Art Cashin

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Oct 16, 2009 9:32 am

Has anybody heard this guy lately?  I definetly get the sence that he has his money on the sidelines and has missed this rally. Now he is doing everything in his power to make the market go down. At first I thought he was just bearish, now I am convinced he has missed it and he is angry!

Oct 16, 2009 9:43 am

the trap.

 
mar 2009
too much cash.
10 times worse then 87, 90,98,02
 
bears fukced
try to justify that they messed up big time
its a wonderful thing
 
art sounds real dumb
we going higher
 
 
Oct 16, 2009 11:23 am
Runlong:

Has anybody heard this guy lately?  I definetly get the sence that he has his money on the sidelines and has missed this rally. Now he is doing everything in his power to make the market go down. At first I thought he was just bearish, now I am convinced he has missed it and he is angry!



 
He has bee negative all the way up from the March lows.  He has missed it big time.
Oct 16, 2009 12:57 pm

Hey guy's what do expect he works for a wirehouse  


 
They cannot manage there own money let alone anyone else's
Oct 16, 2009 7:20 pm
Greenbacks:

Hey guy's what do expect he works for a wirehouse  


 
They cannot manage there own money let alone anyone else's



he is director of floor operations, not in research. just a grizzly old coot that has great entertainment value for the cnbc folks.

The UBS research has actually nailed it, the where the highest overweight in equities in the history of the firm over last 6 mo's.

Oct 16, 2009 7:28 pm
Greenbacks:

Hey guy's what do expect he works for a wirehouse





They cannot manage there own money let alone anyone else's





what a stupid comment

Oct 16, 2009 7:43 pm
mlgone:

http://www.businessinsider.com/the-idiot-maker-rally-2009-10#nouriel-roubini-how-low-can-the-market-go-1

 
That is classic. Roubini has no clue about short term market movements and neither does Buffett,  but half of this site participants think they do.
Oct 16, 2009 10:25 pm

I wouldn't discount Cashin.  The guy is smart, experienced, and he's a hell of a lot closer to the action than any of you jokers.  Give it another few months and we'll see if he's still wrong.

Oct 17, 2009 12:35 pm
mlgone:

loved Rosenberg at ML.





He called this whole thing. I saw it in June of 08 with (saw it with my clients.......not cool)



Totally missed the rebound.   Missed the whole thing



Proves you can't listen to one guy...........





Rosenberg called it EXACTLY.    100% spot on

And thats the problem with perma bears.   They are like broken clocks.

jeremy Granthem DID reverse and get bullish at 6500 BUT went back to the sky is falling at 9k.



Warren=God    that is what works    

Oct 17, 2009 3:30 pm

Yeah a grissly old coot.



50 years on the floor of the NYSE. I am sure that you have seen as much in your career.



Head of all NYSE floor brokers. I am sure you have risen to the top spot in your area of the firm.



But you are probbably correct. Experience doesn't matter. Having seen many bear and bull markets doesn't matter.



Probabbly doesn't matter that he understands a great deal more than all of us.



Oh my what are we to do. I guess we will listen to the rookies and money managers who have never seen a bear market. That makes a lot of sense to me.

Oct 17, 2009 8:54 pm
secretknowledge:

Yeah a grissly old coot.



50 years on the floor of the NYSE. I am sure that you have seen as much in your career.



Head of all NYSE floor brokers. I am sure you have risen to the top spot in your area of the firm.



But you are probbably correct. Experience doesn't matter. Having seen many bear and bull markets doesn't matter.



Probabbly doesn't matter that he understands a great deal more than all of us.



Oh my what are we to do. I guess we will listen to the rookies and money managers who have never seen a bear market. That makes a lot of sense to me.





you know what --- great post! - it does not matter. only matters 2% as market timing is that much attributable to returns (see Brinson, Hood, Beebower 1986 study). ACTIVE asset allocation is over 90% responsible. does not matter what art says does not matter what cnbc says.

My own IRA is almost all the way back to where it was a year ago because I follow a boring asset allocation with I shares and a few good mf's and rebalance........

Art does have great lines -- "marinate ice cubes"

Oct 17, 2009 10:52 pm

Thank you ABOM. Thank you.

Oct 18, 2009 12:00 am
ABOM:
secretknowledge:

Yeah a grissly old coot.



50 years on the floor of the NYSE. I am sure that you have seen as much in your career.



Head of all NYSE floor brokers. I am sure you have risen to the top spot in your area of the firm.



But you are probbably correct. Experience doesn't matter. Having seen many bear and bull markets doesn't matter.



Probabbly doesn't matter that he understands a great deal more than all of us.



Oh my what are we to do. I guess we will listen to the rookies and money managers who have never seen a bear market. That makes a lot of sense to me.

you know what --- great post! - it does not matter. only matters 2% as market timing is that much attributable to returns (see Brinson, Hood, Beebower 1986 study). ACTIVE asset allocation is over 90% responsible. does not matter what art says does not matter what cnbc says.My own IRA is almost all the way back to where it was a year ago because I follow a boring asset allocation with I shares and a few good mf's and rebalance........Art does have great lines -- "marinate ice cubes"

Oct 18, 2009 8:50 am

As for the Brinson study, their findings about asset allocation are related to variance, not performance. The whole, "asset allocation accounts for over 90% of investment returns" is hogwash, and not within the scope of the Brinson study. Also, there is the issue of shared variance among pension fund managers. In a study of 91 pension fund managers, there is bound to be shared variance.



Not to mention, that the pension fund managers were already using broad diversification, which would automatically limit the impact of any skilled security selection.



Misuse of statistics has been rampant for years, but most especially in the 70's and 80's.



In addition, this does not take into account the mandate of pension fund managers to conservatively invest their clients funds.



The method used is sound, but the population is flawed. In addition, in order to prove effective, it needs to be conducted over several different time periods.



Did you also know that there was an academic meta-analysis that concluded that real estate, commodities and high-yield bonds add more value than stocks, (safe) bonds or mutual funds (Bekkers, Doeswijk and Lam)?



Are you going to now start adding a significant amount of gold and real estate to your clients portfolios?



Seriously. You guys talk about the sheep following CNBC, but forget about the sheep blindly following Brinson, Hood Beebower, Singer, Ibbotson or even the anti-MPT people who support Jahnke.



Keep in mind Barack Obama won a Nobel prize too.

Oct 18, 2009 10:37 am

Brokers are nothing without their clients, would love to see any broker go out and try to raise money for private equity. A guy like cashin could raise 1b in a matter or minutes.

Oct 19, 2009 12:07 pm
WFAt:

Brokers are nothing without their clients.


 

 
great insight.  thanks
Oct 19, 2009 12:54 pm

http://www.cnbc.com/id/15840232?video=1300098411&play=1


Cashin stays negative
Oct 19, 2009 12:59 pm

Where is the negative queerbait howaboutashoeshine? Thought we'd see him at the new lows.

Oct 19, 2009 8:18 pm
secretknowledge:

Yeah a grissly old coot.



50 years on the floor of the NYSE. I am sure that you have seen as much in your career.



Head of all NYSE floor brokers. I am sure you have risen to the top spot in your area of the firm.



But you are probbably correct. Experience doesn't matter. Having seen many bear and bull markets doesn't matter.



Probabbly doesn't matter that he understands a great deal more than all of us.



Oh my what are we to do. I guess we will listen to the rookies and money managers who have never seen a bear market. That makes a lot of sense to me.





all true

interesting guy

good sense of humor

have respect for him

BUT, in this case



he has been WRONG -period



been a bear from spx 667 and dow 6500



he sounds foolish





Oct 21, 2009 10:52 pm
Shania Twain:
secretknowledge:

Yeah a grissly old coot.

50 years on the floor of the NYSE. I am sure that you have seen as much in your career.

Head of all NYSE floor brokers. I am sure you have risen to the top spot in your area of the firm.

But you are probbably correct. Experience doesn't matter. Having seen many bear and bull markets doesn't matter.

Probabbly doesn't matter that he understands a great deal more than all of us.

Oh my what are we to do. I guess we will listen to the rookies and money managers who have never seen a bear market. That makes a lot of sense to me.



all true
interesting guy
good sense of humor
have respect for him
BUT, in this case

he has been WRONG -period

been a bear from spx 667 and dow 6500

he sounds foolish


 
WRONG. He wasn't a bear till S&P 950. Oh ya is was a screaming BULL through the 90's.  Rode the Nasdaq to 3,000 before he bailed. ( it went to 5,000, so I guess he was wrong again ).  In fact, he isn't even a bear now. He is on the sidelines, not short. 38 years in the biz, top of his game, survived the worst markets in history, made a fortune, he's probably way off though. I'm sure ibbotson will serve you better.