Storyteller and Trader Extraordinaire
On this day in 1964, (that's 50 years ago for you who need a calculator, er..smart phone) a young man was promoted to partner of P.R. Herzig & Co., and became one of the youngest people ever to have a seat on the New York Stock Exchange.
But he sure didn't "take a seat" or "remain seated" over the next 50 years. His name is Art Cashin. That's right, he's the same guy who writes many of the historical posts for this site. And boy has he ever been busy over that half century.
My own involvement in the trading floor business didn't begin until four years later, so Art was a floor member on the "big board" in the "big apple" before I was even an odd lot boy on the tiny Midwest Stock Exchange in the second city. Art still has his seat and I still have mine. But mine is a recliner in my living room and his is still a membership in one of the most important and historic financial institutions the world has ever known.
Today he is director of floor operations for UBS Financial Services and he appears daily on CNBC. But somewhat more importantly (to me) he is a contributor of wonderful stories to this lilliputian blog. I have been extremely grateful to Art and UBS for allowing me to republish those great stories over the last several years and it's my hope that in some small way this blog has exposed people to his historical musings who otherwise would have never read them.
So, congratulations Mr. Cashin on your 50th anniversary on the floor of the NYSE. And thanks for informing us while entertaining us for all that time.
As he penned in this morning's Cashin's Comments, "It has been a most interesting half century." I wholeheartedly agree! The man is an institution inside an institution.
To celebrate the day, if you happen to see him in his "seat" in some historic Wall Street watering hole, scribbling trading level numbers on the famous cocktail napkins that have informed so many traders for so long, be sure to tip your hat to a Wall Street icon and thank him for the stories you have enjoyed here.
Read more about Art here.