IT'S THE LAST OFFICIAL DAY of a New York winter that has dragged on for way too long, and Harry Poulakakos is standing outside the steakhouse he opened 42 years ago, monitoring the noonday crowds that are bundled up and hustling past on a cold, gray day.

Jim Cahill spots the restaurateur from half a block away. "You're in for a treat," he says, as we walk toward the short staircase that leads down to Harry's, a Wall Street institution and a constant for Cahill, who has worked on the fixed-income desks at firms including Salomon Brothers, Lehman Brothers and Keefe, Bruyette & Woods.

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