In his Wednesday edition of Cashin’s Comments, Art wrote the following:
Marinating With The Mavens – Last night, we had drinks and dinner and drinks with several Wall Street legends and luminaries. Among those present were David Rosenberg, Walter Murphy, Ray DeVoe and Richard Yamarone along with a few more friends and co-workers who shall remain nameless to protect the innocent.
Given the list above, you might guess that the majority of players leaned to the skeptical on the recovery and, in some cases, the rally. While that was so, opinions varied widely on a variety of topics like a possible bond bubble, the fate of the Euro, taxation burdens and government activism in the marketplace. Over the next few days, I’ll try to decipher my notes (wet napkins don’t you know). If successful, we’ll run through some of the topics. It was a great deal of fun.
As one of “the innocent,” I was both flattered and humbled to have sat with this small group of mavens, all of whom have forgotten more about the markets than I could ever hope to know. I only wish I’d stayed longer than I did and not departed prematurely.
Walter Murphy toiled alongside the legendary Bob Farrell for many, many years (I’m inclined to say 25). He now runs his own shop, Walter Murphy Global Advisors, LLC. Walter’s work is well worth checking out and, if you’re so inclined, subscribing to.