Renowned Market Pundit Art Cashin Passes Away at 83
A Legendary Career on Wall Street
Art Cashin, a prominent figure in the financial world and director of floor operations at the New York Stock Exchange, has passed away at the age of 83. With a career spanning over six decades, Cashin was a household name among investors, known for his insightful market commentary and analysis.
A Regular on CNBC
Cashin was a familiar face on CNBC, providing daily market insights to viewers for over 25 years. His segment, “Art Cashin on the Markets,” aired several times a week, offering his unique perspective on the markets. His witty humor and ability to break down complex financial concepts made him a beloved figure among investors.
Cashin’s Comments: A Daily Newsletter
In addition to his work on CNBC, Cashin published a daily newsletter, Cashin’s Comments, which was circulated to over 100,000 readers. The newsletter was renowned for its unique blend of market analysis, trivia, historical tidbits, and even recipes. It was a staple in many Wall Street trading rooms and on the NYSE floor.
A Life of Service and Philanthropy
Cashin was not only a respected figure in the financial world but also a dedicated philanthropist. He chaired the NYSE Fallen Heroes Fund, which provides assistance to families of first responders killed in the line of duty. He was also a member of the Bond Club of New York and one of three senior executive floor governors.
Early Life and Career
Born in Jersey City, New Jersey, in 1941, Cashin began his business career at Thomson McKinnon in 1959. He became a member of the NYSE and a partner of P.R. Herzig & Co. at the age of 23. In 1980, he joined investment bank PaineWebber, where he managed their floor operation. When PaineWebber was acquired by UBS in 2000, Cashin joined the firm and continued to play a vital role in its operations.
Personal Touches
Those who knew Cashin fondly recall his love for tradition and ritual. Every day, he would gather with friends at Bobby Van’s Steakhouse in Manhattan, where he would order his usual Dewar’s on ice. The restaurant would have his drink ready and waiting for him within five minutes of the closing bell ringing. He was also famous for his “White Castle burger stuffing” recipe, which he would share with his readers every Thanksgiving.
Tributes Pour In
Bill Carroll, head of sales and development at UBS Wealth Management USA, paid tribute to Cashin, saying, “It is with a heavy heart that I inform you of the passing of Arthur Cashin, Jr., a true giant in our industry.” Art Hogan, market strategist at Baird Wealth Management, remembered Cashin as a larger-than-life figure, saying, “The day Cashin’s Commentary was released was always a landmark on the Street.”
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