Opening Bell: 07.24.09


Warren 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.