>> pelley: this is paul tudor jones in the 1980s-- age 32-- in a documentary about wall street. >> telle behind it. do it, do it, do it. there's more behind it! >> tudor jones: my mother told me i was going to be a preacher. i always wanted to be a millionaire or a movie director. >> pelley: so you chose millionaire? >> tudor jones: i don't know if i chose millionaire. i ultimately got to that point, yes. >> pelley: that point and far beyond. but his mother had seen something of a preacher and, months after that documentary, tudor jones caught a glimpse of it, too. it was 1986, one sunday night. >> reasoner: "millionaire with heart of gold offers hope to ghetto kids." >> pelley: harry reasoner met gene lang, a millionaire who guaranteed college tuition for every kid in one harlem class. >> reasoner: are they good kids? do you like them? >> lang: oh, i love them. i look at them now, all of them, as an extension of my family. >> tudor jones: well, the second that program finished, i picked up the phone. i called gene lang, and i said, "i want to do what you're doing." >> pelley: you know,

. >>> and what billionaire hedge fund manager paul tudor jones said about women and trading during a recent speech. it's putting him in hot water. we'll talk about that and give you the details on "fast money" ahead. i have low testosterone. there, i said it. see, i knew testosterone could affect sex drive, but not energy or even my mood. that's when i talked with my doctor. he gave me some blood tests... showed it was low t. that's it. it was a number. [ male announcer ] today, men with low t have androgel 1.62% testosterone gel. yum. the #1 prescribed topical testosterone replacement therapy increases testosterone when used daily. women and children should avoid contact with application sites. discontinue androgel and call your doctor if you see unexpected signs of early puberty in a child, or signs in a woman, which may include changes in body hair or a large increase in acne, possibly due to accidental exposure. men with breast cancer or who have or might have prostate cancer, and women who are or may become pregnant or are breast-feeding, should not use androgel. serious side ef

there is no doubt paul tudor jones is among the most savvy of investors but what he said about certain working moms on wall street has elicited a backlash. we get our report now from nbc's andrea mitchell. >> reporter: it's the sound bite reverberating from college campuses to wall street. paul tudor jones, a self-made hedge fund billionaire and philanthropist said women aren't equipped for the elite crowd of macro traders if they are mothers because, in his words, a child is a focus killer, citing two women he worked with in the '70s. >> they both had children. as soon as that baby's lips touched that girl's bosom, forget it. [ laughter ] every single investment idea. every desire to understand, every desire to understand what's going to make this go up or down is going to be overwhelmed by the most beautiful experience which a man will never share. >> reporter: it was the talk of cable news from "morning joe" to cnbc. >> except this happens to be about having babies for women. >> give me a break. fathers love their children, worry about their children, think about their children just

it doesn't affect their work. >> reporter: here's a stat for paul tudor jones.count found that women hedge fund managers performed three times better in the industry as a whole last year. david. >> lindsey, thank you. >>> when we come back in the broadcast flying high over one american city. do you recognize those inter states off in the background there? why the riders are being told don't look down. around 2% to manage your money. that's not much you think. except it's 2% every year. does that make a difference? search "cost of financial advisors" ouch. over time it really adds up. then go to e-trade and find out how much our advice costs. spoiler alert: it's low. really? yes, really. e-trade offers investment advice and guidance from dedicated, professional financial consultants. it's guidance on your terms, not ours. that's how our system works. e-trade. less for us. more for you. that's how our system works. if you think a prune is a prune, you havthe amazing prune.t, enjoy plum amazins, diced prunes. i'd put these on a salad. these would be perfect for coo

i think paul tudor jones might be impressed with you. >> it is remarkable. >> my serious question is,about these models to actually do something at a policy level within a company or a government policy. you point to deutsch bank where they're looking at up to five years for incentivizing bonuses, saying that a short term outlook which you're saying the research is correlated with that trading is bad long term regardless of gender. because you don't know if you're doing good things for the bank or for the portfolio unless you wait a while. so tell us about that. >> so if you look at how the financial crisis happened, and how bankers get paid, they get paid on yearly returns. if you think you have a chance of making a lot of money very quickly, but that it might tank your bank in five years. there is no reason for you to wait. you get your bonus at the end of every year. why would you wait and really think about what this would mean over the longer haul? if you expand the compensation periods and you look at how someone has performed over a longer period of time. the chances are they'l

paul tudor jones recently made some comments that ruffled feathers. he said that moms cannot be top traders. what are traders on the trading floor saying about those comments? - don't underestimate anything that women can do. 40% of households now, the breadwinners are women, so anything can happen, and actually i think they have more discipline and - guess what - this will show - less ego than guys like us. - i think women can also be good traders. when i was on the trading floor for over 10 years, there was probably only a handful of women on the floor - it was very competitive. guys are in general very aggressive and get in your face, but it doesn't mean women can't be good traders behind the screens. - plus on the screen it's all equalized. - yeah. - time for your bonus round question, and we are going to put our money where our mouth is. name one of the richest women in the world. these ladies must be billionaires. just give me one name. - i got nothin'. - 1 billion-dollar lady. come on. - oprah! - oprah's not worth a billion, is she? - the lady

right, victor in take a listen to this billionaire hedge fund manager paul tudor jones on why moms can'tn wall street. >> as soon as that baby's lips touch that girl's buosum, forge it. every single investment idea, every desire to understand, every desire to understand what's going to make this go up or going to go down is going to be overwhelmed by the most beautiful experience which a man will never share, with that connection between that mother and that baby. >> okay. there's that. >> you could see the discomfort in the other men on the stage because they realized exactly what he's saying, they know the audience and they know that at some point they are going to be tied to that comment. >> he has three daughters which i find interesting in this and when you look at the numbers, i've done a lot of reporting on women fund managers, how women do on wall street. one of the women that i profiled told me she had a really hard time starting out. she runs a billion-dollar fund now, because she couldn't raise money but once she brought a man on board she had no problem raising money so women

. >> by the way, that paul tudor jones did see the various furor and outrage and debates that his commentsu would like to read his response, you can get the full statement on cnbc.com. karen, thank you very much. see you later on "fast money." michelle, thank you very much. double duty for our michelle. >>> coming up next, the moment we've all been salivating over for a whole week. get ready, because it is time to make the cronuts. mine was earned in djibouti, africa. 2004. vietnam in 1972. [ all ] fort benning, georgia in 1999. [ male announcer ] usaa auto insurance is often handed down from generation to generation. because it offers a superior level of protection and because usaa's commitment to serve military members, veterans, and their families is without equal. begin your legacy, get an auto insurance quote. usaa. we know what it means to serve. [ agent smith ] i've found software that intrigues me. it appears it's an agent of good. ♪ [ agent smith ] ge software connects patients to nurses to the right machines while dramatically reducing waiting time. [ telephone ringing ] now a wa

it's good to hear from somebody as paul tudor jones, why not more women traders.rities. if i was a spokesperson i would have been worried after that comment. >> bob: can i make a few comments. i didn't follow a single thing you said, greg, but it sounded smart. there is not enough executive women. their emotions could benefit decision-making. i just spoke to somebody on the break, i'm trading, might make sense to have women who get more emotional in certain things and get out from beneath the trade. best stockbroker i ever had was a woman. >> eric: can i point out the study the breadwinners are women. if you read into it the reason is exactly what we've been talking about the breakdown of the american family. american family, women are force to that breadwinners for the families and that is why the numbers are higher now for single moms. here is offshoot of that. if you are a single mom, breadwinner and you get pregnant, aren't we pushing towards more abortions? it seems like we are. >> bob: the majority of women, low income, minority areas where they are forced t

his name is paul tudor jones and his beautiful wife, sonia, live out near us, we go to their christmasvery year. he's an incredibly wealthy man. but they do such good with their philanthropy. they're really, really beautiful people. they're yoga freaks and the entire family. their christmas card is everybody is in a yoga pose and they're beautiful, beautiful people. next year i would like to be invited along with hoda-woman, that would be fun. >> it was a cool event. >> and they raised -- >> $72 million. they brought the kids out from different schools. >> was that from the concert they did before? or just last night? >> just last night, unbelievable. it was a great, great event. >> send out another god bless you to angelina jolie. who we're finding out this morning, she wrote an op-ed in the "new york times" telling the world and good for her. that she kept this quiet, while she was going through it. >> she underwent a preventable double mastectomy. she got tested for a gene and a lot of women wonder am i carrying the breast cancer gene. she was in fact carrying it. but her was unique

jenna, give us the background for people who don't follow wall street, who is paul tudor jones?>> he's a legend. he's made a lot of money over the years, he's the found over tudoo investments and he's also well known in fill lant by -- by investing in health care, food programs and education. >> 104th i think on the forbes richest list, so somebody who's been very successful. but people who were watching this in the newsroom were absolutely stunned that he would say this, and there almost seemed to be like a nervous laughter in the room, don't you think. >> exactly. if you just watch the body language of the men who are on stage with him, they all kind of seem to be shifting away from him. but none of them said, you're wrong, paul, that notes the way it should be. >> lynne says if a woman doesn't have a baby she -- >> first of all it reminded me that women are too emotional to be as they used to say emergency room doctors, litigators, pilots. >> when i started, they weren't credible enough to do real news. that was the barbara walters things that she had to fight through. but he

melissa: you're talking about the quote that paul tudor jones made, it was a poor choice of words butas trying to say the particular job hea talking about is a 24/7 trader. if y're going to be available to trade around the clock it takes a very specific kind of person who basically isn't attached to anne. i think that person is not a great mom a not a great data moment but probably not a job you have for your whole entireife. maybe you do that for a period of time when you're younger. unfortunately he said as soon as womenhave cdren they're not, i don't want to pararaphrase him incorrectly and further, make this argument even worsehan it already is but whate was talking about, iean i ink would have applied both to men and women. >> yeah. melissa: i don't know. julie,in thoughts before we go? >> i got to tell you if you're a guy and have a baby anrade 24/7 i don't want to be married to you i don't want to be married to that guy. melissa: that's my point. that guy is not a great dad either. thanks for coming on. wish we had more time. we'll do it again. here is our "money" question of t

paul tudor jones is a legend on wall street, a billionaire and philanthropist but this comment about working moms -- >> as soon as that baby's lips touch that girl's bosom, forget it. >> reporter: has many wondering if he's also a sexist. tudor jones is father of four and one of the richest men in the u.s. according to "forbes." the remarks after he was asked why no women were part of this panel of titan traders at the university of virginia. tudor jones says the lack of great women traders is because motherhood is a focus killer. he explained upheavals like babies and divorce can translate to losing money. >> every single investment idea is going to be overwhelmed by that emotive connection between that mother and that baby. >> reporter: the media response was an immediate, oh, no he didn't! cosmopolitan.com's headline read "lame hedge fund mogul says breastfeeding ruins perfectly decent businesswomen." >> i've had two children while i was a working woman. >> reporter: jamie zimmerman, one of the most successful female investors on wall street, she says none of her staff, moms or da

warbles ] >>> well, one of the richest men in the world and a high profile man made a comment, paul tudor joness a savvy investor, but what he said about working moms sparked a major backlash, here is andrea mitchell. >> reporter: it is the sound bite going from college campus to wall street, paul tudor jones said women are not equipped for the elite club of macro traders if they are mothers, because in his work a child is a focus killer, citing two women in the '70s. >> they both had children, and as soon as that baby's lips touched that girl's bosom, forget it, every single investment idea and every desire to understand -- every desire to understand what is going to make this go up or down is going to be overwhelmed by the most beautiful experience, which a man will never share -- >> it was the talk of cable news from morning joe to cnbc. >> give me a break, fathers love their children, worry about their children, think about their children as much as mothers. >> reporter: tudor made a record-breaking millions. he said he is talking about macro traders, many are on call 24/7 and require a hig

. >>> controversial statements from billionaire hedge fund owner paul tudor jones.t female investors or trader as men. when asked why? jones said divorce and having kids is the kiss of death. >> as soon as that baby's lips touch that bossom, forget it. every desire to understand what is going to make this go up or go down will be overwhelmed by the most beautiful experience which a man will never share. >> jones later clarified that he was speaking specifically about female traders, not managers. he also told "the washington post," he tells his three daughters they can do anything they set their mind to. >>> a 9-year-old girl goes toe to toe with the ceo of mcdonald's, she spoke, saying "don't think it's fair when big companies try to trick kids into eating food and point blank asked don thompson, don't you want kids to be healthy so they can live a long and happy life. thompson thanked her for her comments and says mcdonald's doesn't she will junk food. >>> unofficial start to summer, even if it's not warm here. we kick it off with a blockbuster weekend at the movi

paul tudor jones said that male traders when they suffer through divorce lose focus and thus lose moneyre prompting all kinds of reaction, negative reaction as you can imagine. with me from philadelphia is lori wax, founder of cross ledge investments. she has two kids ages 15 and 17. so, lori wax, welcome to you. first question out of the gate, you know, you heard the comments made, university of virginia, by this man, what do you make of them? >> they're pretty outrageous. i'm sorry that he didn't take the time during his busy macro trading to actually look at some of the statistics which show that women, in fact, are better fund managers than men. we're a small piece of the overall investment pie, about 3% of hedge funds are run by women. but if you look at the decade of 2000 to 2009, those women run funds outperformed men by over 3 percentage points on an annualized basis. >> right. you point out 3%. that's the most recent number we have. women run 3% of hedge funds. on a personal note, were you in the business when you had your first child? >> i have always worked. i worked at a lar

the billionaire paul tudor jones speaking at the university of virginia's spring investing symposiummonth when he said that children were, quote, career killers for female traders. watch this. >> as soon as that baby's lips touch that girl's bosom, forget it. every single investment idea, every desire to understand, every desire to understand what's going to make this go up or go down is going to be overwhelmed by the most beautiful experience which man will never share with the connection between that mother and that baby. >> jones, who has four daughters, has since backtracked and now says, and i'm quoting, any man or woman can do anything to which they set their heart and mind. joining us now our chief political analyst gloria borger and chief political correspondent candy crowley the anchor of cnn's "state of the union." gloria, what do you make of this? >> i think it's crazy. i think we have enough people in the world telling women what they can't do and that someone like this gentleman should start telling women actually what they can do. i believe factually the piece in "time"

i want to touch on the controversial comments for paul tudor jones at the university of virginia s virginiain my mind it's as big of a killer as divorce is if they both have children. and as soon as that baby's lips touch that girl's bosom, forget it. every single investment idea, every desire to understand, every desire to understand what is going to make this go up or down is going to be overwhelmed by the most beautiful experience, which a man will never share. about a motive connection between that mother and that baby. >> obviously those comments about women have caused quite a stir ch we reached out to tudor jones for comment. hooefrs what he had to say. they were with regard to global macro traders who wer 24/7 and of whom there are likely only a few thousand successful practitioners in the world today. i believe great success is possible in any field as long as they have the skill passion and repetition to work through the inevitable life events that arise during the way. obviously a huge topic of discussion. hard to have an honest conversation about it. because it's so sensitive. e