Wall Street Guru, Mentor, Veteran Trader, Technical and Fundamental Analyst, Money Manager, NYSE Stock Market Official and Historian Arthur "Art" D Cashin Jr Passes at 83

All of Wall Street, and traders across the United States, are sad this evening. Arthur Daniel Cashin Jr, simply known as Art Cashin, passes away at 83 years old. It is a punch to the stomach for anyone that has traded professionally since everyone knows Art. He was one of the very few people worth listening to when his face would pop-up on television typically on CNBC for many years.

Art was a Wall Street guru, mentor to many, a veteran trader that was super sharp and perceptive concerning human behavior, a great technical and fundamental analyst, expert money manager, NYSE stock market official and brilliant historian. He had the ability to explain complex trading concepts in simple, and sometimes humorous, terms. 

Keystone learned a lot from Art's commentaries over the decades. When Art spoke, everyone stopped and listened, like the old E F Hutton commercials. A CNBC article says that he was the Walter Cronkite of Wall Street, to which Art replied, "I think I owe an apology to Walter Cronkite." Art was more like the Mark Twain of Wall Street and he would like that title better, and he deserves it.

When Keystone says, on a day when stocks are moving sideways, that the market is "flatter than a newlywed's souffle," that is an Art saying. One time a novice reporter was on the floor asking Art about the market action (it was a slow, boring summer day with nothing going on). He said, "It is a wax museum." The reporter asks, "Why a wax museum?" Art said, "You look around, and recognize all the faces here, but everyone is standing still and not moving." On Friday's, as the stock market started to close down for the week, he would comment about weekend plans (and doing a little drinking) and proclaim, "The ice cubes don't have a chance."

Art wondered why he was so popular since he was an unassuming  man and never pursued the limelight. That was the reason. Art had charisma and he was not a braggard. Far from it. He could have bragged about being a 'bigtime man on Wall Street, look at me, people listen to me, I am a bigtime guy, you should know my name because I am a big shot'. You never heard Art talk like that not once ever. He was the complete opposite. Talking to Art was like talking to a neighbor standing on the other side of the hedges.

Art's end of year poem will be missed this year. Every year, he would recap the entire year's events at Christmastime with a poem that rhymes to the 'Twas the Night Before Christmas poem. It is guaranteed that Art likely had 80% of it finished so who knows, maybe it will appear this month if the family finds it in his desk drawer.

'Twas the night before Christmas, and all through the house, everyone is sad and quiet, because our dear friend Art has passed. But he would not stand for such melancholy, and instead Art would demand smiles, and that people be jolly.

From one trader to another, Art, rest in peace my friend. Like you always said, the daily stock market story is the saga of the bulls versus the bears. It certainly is, and the saga lives on.

A CNBC article says in lieu of flowers, the family kindly request donations be made to the Arthur D Cashin Jr Memorial Scholarship at Xavier High School. Contributions may be sent to Xavier High School, 30 West 16th Street, New York, NY 10011.