he's sticking with steve cohen. why is that? 26% annual returns -- annualized returns after fees and expenses. we should point out he has the highest fee and expense ratio in the business. he charges you 3% right off the top as a management fee. then he takes 50% of the profit. and he still returns 26 -- 26%. done this since 96. that's why ed butowski wants to put money in. people inside asc tell me -- people inside sac tell me -- by the way, if in is a spin job, i have stupid spin stuff on my twitter page, i will say this, they didn't call me. they didn't want me to do the story. they were not happy about it. this wasn't something that was leaked to me, you know what i'm saying? i spoke with some investors and they say this is one of the plans to counteract this. i think it sounds logical to me. people are going to put money in. take money out. they've got some people that really want to put money in. liz: well the gates open both ways. okay, so some people are leaving, others who might be less risk averse want to get in. >> ri

that's the point -- i mean why are they going after steve cohen?that is kind of your opinion and their opinion. liz: that's their opinion. that's not my opinion. >> here's my belief on insider trading. he may go to jail he may not. i have a feeling they are not going to get him on this. i also have a feeling when martoma spoke to him he didn't say hey steve i have some insider information on this one. liz: they are smarter than that. >> they talk in a code. at sac capital they ask you about your conviction level, number 10, that's -- liz: got inside stuff. >> who knows. i'm just telling you this while they are going after this, there are real rip-offs going on. insider trading is not a rip-off. liz: charlie thank you very much. closing bell ringing in 17 minutes. if you are an investor waiting on the side lines, too scared a year ago, time to get into the game, at least that's what carol pepper of pepper international is telling her high net wealth clients. she has more than a billion in assets that she is in charge of. we're bringing her in to tel

they seem to be implicating steve cohen personally.e has said he and the firm did not do any insider trading and they have another story to tell that involves lack of economic exposure to those stocks falling. they are in the cross-hairs in a new uncomfortable way despite an investigation that's years old. >> kate stick with us. dr. j, reaction? >> at 30% because what kate just reported is about 30% of outside capital being withdrawn or asked to leave, they want to leave, but they will be gated some of that until the end the year. i think if you're a fund to funds that has allocations at sac, you have that gourn head. you need the performance but on the other hand you don't need the headache of what steve cohen. so although i think he's a great manager a lot of folks didn't want to deal with the hassle and that's why they exited. >> talk to me about controversy versus performance when it comes to big money guys putting fwhoerng in a hedge fund. >> you're sitting in your chair getting calls from clients. do you have money in sac. why? i

tweeted steve cohen. ilu. hello. tweeted and then deleted.rts victoria brink, age 24. the hounds started baying. reporters start digging and the republican chief in cohen's home state of tennessee gleefully called cohen, and i'm quoting, the weiner of the south. cohen now says victoria brink is, ta-da, his long lost daughter. that's right. his daughter. he says he didn't even know victoria brink existed until fairly recently, just a couple of years back. small world too. the daughter's mom, it turns out, is texas attorney cynthia white sinatra, as in formerly married to frank sinatra jr. mom also ran for congress in 2006 and lost to ron paul. >>> a former mayor with a major gambling addiction. how bad did it get? more than $1 billion bad. find out why she will not face charges. we're on the case next. lobsterfest is the king of all promotions. there's nothing like our grilled lobster and lobster tacos. the bar harbor bake is really worth trying. [ male announcer ] get more during red lobster's lobsterfest. with the year's largest selection of

and it appears that 63-year-old tennessee congressman steve cohen was tweeting 24-year-old model during state of the union. what can i say? at least he didn't pull a wiener. and kate upton almost froze to death to bring you a booby-lishes sports illustrated cover. >> that was unnecessarily mean to bill, and then i thought it was not unnecessary at all. >> not possible. >> see you at half time. let's welcome our guests. i am here with diane macedo who anchors business news in the morning on the fox network. and paul mccurio that makes for a great valentine's day present. it is called image makeover. and women continue want to be with him and men don't want to be him. it is bill schulz. and next to me is mike baker, the former cia operative and president of diligence. diligence, when a drone is an up close and personal, think diligence. diligence, making the world a better place for the people who pay us. >> well, it was as talky as it was clapy. that's what they said about the state of the union. it got off to a weird start. >> mr. speaker, the president of the united states. >> and then

steve cohen has 6 billion. partners have another two billion. formidable without the outside money. the big things, guys, is the indictment. and will the statute of limitations run out. i tell you that july date is pretty key. that's when it is over. if they don't bring a case against him by july, what a lot of big investors are saying they probably won't bring a case because a lot of these charges stem from 2008, and before. and by the way, there is five years for you right there. that's where we are right now. may is a big date in terms of redemptions. if they think that, that cohen could get indicted between may and june and may and july, you could see a lot more money coming out. billions. i would say much more than 1.7 billion. it all depends. does the guy that has been indicted on that one big kise does he flip and doesn't look like he will. listen, this is a bet. like the market. the betting right now is that every day it gets closer to july, money will not come out. steve cohen survives. ashley: charlie, quickly, you can only take out 25

during this year's state of the union address, representative steve cohen was spotted tweeting.ou might say it's a little disrespectful to be tweeting while the president's speaking but there he was busily tweeting away. especially if you're sitting right in front of the president. that is not what raised eyebrows. what was more shocking to people was who was on the other end of that tweet, a 24-year-old bikini model. "happy valentines day, beautiful girl." and "i love you." that prompted a member of staff to quickly explain the woman was a daughter of a long-time friend, and they're pretty much like family. something didn't smell right there. as you can imagine most people did not buy that explanation, and many people assumed it was an older congressman in a secret relationship with a younger woman. then the truth came out. she is his daughter. >> knew her mother a long time ago, i'd been to an event where i thought about her mother. i liked her mother. i googled her one night and saw that she had given birth to a beautiful young lady. and i kind of went back to nine months bef

a central issue is whether steve cohen will be personally charged as part of the ongoing insider trading probe despite assertions he didn't break the law. by may there may be more clarity, partly because there is statute of limitations on cases that run in july. in the meantime, sac will fork over $660 million by march 30 and additional billion by year end. maybe more. on the good side though. great upside last year at sac brought total uam to $15 billion by the beginning of this year and 9 billion of that is steve cohen and colleagues and their personal investments who plan it add more in the near future. >> great story, kate, thanks very much. so who is listening, watching and hacking your smart phone? see how easy it is when we come back. >>> can you imagine how frightening a display and just how powerful space can be? it's been a long time since fire rained down on earth. but it happened early this morning, scare rg thousands, injuring hundreds. an incredible display of nature coming up on "power lunch." s li. but they can also hold you back. unless you ask, what's next? [ zapping ]

democratic congressman steve cohen says the woman he tweeted during the state of the union address was not a romantic interest. it was his daughter. the papers -- it said i l you which is short for brink. it turns out brink is his daughter. he tweeted her because he was thrilled to find out she was watching the state of the union. cohen, who is not married, says he only found out three years ago that he had a daughter. he has not elaborated on the circumstances surrounding that situation. >>> it's a day ahead before president obama heads to florida for the president's day weekend. he'll welcome giorgio napolitano to the white house and hand out the citizens medicals and round out the day with a trip to chicago. he'll speak at a school near his home about economic initiative outlined in the state of union address. he's expected to talk about gun control measures. >>> john kerry will make his first foreign policy speech at the university of virginia. the state department says kerry will speak next wednesday about the importance of u.s. diplomacy. will be the first in a series he'll deliv

if you believe that there's evidence that steve cohen actually had the inside information, by the wayone of that is -- >> but it's over that. even so -- >> but then it change the equation as to why were they getting neutral ahead of this thing as opposed to going short. and it changes a little bit of the optics of what's going on. by the way, worth note b, the redemption deadline for sac is in the next couple weeks. so a lot of people are trying to figure out whether steve cohen is going to be indicted or move forward or not. maybe this detail changes some of the dynamic. >> there's inside information on -- >> i'll give you one last side to all of this. this is the completely cynical view. they have these swaps in place. it's much harder to get out of an equities swap than it is to simply dump or sell the shares the way they were doing through other things. when you have an equity swap, you have to call up the counter party of the bank and said i want to get out of this. a lot of people if you have an equity swap find out about it. if you were trying to do this all this under the cove

congressman steve cohen is here to tell us his story.from national. because only national lets you choose any car in the aisle...and go. you can even take a full-size or above, and still pay the mid-size price. now this...will work. [ male announcer ] just like you, business pro. just like you. go national. go like a pro. >>> the twitter verse was buzzing during the state of the union speech this week but one tweet in particular drew quite a lot of attention. it was from congressman steve cohen, married tennessee democrat, whose district includes much of memphis and it was this -- and this is the tweet that raised eyebrows to a woman named victoria brink. nice to know you were watching the state of the union. happy valentine's girl, i love you. it sparked so many questions. who is the woman cohen was communicating with so intimately? it turns out it was his daughter. a woman he didn't even know existed until just a few years ago. congressman steve cohen is joining me from capitol hill. thanks so much for joining me. this really created q

congressman steve cohen says the young woman he was tweeting with during today's state of the union addresser. he said he only discovered her existence three years ago after receiving a tweet from her. he said he was overwhelmed with joy that she actually wanted him in his life. initially, his staff did say that he was tweeting with the daughter of a long-time friend. >>> illinois is a step closer to becoming the tenth state to approve same-sex marriage. the senate passed a bill that would allow gay couples to get married. the fate of the legislation in the illinois house remains uncertain. but if it passes, the governor, a democrat, has promised to sign it. >>> also from the culture wars this morning, this out of southern california. a pregnant woman says she was fired for having premarital sex. terry james and her attorney gloria allred are suing san diego christian college claiming wrongful termination. james worked at the school for about two years. she claims she was fired after admitting being pregnant. >> a child is a blessing, and our number one goal is to start our child's life off

tennessee representative steve cohen sent a note to a young follow follow follower saying ilu, i loveeleted it. he told wolf blitzer he discovered the young woman after searching for a long lost love online. >>> it is the latest company to be a victim a hacker attack. some of their computers were infected by malware in january. hackers have also gone after twitter, "new york times" and wall street journal. olympic hero oscar pistorius is behind bars, facing a murder charge in the death of his girlfriend. next week a judge will decide if he will get bail or not, on tuesday. reevea steenkamp was expected o air in a reality show. producers say it will air. hello to both of you. i appreciate you joining us to tell us about oscar. i know you're both shocked. last year you tied his world record in the 100. did you become friends as well as competitors? you said he made you feel like you could really achieve anything. >> yeah. i met oscar three years ago, and have been competing alongside of him throughout the years. he has almost been like a mentor to me, big brother. we both have the same

and tennessee congressman steve cohen says his tweets to a woman during the state of the union were not sent to a romantic interest. they were actually sent to his daughter, a daughter he only learned about three years ago. cohen had originally said he sent those texts to a family friend. people have been watching the state of the union, they saw him send out a text. there had been speculation that he was flirting with this woman because he said that i love you in the tweet. turns out it was his daughter. and is president obama ready to put the penny out with the trash? here's what he said yesterday in a google plus chat when asked if the government should stop minting them. >> we remember our piggy banks and counting up all our pennies and taking them in and getting a dollar bill or a couple dollars from them. maybe that's the reason why people haven't gotten around to it. but any time we're spending more money on something that people don't actually use, that's an example of certainly we should probably change. ♪ and pennies from heaven for you and me ♪ ♪ patrolling they tryin' to cat

and an awkward valentine's day for steve cohen, he exchanged a couple of public tweets who is a friendnice to know you were watching, happy valentine's beautiful girl, that message was deleted a short time later. they insist the two just friends. look what mommy is having. mommy's having a french fry. yes she is, yes she is. [ bop ] [ male announcer ] could've had a v8. 100% vegetable juice, with three of your daily vegetable servings in every little bottle. >>> if are you among the many that wonder why we spend so much money exploring outer space? according to one report that's how much a 150 wide chunk of ice and rock that's about to buzz past the earth could be worth. here to talk more about this and give us the details, additioning pitz at the chief franklin institute in philadelphia. let's talk about this asteroid. how close is it to work, and what does it mean? >> it's awe close pass, thomas. this is the closest pass of any tracked asteroid we've ever seen. it's only going to be about 17,200 miles away from earth, and that places it just 5,000 miles away from the outer band of ge

have the president giving the state of the union address, right, and this democratic congressman, steve cohenrom tennessee sending out flirtatious tweets, right? to a woman named victoria brink and first tweet read victoria brink, please you are watching ilu, stands for i love you. followed by this tweet. victoria brink nice to know you are watching the state of the union, happy valentine's beautiful girl, again, i love you. of course the tweets were meant to be private and instead went public and representative cohen quickly delated them too late the media found out that victoria was a 24-year-old sometime bikini woman, and all the time good looking woman and weiner-gate revisited. but just as the great white media shark is getting ready to chomp down, representative cohen drops the bombshell that victoria brink is his long lost duth and found out three years ago when he googed his old girlfriend found out she had a baby and the timing is right and now he's trying to be a good dad and this twitt twitter mistress story was hard on her. >> i love my daughter and difficult, some of the tweets r

. >> charlie gasparino has exclude sieve detail on sac chief steve cohen. melissa: the latest on the ship's condition just ahead. a look at the ten year and 30-year as we head out to break here. you can see the yield rising on the 10-year. we'll be right back. today is gonna be an important day for us. you ready? we wanna be our brother's keeper. wh's number two we wanna do? bring it up to 90 decatherms. how bout ya, joe? let's go ahead and bring it online. attention on site, attention on site. some of the world's ncleanest gas turbines. are now powering some of america's biggest cities. siemens. answers. gives you 1% cash back on all purchases, plus a 50% annual bonus. and everyone but her likes 50% more cash, but i have an idea. do you want a princess dress? yes. cupcakes? yes. do you want an etch-a-skch? yes! do you want 50% more cash? no. you got talent. [ male announcer ] the capital one cash rewards card gives you 1% cash back on every purchase plus a 50% annual bonus on the cash you earn. it's the card for people who like more cash. what's in your wa

. >> after steve cohen -- >> i was going to say it is amazing that in this day and age, elected officialsand secret children that no one knew about. and the story is sort of coming out on their own terms. >> bill: strom thurmond, baby. >> the first lady is heading out on the road to celebrate the third anniversary of the let's move campaign. michelle obama visiting jimmy fallin's late-night program also "good morning america" and several other shows and many schools across the country in a trip to promote the anti-obesity movement and she's making a big announcement on a new physical activity initiative in schools in chicago later today. >> bill: going out so people can see her bangs. >> which is now on the new official white house portrait of hers. as reported by "the hill" newspaper. >> if they are to be trusted. >>> hillary clinton will not be missing her secretary of state salary, a measly $186,000 per year. buzzfeed reporting on the speaking circuit she will be earning north of $200,000 per speech. there is a very exclusive group of people who make that much. only her husband, bill c

and the deadline has now passed for outside investors and steve cohen's outside capital to withdraw funds from that hedge fund. the manager says roughly 60% of the firm's money comes from dollars invested by cohen and his employees. so the impact of their redemptions may be more symbolic than anything else. blackstone is si a c's largest outside investor. the firm did redeem some investor capital and will consider whether to remove additional funds in may. and couster's says it will oppose disney's combination of the chairman role and its executive pay plan at the company's annual share hoeding meeting in march. that's 0.3% of a stake. so i don't think this goes anywhere. they like to be advocate and -- obviously involved if there's a centered around. >> bob iger was elected chairman at last month's meeting and if you poll ten people, nine of them would say he's worth every penny, and he's handsome. he has a beautiful wife, a lot going for him. how about the new star wars stuff? >> that's going to give them more stuff. >> it's not nbc universal, obviously, and neither is he like one of th

lorenzo, cizi, karen fishkin, peter cohen, fernando, carolyn, bryce, david feather stone, andy, lisa garcÍa. go ahead. >> thank you. good afternoon. my name is steveighborhood development corporation. and we are also a member of the council for community housing organizations. we've taken a position opposed to the legislation primarily because we see t.i.c.s as cannibalizing the existing rental housing stock. our rental housing stock is critical to preserve in maintaining the affordability in san francisco's housing. we believe that, furthermore, that the uncapping the conversion condo conversion cap will further incentivize more t.i.c.s forming from our existing rental housing stock, thus leading to -- exacerbating the affordability problem in san francisco. furthermore, the the fee, we have questions about the fee, for bypassing the conversion lottery. it's set as high as 20,000 but as low as 4,000. this is substantially lower than the in lieu fee that the mayor's office of housing has set forth of construction for bmr units through new condominium construction which is as low as 175 -- as high as 175,000 per unit. we're afraid that this fee --