Art Cashin, a prominent Wall Street personality with a 60-year career, has died at the age of 83.Cashin was a respected voice in the financial world, known for his cutting humour, deep market observations, and long-standing presence on the floor of the New York Stock Exchange (NYSE). His death marks the end of an era on Wall Street, where he stood as a beacon of endurance, tradition, and skill.
“It is with painful despair that I communicate the tragic news of the passing of Arthur Cashin, Jr., a truthful giant in the field of financial services and a highly valued market pundit,” wrote Bill Carroll, head of sales and development at UBS Financial Services USA, in an email to employees seen by Reporters on Monday.
Cashin, dubbed ‘Wall Street’s variant of Walter Cronkite’ by The Washington Post, was a regular on CNBC, giving stock market commentary and analysis to the channel’s viewers for over 25 years.
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He started his entrepreneurial career in 1959 at Thomson McKinnon. In 1964, at the age of 23, he attended the NYSE and became a partner at P.R. Herzig & Co.
Cashin joined the investment firm PaineWebber in 1980 and was in charge of their floor operations. UBS acquired PaineWebber in 2000.
During the time, the NYSE floor accounted for the great majority of the trading activity in the USA.
Cashin was one of three top-level floor administrators and a Bond Club member in New York. He was also a member of Mensa, a group for people with high intelligence.
A legacy of mentoring and community
Aside from his professional accomplishments, Cashin was noted for his philanthropy and mentoring. He took great delight in developing emerging talent and passing on his knowledge and experience to the next generation of traders and financial professionals. Many of his coworkers praised him for his generosity, humility, and eagerness to help others succeed.
Cashin was likewise dedicated to building a feeling of community on the NYSE floor. He believed in the benefits of companionship and collaboration, which he demonstrated throughout his professional career. His presence was distinguished by his distinctive braces, a friendly smile and an always-ready anecdote or joke to lighten the occasion.
recalling Art Cashin
Art Cashin’s death creates a vacuum in the financial world, where he was both a veteran and an idol. Colleagues, acquaintances, and admirers have paid tribute to his achievements to Wall Street and long-term impact on the industry.
As the world remembers Art Cashin, his reputation as a market expert and popular character on Wall Street will continue to inspire future generations.
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