Art Cashin: How Today's Market Is Like Dot-Com Bubble


The stock rally could have legs after a line of better-than-expected Q3 earnings reports, but Art Cashin, head of floor operations at UBS, said he isn't convinced.

"The banquet looks stupendous, I hear the wine is great," he said. "You guys can party on, but some of us are going to sit on the sideline like wallflowers."

Cashin said he doesn't think the economy is moving as much as data shows, and he's worried there are billions of dollars in excess reserves from people not borrowing.

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