Art Cashin, the Director of Floor Operations at the New York Stock Exchange (NYSE) and a longtime CNBC commentator, has passed away at the age of 83. Known as “Wall Street’s version of Walter Cronkite” for his folksy market analysis and ability to tell stories about the stock market, Cashin was respected by both bulls and bears alike.
Cashin’s long career on Wall Street spanned over 50 years, beginning when he was just 17 years old and still in high school. He started out at Thomson McKinnon, a brokerage firm, and later became a member of the NYSE and a partner at P.R. Herzig & Co.
Despite his extensive experience and knowledge of the market, Cashin remained humble and down-to-earth. He was known for his charming personality, witty sense of humor, and ability to connect with people from all walks of life. His daily market commentary, “Cashin’s Comments,” was widely read on Wall Street and often began with an analysis of an important event that occurred on that date.
Cashin was also a keen observer of human behavior, often discussing the psychological effects of market events on individuals. He believed that people have a tendency to overreact in times of stress, and that those who take the time to think things through carefully tend to do better in the long run.
Throughout his career, Cashin was dedicated to his family and the NYSE. He chaired the NYSE “Fallen Heroes Fund” after the Sept. 11 attacks and was a beloved figure on the trading floor. When the NYSE closed during the Covid pandemic, Cashin expressed his disappointment, but understood the necessity.
Cashin will be remembered for his stories, his love of the NYSE, and his dedication to his family. In lieu of flowers, his family requests donations be made to the Arthur D. Cashin Jr. Memorial Scholarship at Xavier High School.
