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Art Cashin, Wall Street veteran and CNBC regular, dies at age 83
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Art Cashin, Wall Street veteran and CNBC regular, dies at age 83
Dec 2, 2024 4:06 PM

NEW YORK, Dec 2 (Reuters) - Art Cashin, a renowned

market pundit and the UBS director of floor operations

at the New York Stock Exchange, has died at the age of 83, UBS

said.

Cashin, once dubbed "Wall Street's version of Walter

Cronkite" by The Washington Post, was a regular on CNBC,

delivering stock market commentary and analysis to the business

news channel's viewers for more than 25 years. His Wall Street

career spanned more than six decades.

"It is with a heavy heart that I inform you of the passing

of Arthur Cashin, Jr., a true giant in our industry," Bill

Carroll, head of sales and development at UBS Wealth Management

USA, said in a memo sent to employees on Monday.

The memo did not say when he had died or give details about

the circumstances.

In addition to his role at UBS, Cashin was renowned for his

daily newsletter, Cashin's Comments, which was published for

over 25 years with a daily circulation of more than 100,000

readers. He was also a regular on CNBC's "Art Cashin on the

Markets," a segment airing several times a week over more than

two decades.

"It's fair to say that over this time, Art Cashin became a

household name for investors across the country, who benefited

from his savvy insight on the markets, good humor and wit," the

memo said.

Arthur D. Cashin was born in Jersey City, New Jersey, in

1941, according to CNBC. He began his business career at Thomson

McKinnon in 1959 and in 1964, at age 23, he became a member of

the NYSE and a partner of P.R. Herzig & Co.

In 1980, Cashin joined investment bank PaineWebber and

managed their floor operation. PaineWebber was acquired by UBS

in 2000. At that time, the NYSE floor was the hub for the vast

majority of trading activity in the United States.

His newsletter, which combined market analysis with

trivia, historical tidbits and even recipes, often generated a

buzz in Wall Street's trading rooms and on the NYSE floor.

"The day Cashin's Commentary was released was always a

landmark on the Street," said Art Hogan, market strategist at

Baird Wealth Management, who got to know Cashin during the

several decades they worked on Wall Street together.

One recipe regularly featured was for "White Castle

burger stuffing", which he usually sent ahead of Thanksgiving,

Hogan recalled. Its ingredients? The bun and patty from a

hamburger bought from budget restaurant chain White Castle.

Cashin was also a regular at Bobby Van's Steakhouse in

Manhattan, where for decades he and a group of friends would

gather to tell stories and discuss markets. His usual drink was

a Dewar's on ice, and the restaurant would have his first ready

for him within five minutes of the closing bell ringing.

"Every time I'd be in New York, I'd be sure to be at Bobby

Van's right when the markets closed," said Julie Werner, an

individual investor in the Atlanta area, who first met Cashin

back in the mid-1990s when she was taking classes at the NYSE.

"They'd have his drink ready and waiting for him at his own

seat."

Cashin was one of three senior executive floor governors and

also served as a member of the Bond Club of New York.

He also chaired the NYSE Fallen Heroes Fund, which assists

families of first responders killed in the line of duty.

CNBC did not immediately respond to a Reuters request for

comment. Cashin's family could not be reached for comment.

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