• 24 Jul 2009 at 8:15 AM

Opening Bell: 07.24.09

By Bess Levin

Picture 1800.pngWarren Buffett To Get Animated (CNBC)
Yes. The Oracle of O will be starring in a series of cartoons imparting wisdom on kids in the areas of finance and huge cans.
JPMorgan Said to Increase Some Investment Banker Salaries Starting in 2010 (Bloomberg)
“The plan, unveiled yesterday at a meeting with investment bank co-heads Steven Black and William Winters, affects those who earn half or more of their total compensation in year-end bonuses, the person said, declining to be identified because pay matters are confidential. It will be implemented in 2010 and details will be announced closer to the end of this year. The salary increase doesn’t change total pay.”
Fortress Plans Buying Spree (FT)
Wes Edens has a message for any hedge funds that haven’t made back last year’s losses by the end of ’09: “It’s all over for you,” so you might as well turn over the keys to the place now.
Citigroup Board Names Three New Outside Directors (C)
Vikula welcomes (Mike Bloomberg gal-pal) Diana Taylor, Timothy Collins, and Robert L. Joss.
Calpers Hopes Riskier Bets Will Restore Its Health (NYT)
The fund’s new head of investments aims to sink a few billion into “beaten-down private equity and hedge funds. Junk bonds and California real estate also ride high on his list. And then there are timber, commodities and infrastructure.”
Blindsided By Bear, Mr. Miller Sees Bull (WSJ)
In a quarterly report to fund shareholders, Mr. Miller said that a new bull market is under way and that technology and financial-services stocks would be among its leaders.
Buffett’s Goldman Stake Pays Richly (Dealbook)
Ka-ching for the Oracle. WB’s stake in Goldman is now worth $4.1 billion more than what he paid 10 months ago and the girls are on Lloyd.

Comments (22)

  1. 1
    Posted by NakedShort | July 24, 2009 at 8:23 AM

    Speaking of college football; I hate Tim Tebow I hope all of the ligaments in his knees explode or he gets caught getting a bobber from A. Dupre

  2. 2
    Posted by guest | July 24, 2009 at 8:25 AM

    By Wes’ logic he is toast.

  3. 3
    Posted by guest | July 24, 2009 at 8:38 AM

    that guy looks nothing like buffett.

  4. 4
    Posted by guest | July 24, 2009 at 8:40 AM

    I’d like to hear WB’s wisdom on huge cans.
    -kid

  5. 5
    Posted by guest | July 24, 2009 at 8:52 AM

    That cartoon grin makes me want to repeatedly punch the guy in the face until he stops moving.
    – Snake Plissken

  6. 6
    Posted by guest | July 24, 2009 at 8:52 AM

    I kinda would like to see CALPERs go bust. Just so I could look at this story and laugh and laugh and laugh at them. California real estate? It makes sense I guess, cuz if California real estate doesn’t recover, CALPERs is done for anyways. You think the Cali IOU problem is bad now, think about what happens if CALPERS tanks.

  7. 7
    Posted by guest | July 24, 2009 at 8:52 AM

    i second NS’s comment

  8. 8
    Posted by guest | July 24, 2009 at 9:01 AM

    @6 = arnold schwarzenegger

  9. 9
    Posted by guest | July 24, 2009 at 9:10 AM

    CALPERS. . . #6, I am already laughing hard. What a farce!
    Can’t wait to see more constituents bailed out in blatant fashion.
    Buffett Plan to Get Rich: Buy companies in industries that you KNOW will be bailed out back to health.

  10. 10
    Posted by guest | July 24, 2009 at 9:11 AM

    Anyone seen Charlie Munger lately? Is he in an alzheimers’ ward or did he die?

  11. 11
    Posted by Anal_yst | July 24, 2009 at 9:14 AM

    @6
    Agreed. Given the timing of the post on ZH the other day, this is especially humorous. These guys are seriously f*cking pikers, hacks, at best. But good for them, one way or another at some point they’ve got limited downside.

  12. 12
    Posted by guest | July 24, 2009 at 9:23 AM

    Buffett: “…will be a happy ending.”
    Would somebody with too much free time get a screenshot of CNBC running the banner underneath WB.
    -Nominate me

  13. 13
    Posted by guest | July 24, 2009 at 9:54 AM

    “Martha Stewart, model Gisele Bundchen and the late astronomer Carl Sagan will also appear in their own series.”
    Martha Stewart to appear on Buffet series as insider trading villain. Will be given spin off series upon learning the error of her ways.

  14. 14
    Posted by guest | July 24, 2009 at 9:55 AM

    To run their multi-billion dollar portfolio, Calpers hires a political hack whose only background in finance is running the Washington pension fund, which lost 27% in the past year, which is worse than the performance at Calpers, which he was hired to reverse. I can’t see what could possibly go wrong with that decision.

  15. 15
    Posted by guest | July 24, 2009 at 10:05 AM

    Hating Tebow is like hating Goldman Sachs, you are just jealous that we continue to kick your ass.
    - U of F ’02
    - GS ’02 – Present
    In other words, how exactly does my ass taste?

  16. 16
    Posted by guest | July 24, 2009 at 10:08 AM

    @13 “Environment” by Bundchen (a model at that) shouldn’t even exist. It should be a side note under Science. Friggen irrational hippies nowadays.
    When I encounter the greenpeacers that crawl around the city soliciting “2 minutes to save the environment” I tell them, “Nope. I support the maximum possible technological exploitation of every atom on Earth, fuck your baby seals.”

  17. 17
    Posted by guest | July 24, 2009 at 10:38 AM

    @ 15 – Wow. I really hope you are joking.

  18. 18
    Posted by NakedShort | July 24, 2009 at 10:52 AM

    @15 thats great congratulations

  19. 19
    Posted by guest | July 24, 2009 at 11:07 AM

    hedge twats
    http://www.nypost.com/seven/07242009/news/regionalnews/sex_harass_shakedown_180992.htm

  20. 20
    Posted by guest | July 24, 2009 at 1:28 PM

    15- How does the Wolverine ass taste?
    Jan 1, 2008: Mich 41, UofF 35.
    Yeah, we lost to App State that year. But we still beat your UofF’s ass.
    BTW, lazard or blackstone wouldn’t hire a UofF guy…

  21. 21
    Posted by trojan | July 24, 2009 at 2:26 PM

    tebow is a fat shit who wont last 5 years in the nfl unless he converts to tight end.

  22. 22
    Posted by guest | July 24, 2009 at 3:29 PM

    @21
    Everyone knows that, including Tebow and his coaches. Whats your point?

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