bill can't really get over monica lewinsky. i'd put money on the republicans res remembering hillary in their campaign ads. third hour of "varney" starts

now. i need help, but i found it. martha maccallum is with us this morning. >> hi there. stuart: why is hillary clinton doing this? did the democrats want her speaking out like this? >> she can't help it. >> [laughter] stuart: that is true. >> she really, i mean, she can't help it. her "glee" was just in repress ible. she loved that t-shirt they pulled out that they gave her calling her an impartial juror. it really is, you know, you just have to ask yourself about the lack of self-reflection in this moment, right? how is it, and i just think there's a certain amount of just brainwashing, right? everything trump is bad and evil everything he does is wrong and everything that she and her, you know, followers do, is superior, is correct, is saving everybody from horrible horrible donald

trump, and, you know, i watched the former president last night at his place at bedminster, and he comes out and he's like oh, what a great birthday, thanks a lot. he's funny and engaging everyone and there's an interesting editorial in the "wall street journal" today from the attorney who lost the clintons socks case , right? so clinton had all these tapes that he considered part of his presidential records. he brought them home. he kept them and at that point, you know, more conservative thinkers were like no. he's got to turn those over, right? they lost that case, because he chose to bring those tapes back. now, i also think that there was a moment here for president biden to take a higher path, to say no, we're not going to do this , as a nation. we're not going to charge my opponent, my likely opponent, and the former president, in this case, but we really, we're going to force a negotiation, you know? we're going to go down there,

send the agents down, make sure they come when he is home, and say look, the gig is up. we need to know what you've got and have it out, but this is incredibly damaging to the country. stuart: i'd agree with that. we've got a clip from former president trump on his appearance last night in new jersey. roll that tape, please. >> it's a political persecution like something straight out of a fascist or communist nation. this day will go down in infamy and joe biden will forever be remembered as not only the most corrupt president of the history of our country but perhaps even more importantly, the president who together with a band of his closest thugs, misfits and marxi st tried to destroy american democracy. stuart: that is strong stuff, martha. do you think that biden is really trying to systematically destroy our economy, our democracy? >> i think that it falls into the same category as hillary clinton. i think there is this very deep

seated trump derangement syndrome that, you know, by any means possible. that you have to get rid of trump by any means possible so it doesn't matter if we don't sort of uphold the norms that we generally operate under when it comes to presidents in this country. nothing matters except and i think that this might backfire on them, because i do think that this , you know, we don't see any change in the poll numbers and i also think there's a boy who cried wolf syndrome going on here. there have been so many attacks and they all seem to land in the same place. is the behavior what you'd want to see from a president? in many cases no it's not, right on the other hand, it's not necessarily a crime, and i think you're going to find that in this case, likely as well, so i think they may be moving trump up on the pedestal in the eyes of many people who watch this and supporters of his rather than the opposite and it's a really tough game for the people running against him on the republican side in

terms of how to position themselves. stuart: it's just fascinating stuff. >> it is. stuart: we're in the middle of it. it's wonderful stuff. we'll be watching you at 3:00. the story, martha maccallum, 3:00 on fox news this afternoon. >> thanks stuart good to be with you. stuart: back to the markets look whose with me for the hour. mr. tepper himself. dow is down 120, nasdaq is up nearly 40, s&p up 10. mr. tepper? this afternoon, if the fed decides to pause on its interest rate hike, and lots of people think they will pause, does the rally go up some more, continue? >> look, it depends on whether or not there's another hike. when we look at -- stuart: i'm saying if they come out today saying we're pausing. >> if they come out today saying we're done, the last hike would have been may 3, may 4 and what typically happens historically is that over the course of the next six months from the last hike on, the market grinds higher about 5 %. we're already up 7-8% since the

beginning of may, so i could make the argument all the gains are in and the market trades sideways for the next six months stuart: okay, but what happens if we get a pause for now, rates stay there, and then maybe in the summer, the fed comes back and raises rates? if they do that doesn't that kill everything? >> i'm sure the market could start to sell-off in anticipation of that without a doubt but what's going to kill the rally is the first rate cut, and over the course of the last several months the markets have been hoping for a rate cut, right? but you have to be careful what you wish for , because from the time of the first rate cut until the bottom of the market, you're looking at on average about a 25% drawdown that starts with the first rate cut. stuart: oh, okay. >> which is weird. you would expect that when a rate cut happens the market, you know, starts to think easy money the market goes up, but the market starts to price in a lot of fear. stuart: so what you're hoping for is a pause, and no word on

what happens in the summer? >> get on that cut way down the road. next year, middle of next year, end of next year. stuart: you stay there please, sir. now, lauren is back with us. i want to know about nvidia. look at it go today again. lauren: we started the day with slightly lower, down 1% now up 2.25%, another 2.25%. it's up 180% this year. it's a trillion dollar valuation it's the fifth-most valuable american company behind apple, microsoft, alphabet and amazon and quite frankly we're just starting to talk about nvidia, right? they control 80-plus percent of the a.i. chip market, so, chatgpt uses a lot of their chip s, elon musk reportedly wants to use their chips and his ex-a.i., the a.i. company he's forming, so this thing just keeps on going. stuart: they have 80% of the a.i. chip market? lauren: i have read between 80- 95%. now you have amd coming in and intel but nvidia is the one to beat. stuart: okay, applebee's they

have a parent company called dine brands down sharply. lauren: wedbush cuts them to neutral. they say their channel checks show sales are softening at both applebee's and ihop. your middle class or lower income consumer cutting back because prices are very high. stuart: cinemark, it's down, yes it's down 5%. lauren: you have the hollywood writer strike with the disney story earlier they are pushing back a lot of the big expected to be blockbuster movies so there's less to see and b riley is worried about that downgrad ing them to neutral and specifically the movie slate for next year in 2025 looks increasingly uncertain. stuart: oh, okay. thank you, lauren. now this. taylor swift's eras tour could generate billions, that's billions with a b for the economy. fans are spending, get this , over $1,000 on average at the shows. can you imagine that? a thousand bucks on average. we'll breakdown the numbers for

you. presidential candidate nikki haley said a vote for biden is a vote for president harris and turns out democrats are fine with that. new polls shows a warming support for harris if biden couldn't serve. we've got it for you. new york state lawmakers passed a bill to consider reparations. supporters want to make amends for slavery and heal what they call generational trauma. the bill now heads to the governor's desk so far she's staying silent. that's next. ♪

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stuart: a judge has opened the door for a federal takeover of new york city jails. the judge doesn't like the way at the are being run now? lauren: no. there was an investigation and it showed a pattern of disturb ing incidents of violence , injuries, even deaths. 19 deaths last year, and often officials aren't reporting these instances, so new york city mayor eric adams came in and vowed to fix it and the cities jails but the problems appear to have gotten a lot worse and now a judge is considering appointing a federal receiver who could make changes uni- latter unilaterally if the receivership is approved so you could see the firing of staff, the ending of contracts, and the changing of the rules and this is a rebuke to mayor adams. stuart: this city is in a mess and by the way the city just lost its police commissioner. lauren: yes. stuart: she resigned. lauren: there was talk of putting some of the illegal immigrants at rikers island. stuart: what a mess. new york governor kathy hochul

is likely to sign the clean slate bill. that would seal most misdemeanor convictions for three years after their release from jail. most felonies including violent crimes will be sealed eight years after the release of the criminal. ray tierny is the suffolk county district attorney and joining me now. why are you fiercely against this? what's the problem? >> well i think it's just more of the same from our legislature that worries more about the rights of convicted criminal s than they do about the safety of their citizens, and basically, when you have a wholesale expungement of records which it doesn't matter how many felonies. there's no limit to this so you could continually commit felonies and get convicted and then get the record expunged. stuart: i'm sorry to interrupt you, sir, but why on earth are they doing this with crime in such a sorry state in new york

city? >> well, you know, we have gang and gun violence. we have fentanyl and opioid overdose crisis, not only in suffolk county but across the state and the country, but this is what they focus on. what they really should be focusing on -- stuart: there's got to be a reason for this. what is the reason? >> i just think that their priorities are not in order. they pay lip service to public safety, but they don't enact statutes and laws that are going to further the cause of public safety. stuart: got it. now a separate bill sent to governor hochul would create a committee on slave reparations. that would make new york the second state to have one after california. what do you make of reparations? >> well, i mean, you know that's sort of outside of a district attorney but again, you know, we need to address our opioid overdose crisis, and money and any money and resources that the state may

have should go into not only prosecuting those cases but also for helping victims and providing services for addicts. stuart: sir, you're in suffolk county, and new york city, i believe, is suing your county over its migrant policies. let's get right to the heart of this. do you not want to house migrants, any migrants in suffolk county? >> well, you know, i'm the suffolk county district attorney so i'm concerned with public safety and i can tell you that our social services are stretched to the absolute limit, so now, you know, the migrant crisis represents a failure on the part of the federal government and the federal government has done nothing and we see the result of it and now, we have all of these migrants and there's no money, there's no resources to provide them and yet we still get nothing but silence from the federal government. stuart: do you ever think we'll see the day when new york state on a state-wide vote elects a

republican? >> you know, really republican/ democrat what i'm hoping for is that the new york state votes for someone and elects someone who cares fundamentally cares about public safety and wants to do something to further the cause of public safety. stuart: can i just go back to your county, suffolk county, housing migrants. how many are housed in suffolk county right now? >> well, you know, there are, there is the official count and then there's the unofficial count, so statistics i think are not all that reliable, but you just have to ride around suffolk county and you see the fact that our social services are stretched to the very limit. our emergency housing is filled to the absolute brim, and yet, we still have this , we still have this mandate that they are going to be more migrants with no, so they are just bringing

these individuals into the county with no resources or money to provide for them. stuart: what a mess. ray tierny, suffolk county da. thank you for joining us. the homeland security committee is holding a hearing. mayorkas, the secretary of homeland security is in the hot seat. this has got to be about the border obviously. lauren: yeah, well and the title of the hearing is "open borders" to its case and how republicans are laying the groundwork, if you will, that secretary mayorkas who is not testifying should be impeached because of dereliction of duty at the border. hillary vaughn was able to catch up with secretary mayorkas orcas watch. >> secretary mayorkas, are you proud of the job that you have done at the border? republicans say you're handling of the border has been a dereliction of duty. do you agree with that? lauren: yeah. um, so house republicans are accusing the secretary of playing a deceptive shell game to mask the release of hundreds

of thousands of aliens into our country, and now, we're footing the bill for them. stuart: yes, we are. lauren: and you know, we don't know much about them. stuart: no we don't. what a situation. what a mess. all right thanks lauren. check that big board, please. we were down well-over 100 points, that's because united health which is a dow stock was sharply lower but we've come back a bit for the dow only down 70 points and still above 34,000 show me a list of the dow winner s please. nike right at the top, 4.5% up on nike. intel, verizon, microsoft up nearly four bucks, proctor and gamble up a buck 59. s&p 500 winners whose at the top of that list i'll tell you now it's the lumen technologies, stryker edwards life sciences, services got it. nasdaq composite, the winners there? topped by old dominion freight line. not seen them on that list before. net ease, match group, nvidia right there. now it's up 11 bucks 2.7%.

4.21 on nvidia. i was just talking to mark here. i wanted to buy nvidia at 3.80 a couple weeks ago and i didn't do it. >> that's a big mistake. that's a stock that right now can do nothing wrong with all of the a.i. euphoria. we'll see how long that goes. stuart: the yield on the 10 year treasury down a bit 3.78. the price of gold still below the 2,000 mark, 1,971. bitcoin hovering around 26,000, and the price of oil 70 bucks a barrel give or take a few cents nat gas still doing absolutely nothing 236 per million british thermal units and the average price for a gallon of regular hardly changed 3.59 but look at california not quite at $5 yet but they might get there 4.88 here we go. forget farm-to-table dining. how about screen-to-table? netflix is opening its first- ever restaurant featuring food from their most popular

cooking shows. we'll tell you all about it. the white house seems to shame a reporter who asked a question about transgender athletes competing in girl's sports. roll tape. >> what you're eluding to is basically saying that transgender kids are dangerous. that is a dangerous thing to say stuart: will cain is a parent and really fired up about this one. will is next. ♪ good luck. td ameritrade, this is anna. hi anna, this position is all over the place, help!

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did you buy tickets for your teenagers? >> so we bought tickets for them for a show that was supposed to happen during the pandemic. that show was obviously canceled we then got a 150% credit from ticketmaster, if we didn't get our money back, to use for her next show. problem is, her next show sold out to bots who in a matter of a few minutes so no. unfortunately, my daughters are not able to go. if anyone has ticket in pittsburgh for sale, find me on twitter. stuart: but you put money into the tickets? >> we did now we're just sitting there with a credit rotting away. stuart: all you got is the credit? >> yup that's all we have. the money is no good. stuart: will you tell us some of your stock picks because that's what you're here for and i know you're into top golf. what do you make about it? >> look, top golf, i think it's relevant right now given the li v and pga merger but when you look at callaway, they acquired top golf and it helps them to diversify their revenue

streams and now they have services and goods, services and equipment and apparel, so certainly helps from that standpoint. if you actually do a sum of the parts valuation, this thing should be trading in, above 30 bucks it's only trading at $19 right now. huge opportunity and if you look at the total addressable market of a company like this , when they were just callaway selling golf clubs and polos and stuff like that, they were only catering to golfers. now with top golf they are catering to everybody. i don't know if you've ever been to a top golf but if you look at all of the bays there, most of the people there look like they have never swung a club in their entire life. stuart: that is true. >> now they have got everybody to work with. stuart: okay. take a look at the healthcare sector. i know you like one stock in particular that is united, wait a minute, united health group. you don't like that, do you? >> no, no, but what's happening today is united health came out with some information that they were seeing elevated elective

procedures which are very expensive for these healthcare insurers so united health, cvs, humana. those are all down big today, but the big winners happen to be the medical device and medical equipment companies that are involved in those elective procedures so stryker be number one if looking for a hip transplant at this point in time or hip replacement, not a transplant. medtronic, and we've been adding to these positions over the course of the last few weeks in anticipation of elective procedures coming back online. stuart: doing well aren't you? >> it's okay. we have our losers too. it's not all winners. stuart: i'm going to completely change the topic. listen to this. i want you to listen to white house press secretary karine jean-pierre's response. >> the president says to parent s out there, with daughter

s, we're worried that their daughter may have to compete against a male, a person born male, and there could be a competition to worry about their daughter's safety. >> so look. what you're eluding to is basically saying that transgender kids are dangerous and that is dangerous. that is a dangerous thing to say stuart: a dangerous thing to say well look whose here now to comment on this , will cain, whose a parent himself. will, is it dangerous to raise questions about transgender athletes in women sports? will: most certainly not, and do not be afraid despite that a little bit of verbal trickery. i talked about this on the will cain podcast. karine jean-pierre has mastered the beautiful combination of condescending and stupidity and it's all in the performance. it's like the best way to distribution it be an analogy like a shadow boxer or a marshall artist whose only ever done form, never actually traded

punches, so what she did there is she played word games. it's a tool. words are toys through which she's going to intimidate that reporter. she hears the word safe, she turns it into dangerous and she tries to put him on his heels in the same way you do when you call someone a racist by saying it sounds like you're saying trans kids are racist. stuart: yes. will: she never actually engaged in substance. the mma fighter walks into the ring and says let me explain to you something. i'm not afraid of you trying to suggest i'm somehow being bigoted. here is the truth, karine jean-pierre. it is dangerous for boys to play sports with girls. almost any sport that involves physical contact, of course combat sports, but soccer or any other sport that requires physical contact, it is absolutely dangerous for girls to be playing with boys, regardless if you call them trans girls don't be afraid by the word games. don't be afraid by the trickery. they always paint you as some bigot while they absolutely tell lies and play shadow boxing with the truth. stuart: tell us how you really

feel, will. that was straight out and up front. good stuff indeed. i've got one more for you. hold on. you're not out of the woods yet. a new poll shows 86% of democrat s would support a president kamala harris if biden was unable to serve. okay, that seems like a very high proportion of support for someone who is not got the confidence of the country. how come she's got that level of support from just from democrats will: well, to the extent, kind of almost feel like you're eluding to it but to the extent we can trust that poll, which seems absurdly high. the answer to that, i think, be that while painting themselves as stealth-styled rebels most of the democratic party at this point is very much fall in line, fall in line with consensus, group think, whatever the capitalized science tells you to do. behave and fall in line. you know, fall in line behind kamala harris. it even comes from their party politics.

of course they boxed out hillary clinton's come pain and the dnc boxed out bernie sanders. it wasn't ever, they are doing the same thing today to rfk jr.. it is in the end a fall in the line, follow group think, non-rebellious ideology that if it resigns you to kamala harris, okay. 86% said go she's next. we're cool. stuart: nikki haley, another presidential candidate, she said a vote for biden is a vote for president harris. i think she's revealed the truth there because i think that's exactly what it is. do you agree with that? will: absolutely i do. i can not see joe biden making it through a second term perhaps not even to the end of an election. stuart: all right what i see is senior democrats at some point coming to the realization that you're going to lose with the biden-harris ticket and doing something about it. i don't know what you do about it but they have to do something will: the governor of california has ideas to help you answer your questions. he has ideas on the answer to

that con end rum. stuart: see if you can get him on a podcast. will: might just be gavin newsom. stuart: i think you're right actually. hey, will. great stuff. thank you very much for joining us and we will be tuning into your podcast. thank you very much. a new bill in california would ban retail staff from stopping shoplifters. supporters say it's meant to keep workers safe but critics argue it's just in siting people to steal. we're on it. tonight the annual congressional baseball game, lawmakers from both parties come together to celebrate america's pastime. chad pergram at nationals park. we will join him for the baseball game, which starts later of course, after this. swing batter batter swing, swing batter batter swing ♪

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stuart: how much money do you need to be considered wealthy? lauren: i don't know. stuart: lauren has the number. lauren: i don't like the question. enough money to not worry about money. what's that number? stuart: give me a number. lauren: it's $2.2 million, according to charles schwab. look, i think the number varies based on who you hang out with, because you try to live the same lifestyle as your peers so it varies. i would have said off the top of my head a million dollars. i feel like most people used to say a million dollars but that number has gone up a lot. stuart: such a thing as inflation. so it's 2.2 million at schwab and their survey. lauren: yes. stuart: mark tepper is still here. how much do your clients feel they need to feel wealthy? >> first things first. the number was 2.6 million pre- pandemic in the same exact survey. lauren: oh. >> its gone down 400,000. lauren: no. >> in the face of this inflation so obviously people are changing the definition of wealthy. at 2.2 million any good financial planner today would

tell you that you could probably pull 3% of that out per-year, given today's inflation rates and then adjust it up for inflation and you'll never run out of money. that comes out to $66,000 a year of income, and the median household income today is like 71,000, so i would call that comfortable. i wouldn't call that wealthy. i think most of our clients today think 5 million is the magic number that they would like to hit. that would give them $150,000 a year of income and retirement and they consider that to be a win. stuart: i'm still astonished by the idea of feeling of wealth has come down. >> it has but the one interesting part of the survey is the closer the finish line is to you, the closer you get to retirement the more you feel like you don't have enough. stuart: funny you should say that. okay. this is for you, lauren. netflix opening a pop-up restaurant in l.a. why is a streamer opening a restaurant? lauren: because fans of its food shows. it has iron chef, all of the food competitions, can order what they see on tv. it's monetization. stuart: yeah.

lauren: of the shows, right? it's an experience. people love experiences. so this , it's a a pop-up restaurant taking reservations now opening june 30, you need $ 25 to make a reservation. stuart: and that stock has gone straight up recently. lauren: yes. stuart: it's over 400 bucks a share it was about 330 not too long ago. okay, move on. now this. democrats and republicans will have to set their differences aside at the congressional baseball game tonight. chad pergram is at nationals park. all right, chad. can the partnership with the partisanship, can it be dropped for charity? reporter: they won't be arguing about politics. they will be arguing about balls and strikes and we had a spot of range a second ago. the tarp was on the field behind me and they have just taken it off and they started this game in 1908 john tenner was a congressman from pennsylvania and founded the game and later the president of the national league and they start these practices back in february. they practice about 5:45 or 6:00 in the morning and it

takes a lot of commitment. morgan mcgarvy from kentucky a freshman congressman but in this part, a rookie. >> you should join us a great way to get to know people next thing i find out it's on fox sports in front of 20,000 people in the washington nationals stadium and making me catch for the first time in my life. reporter: now, this is the sixth anniversary of one of the most tragic events in congressional history. it was the congressional baseball practice where republican steve scalise and others were shot at a practice six years ago today. matt mica, used to be an aid on capitol hill, he's one of the republican coaches. he was shot. he was in bad shape in the icu and nearly died but he's back and now coaching. >> i shouldn't be here, the mana boris johnson has a better plan. june 14, 2017 a lot of us don't remember but for all americans everyone took care of us including the capital city police, alexandria police. just great to be playing

baseball again. reporter: now, steve scalise was also shot. he can't run, so what happens is they put a designated runner next to him in batters box at the crack of the bat the runner takes off so steve scalise will lead off tonight for the gop. >> each year i can do a few more things, and it's what it's all about. want to keep getting better. i push myself, and this motivates me. being ready for this game helps motivate me to get better and recover from the injuries and still have some recurring things but look, i'm lucky to be alive. reporter: this game will raise $1.8 million for children's charities and the washington d.c. area. the game will air at 7:00 eastern time on fox sports 1. i will be doing color commentary john walton from the washington capitals and the former cincinnati reds public address announcer will be doing play-by- play. back to you. stuart: if you need help from a guy with an english accent call

me up. simple as that. chad? reporter: how about cricket? stuart: any day you like. chad you're all right thanks for joining us, sir. more than 20 companies have pulled out of san francisco. the cities choked by crime and homelessness, but one property development firm thinks san francisco could actually be a huge real estate investment opportunity. how about that? that's next. ♪ there are some things that go better... together. like your workplace benefits... and retirement savings. with voya, considering all your financial choices together... can help you be better prepared for unexpected events. voya. well planned. well invested. well protected. new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get

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stuart: well, well, well. the california senate just passed a bill which would prevent retail staff from stopping thieves. kelly o'grady with me. all right, kelly what are the retailers saying about this? reporter: well, stuart they are saying it's anti-business and it's essentially inviting thieves to come in and steal. now, it's already an issue because prosecution for retail theft is low in california. there's a law that says anything that's stolen under $950 is a misdemeanor and businesses are seeing consistent retail theft.

something we're seeing across the nation, $100 billion lost because of retail theft in 2022 has retailers shutting down or leaving cities like san francisco but today i really want to focus on the small business so let's pop into this shop. it's brooklyn projects. it's sneakers, skateboard shop. i want to introduce you to the owner dom deluca. what do you say to the folks that passed this law that if someone comes in, steals you can't defend your shop? >> it's crazy. how would they like if i went into their house and took something of there's and walked out? it's, you know, this is our stuff. we paid for it. you're just justifying stealing. it's ridiculous. reporter: well thanks so much for that perspective and so you hear it from someone here and you're seeing it, stuart, as westfield, nordstrom, they are leaving places like san francisco and can't be surprised when you hear something like that. i'll send it back to you. stuart: got that right. kelly thank you very much indeed yesterday, i expressed the very

strong opinion that san francisco was going through an economic and cultural collapse downtown it looks like a wasteland to me; however, my next guest thinks there's a huge opportunity for real estate investments in that city. he's back. glutton for punishment, the ceo of post brothers michael pestron k, and hes with me. you are convinced san francisco can recover but over a long term investment. >> thank you for having me back i think that, well look, there were a series of terrible stories in the last week about san francisco about the biggest hotel shutting down, the biggest mall shutting down. if you look at the "wall street journal" story about the hotels, the most relevant things in that story are the beginning of the end. the beginning, they discuss how new york, l.a. and other major cities hotel markets are doing great and at the end the head of the hotel workers union says effectively, the next buyer is going to make a killing here and that's what we think.

we think this is a temporary issue, which -- stuart: well how long do you think it's going to take san francisco to recover? how long do you think it's going to take before people come back to the office to work in downtown san francisco? you've got to be talking years here, surely. >> sure, a few years but that's also the real estate development , so just to give you're out view by some analogy. in the early 90s, in 2000 and 2008 there were maybe seemingly intelligent people off manhattan real estate even three years ago and every time those viewpoints are kind of easy to see why they were wrong. san francisco is the capitol of the tech world. berkeley and stanford aren't going anywhere. it's still one of two metros in the u.s. where the most ambitious and intelligent young people go. stuart: how much money is post brothers prepared to put into san francisco in the next six months? >> well, we generally have

approximately $1 billion of development a year. stuart: oh, a billion? >> well, we're looking for opportunities in san francisco. for all this noise, do you know how many non-performing office buildings traded in san francisco in the last year? zero. do you know how many vacant office buildings are available today to buy? ready for conversion? zero. so -- stuart: you really are bottom fishing aren't you? nothing wrong with that. but look i'm out of time, but do come back soon. >> thank you. stuart: i want to know how you're doing with this because that's radical stuff. you ever heard of detroit by the way? >> [laughter] stuart: thank you, michael now time for the wednesday trivia question. good one. what was beaver cleaver's real first name on leave it to beaver thomas, theodore, timothy, tony? we all know the answer. lauren: i don't. stuart: so do you. we'll be back after this. lauren: i don't. stuart: you don't know? lauren: i think i know. i'm not positive.

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stuart: we did ask, what was beaver cleaver's real first name on leave it to beaver? was it thomas, theodore, timothy , tony? we're going to let michael pestronk play on the ground he's very young so what's his real name? >> i'm 42. i look good. >> [laughter] stuart: love it. >> i think timothy. stuart: lauren? lauren: i think it's timothy as well and i'm ashamed i don't know for sure. >> i know for a fact it's theodore. stuart: i know for a fact too.

guaranteed theodore. >> yes. >> [applause] >> all right stuart: 42. you do look pretty good for 42. >> i'm 42. lauren: as am i. [laughter] >> three 42-year-olds right here. stuart: i didn't ask. >> answer to all of the questions in the universe. stuart: [laughter] 42. i want to thank mr. tepper for being with us for the hour good stuff, michael, a fine performance, you're not careful you'll be back. lauren you're always here. good stuff. now, times almost up for me. we have to end this at 11:59:58 so i've got five seconds left here we go. "coast to coast" starts, wait for it wait for it wait for it wait for it, starts now! neil: all right thank you, stuart pushing the pause in two hours most investors are betting the federal reserve stops raising interest rates, but just at this meeting. what about next months meeting? former td ameritrade chairman joe mogley is here to layout what's coming up and the