“Your education is never fully complete and everyday we are learning something new. Sometimes if you are good, the school of life will pay your tuition,” were the inspirational words shared by Arthur D. Cashin, Jr., Wall Street icon and UBS director of floor operations at the New York Stock Exchange (NYSE), at the latest Saint Peter’s Alumni in Finance networking event.
Cashin served as the guest speaker at the event, which was held on February 6, 2013, at Bayard’s in Hanover Square, in the heart of New York’s Financial District. More than 80 alumni, current students and leaders in the finance industry, came together to network, expand professional relationships and reconnect with the University. However, the greatest draw seemed to be Cashin.
This was the first Alumni in Finance event that John Schmidt ’69 decided to attend. “I have been out of touch with Saint Peter’s and when I learned that Arthur Cashin was speaking at this event I was looking forward to attending and getting reacquainted with the University.”
It is no surprise that Cashin was such a tremendous draw. He is considered to be one of the most respected people in the world when it comes to analyzing the action in the U.S. stock market. At the NYSE, Cashin has served as a governor and member of the Market Performance Committee. He is currently one of six executive floor governors, the highest level at the NYSE. Each trading day, he provides commentary and shares his analysis of the market with CNBC viewers and his daily market commentary newsletter, Cashin’s Comments, is read internationally by clients and peers.
Beyond his professional experience, Cashin is involved in a variety of charitable activities at the NYSE. He chairs the NYSE’s Fallen Heroes Fund, which assists the families of New York City police and fireman killed in the line of duty. His humble and altruistic attitude certainly set the stage for an informative and enjoyable discussion at the event.
The topic of the discussion was, “The U.S. Economy – How We Got Here,” and Cashin provided an in-depth overview of the series of events that brought the economy into the worst financial crisis since the Great Depression. He began with the mid-nineties and the back to back series of financial shocks that led banks to flood the system with liquidity. This was followed by Y2K, the dot.com bubble, 9/11 and the mortgage crisis.
While there have been a number of circumstances that led to the economy’s current state, Cashin gave the audience some valuable advice on how to exceed in today’s marketplace, “Stick to what you understand. Just because someone tells you something is a great idea, skip the trend theory, do your homework and stick to what you know.”
Laughter filled the room as Cashin shared his favorite stories that he learned over the years. Following the discussion the audience had many questions regarding Cashin’s predictions for the future.
While Tracey Waller, a graduate student in the Saint Peter’s University business program, thoroughly enjoyed the discussion, she was also extremely pleased with the networking opportunities at the event. “It was such an unexpected surprise to see how friendly and helpful everyone at this event is. Beyond basic networking, tonight’s guests truly care about your goals for the future and how they can help you get there,” she said.
The Saint Peter’s University Alumni in Finance Network was established in 2010 and was founded by Robert A. Cutro ’75, managing director (retired) of Barclays Capital; John J. Licata ’95, chief commodity strategist of Blue Phoenix, Inc.; Justin McKeon, CPA ’97, director, corporate audit, of Pfizer, Inc.; and James G. Rizzo ’81, managing director of Dahlman Rose & Co. The host committee also includes Andres Cifuentes ’04, vice president, fixed income and commodities, of Morgan Stanley and Thomas J. Jordan ’63, president and chief executive officer of Jordan & Jordan. The network hosts multiple events each year and the attendance and membership continues to grow.
Those interested in contacting fellow alumni in the finance industry of for information on future events, can join the Saint Peter’s University Alumni in Finance Group on LinkedIn or like the Saint Peter’s University Alumni Facebook page.
To view photos from the event click here.