Veteran Wall Street floor trader Art Cashin was 18 at the time of the Cuban Missile Crisis. Cashin’s father died in his last year of high school, so Cashin bypassed college and made the leap to Wall Street to help support his family. The education he received there was more about street smarts than book smarts.
One day, nearing the close of the market, rumours abounded that Russia had launched missiles and the market took a dive. One of Cashin’s mentors, Jack, a man in his 60’s, had already clocked off for the day and was to be found at a nearby bar. The young Cashin raced to the bar, shouting the news that missiles might be in the sky and he’d attempted to sell the market, but failed.
The rest of the conversation went something like this:
Read the full “There is No Portfolio for Existential Risk” post.
This represents general information only. Before making any financial or investment decisions, I suggest you consult a financial adviser to take into account your personal investment objectives, financial situation and individual needs. Anyone looking to build a portfolio should seek financial advice to find out which strategy is right for them, if you are seeking financial advice then you should consider one of the best financial advisors in Australia who may be able to help you identify your goals and put in place a reliable strategy to pursue them.
