For decades, Art Cashin was a well-known figure at the New York Stock Exchange, and he passed away at the age of 83.

• UBS' director of floor operations at the New York Stock Exchange, Art Cashin, was referred to as "Wall Street's version of Walter Cronkite" by The Washington Post.
• In the cutthroat and frequently hostile realm of stock market analysis, Cashin stood out as a unique individual: a man who earned the admiration of all, regardless of their political leanings or investment strategies.

UBS' director of floor operations at the New York Stock Exchange, Art Cashin, who was known as "Wall Street's version of Walter Cronkite" by The Washington Post, has passed away at the age of 83. He had been a regular on CNBC for over 25 years.

In the cutthroat and frequently hostile realm of stock market analysis, Cashin stood out as a unique individual: a man revered by all, regardless of their political leanings or investment strategies. He appeared to have no adversaries.

He was a great drinker and raconteur, a teller of stories.

For many years, he gathered a group of friends who shared his interests daily after the stock market closed, first at the NYSE luncheon club's bar and later at Bobby Van's Steakhouse. This group became known as the "Friends of Fermentation." His preferred drink was always Dewar's, served on ice.

Cashin's success was due to his combination of charm, wit, intelligence, and stubbornness in rejecting many modern conveniences. He was a symbol of an NYSE tradition. Each year, on Christmas Eve and New Year's Eve, he led the singing of the 1905 song "Wait 'Till the Sun Shines, Nellie."

Cashin eschewed credit cards and settled his bills with cash, especially his substantial bar tabs, valuing his anonymity. He never mastered computer usage - his records were handwritten and then forwarded to his assistant. For a long time, he relied on an outdated flip phone that he seldom answered.

Over the years, he had amassed a significant amount of paper on his desk, which often looked like a recycling center.

Cashin's suits were usually rumpled and his ties were always obsolete.

Over 50 years on Wall Street, he meticulously crafted a persona that reflected neither his appearance nor attitude.

Arthur D. Cashin Jr. was born in Jersey City, New Jersey, in 1941. His parents were superintendents of an apartment building. In 1959, at the age of 17 and still in high school, Cashin began his business career at Thomson McKinnon, a brokerage firm. This was due to the unexpected death of his father, which obliged him to join the workforce.

In 1964, at the age of 23, he joined the NYSE and became a partner at P.R. Herzig & Co.

At that time, the majority of trading occurred on the NYSE floor. Cashin's early recollections centered around the deafening roar of hundreds of brokers shouting at one another. He asserted that he could discern the direction of the market based on the tone of the shouting, with sellers sounding frantic and buyers sounding more relaxed. "If the tone of the noise was high, I knew the sellers were approaching. Or if it was a low rumble, it was likely that the buyers were on their way," he stated in a 2018 interview.

In the mid-1970s, Cashin, disgusted by the corruption in his hometown of Jersey City, ran for mayor. "I finished 12th out of 5 candidates," he said. "But once they found out I was honest, my chances of winning were slim."

He managed the floor operation of PaineWebber, which was later bought by UBS in 2000, on Wall Street since 1980.

Then came 2001.

Recalling the experience of escaping from Ground Zero on Sept. 11, 2001, after terrorists crashed two jetliners into the World Trade Center towers, killing more than 2,600 people in the heart of the nation's financial center, Cashin would often remember the details of that fateful day.

"The writer described a situation where many people were walking through the streets on a Tuesday, with ash, smoke, and business envelopes falling snow-like, blocking their view and breathing. However, when they met a stranger, they were invited to join the convoy and offered a spare wet cloth to breathe through as they walked. When they reached the East River, there was a volunteer group of tugboats, fishing boats, and mini-ferries that looked like the evacuation of Dunkirk. No charge or money was required, and everyone was simply asked, "May I help you?" No one got anyone's name, and no thank you cards were sent. Despite this, Americans, even New York Americans, who freely give to strangers but argue with neighbors, suddenly became one group. In the days since, as they wander back to Wall Street via new strange ways, they all internalize the survivor's quandary, feeling lucky to be alive but questioning why they were chosen."

Following the Sept. 11 attacks, Cashin served as the head of the NYSE "Fallen Heroes Fund," which distributed vast sums of money to the families of first responders who perished in the line of duty.

Despite being a well-known market historian, he was best known for his ability to tell stories about the stock market in a way that was easy to understand for everyone. He was very careful to observe both fundamental and technical trading patterns, but he never let data get in the way of explaining the market in a way that was relatable to the average person. He often spoke about the stock market as a community of people with different opinions, and in his mind, the bulls and bears would always be fighting each other, just like in a John Wayne Western. A common phrase he would use was, "The bulls are circling the wagons, trying to defend the highs."

For over 40 years, Cashin's Comments, a daily market commentary, was distributed to clients and widely read on Wall Street. The commentary always began with an analysis of a significant event that occurred on that date, followed by a brief history lesson that tied the event to the day's market events.

He was a behavioral psychologist who observed human behavior long before the term was coined. He had witnessed people panic repeatedly and had seen the consequences of impulsively selling without considering the consequences. "This indicates that individuals tend to overreact and not think things through carefully," he stated. "When you divide into two groups, those who are suspicious of events and those who immediately react, the latter group rarely performs well. On the other hand, those who are more cautious do better."

He cherished two significant passions in his existence: his family and the New York Stock Exchange. Despite the era of digital trading, the renowned NYSE trading floor persists, albeit in a diminished state. Upon its closure during the Covid outbreak, he expressed disappointment, acknowledging that it was comprehensible.

When asked about the impact of electronic trading on the trading floor, Cashin expressed a philosophical viewpoint. He reminisced about the days when traders' reputations were based on their word and lamented the loss of those times. However, he acknowledged that electronic trading had enhanced the efficiency and accuracy of trading, particularly in recordkeeping.

He will likely be best remembered for his modesty among his many friends. Despite his popularity, he appeared genuinely puzzled about it, saying, "I can't fully understand why people have an interest in Arthur Cashin."

In 2019, The Washington Post published a lengthy article about his career, comparing him to CBS newsman Cronkite. He responded by saying, "I owe an apology to Walter Cronkite."

Instead of flowers, the family kindly requests that 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.

— CNBC's Martin Steinberg contributed to this report.