Dow Theory laid the groundwork for modern market analysis

The Dow Jones Industrial Average was created in the aftermath of a financial crisis

Charles Dow introduced the index in 1896, following the Panic of 1893—a severe economic downturn. The DJIA offered investors a straightforward tool to track recovery and gauge the health of America’s emerging industrial economy.

The Dow Jones & Company began as a small news service in 1882

Founded in 1882 by Charles Dow, Edward Jones and Charles Bergstresser, Dow Jones & Company started with hand-delivered market bulletins. Today it’s a global financial news giant, best known for publishing The Wall Street Journal.

The Dow’s price-weighted formula makes stock price matter more than size

Unlike most indices, which weigh companies by market value, the DJIA is price-weighted—meaning higher-priced stocks have more influence on its movements. As a result, a company’s share price matters more than its overall size.

The dot-com stock bubble taught Howard Marks about markets

Annual investment letters from Howard Marks, the billionaire cofounder of top distressed debt shop Oaktree Capital Management, are required reading on Wall Street. The prolific writer and investor explains the distinction between the folly of trying to time the market and the necessity of paying attention to market cycles. The difference makes all the difference in returns.

The stock market, explained in 3 minutes

Curious about the inner workings of the stock market? 1440's got your breakdown of how it works.

One theory suggests real estate markets follow a predictable 18-year pattern

The theory dictates that real estate markets tend to experience about 14 years of growth, including a mid-cycle dip, then experience four years of decline. Real estate experts in London discuss the theory in an article.

Hear Ray Dalio's principles for navigating a changing world order

Dalio argues that there aren't new events in history, per se, and that people are taken by surprise by events because they just haven't happened in their lifetimes—not because they are actually novel.

Learn why modern scientific patterns have been described as theories rather than laws

After confirming that the accuracy of some laws of physics is limited to certain domains, science became more hesitant to categorize identified mathematical relationships, such as quantum mechanics, as unchanging laws. Instead, these recent, complex frameworks are designated as theories to acknowledge that they are conditional and may be part of a larger, more complete future framework.

The bond market dates back to the 1100s in Venice

In the early 1800s, bonds were used to fund US railroads and canals in Great Britain. “Liberty Bonds” were sold during both World Wars in the 20th century. Learning about the early and modern history of bonds can offer a glimpse into how the modern bond market came to be.

Adam Smith’s 'The Wealth of Nations' introduced concepts like division of labor, productivity, and free markets

Published in 1776, "The Wealth of Nations" is an influential economic work that laid the foundation for modern economic theory. Smith argued for limited government intervention and touted the benefits of self-regulating markets.

Visualizing 40 years of interest rates

The history of interest rates are a proxy of macroeconomic conditions, with higher interest rates indicating periods of decline requiring artificial central stimulation. In a series of charts illustrating rates and their background conditions, you can see the movement of the economy over a forty-year period ending in 2020. Dive into the data here.

A prediction market was more accurate than most polls about the 2024 US presidential election

The idea that the median estimate of a group can be more accurate than individual expert estimates is called the "wisdom of the crowd," and dates back to the early 1900s. This theory can help explain the perceived value of prediction markets when it comes to polling and more.

Modern Monetary Theory 101

Modern Monetary Theory is a macroeconomic theory that says government spending should not be restrained by fears of rising debt. Here's a breakdown of how the theory works.

How did the bull and bear markets get their names?

The terms "bull" and "bear" are used to describe certain sentiments or activities in the financial markets. A bear market refers to declining stock prices and pessimistic outlooks, whereas a bull market represents the opposite.

The role stories play in mass economic trends like bitcoin, crashes

Economics is dominated by numbers, but stories play a huge role in the emotional shifts seen within macroeconomic trends. For example, bitcoin is not just a cost-benefit winner, but a compelling tale of decentralization and independence. This is a 20-minute summary of Nobel prize-winning economist Robert Shiller's "Narrative Economics."

While day trading has risen in popularity in recent years, the SEC warns it is a speculative strategy that can cause big losses

A day trader is anyone who buys and sells a stock within the same trading day. They quickly move in and out of the market to try and profit. Some day traders are professionals, while others are retail investors.

As technology evolved, so did Wall Street

Before the telephone was invented in the mid 1800s, people had to trade stocks in person. But once office telephones and computers became commonplace, banks and other financial institutions didn't necessarily need to have their headquarters near exchanges like Wall Street's New York Stock Exchange.

How to put on a hedge

These days, hedging your portfolio isn’t just for hedge fund managers. An explainer from Robinhood delves into what a hedged position actually is, why traders put on hedges, and how you, too, can work to guard your holdings against a market downturn. The idea is to derive gains from your portfolio when markets are trending up, down, or sideways.

Benjamin Graham is known as the 'father of value investing'

Graham was an investor, author, and professor who was also Warren Buffett's teacher and mentor during his time at Columbia University. Graham is still considered one of the most influential people in the world of investing today.

Warren Buffett's former professor Benjamin Graham is known as the 'father of value investing,' a strategy in which investors seek to buy stocks trading below their intrinsic worth.

While the first exchange-traded fund (a 'basket' of different assets that can be bought and sold on a stock exchange) in the US only launched in 1993, the global ETF market has grown to more than $10T in the short time since.

Moore's Law came from observing exponential computing growth in the 1960s

In 1965, Gordon Moore, cofounder of Intel Corporation, observed a four-year trend of constant growth rate in computing power. Hypothesizing the trend would continue, his observation became the benchmark that the computing industry has worked to maintain for 60 years.

Learn more about the four main market structures

In modern economic theory, there are four main market structures. Under each market structure, firms (or businesses) have differing levels of competition and reach different levels of price efficiency based on the consumer's willingness to pay for a product or service.

Their 1901 Wind Tunnel system revolutionized the study of aeronautics

Only the second to be built in the US, the wind tunnel allowed the brothers to study how air moves around more than 200 different wing shapes. This data helped them refine a key math equation, long held as the standard, that had been based only on one wing shape.

'Dystopia,' explained

John Stuart Mill introduced the term "dystopia" in 1868 to critique harmful policies, calling it the opposite of utopia, or an ideal world. The concept grew as industrialization and totalitarian regimes exposed societal flaws, inspiring works like George Orwell's "1984" to warn against oppression and moral decay.

The theory of plate tectonics was not initially accepted until evidence became undeniable

Alfred Wegener proposed continental drift—the movement of large landmasses—in 1912 to explain why similar rock layers, plant and animal fossils, and glacial deposits were found on continents that were then unconnected. In the early 1960s, this was combined with evidence of seafloor spreading, mantle convection in Earth's interior, and earthquake and volcanic data outlining plate boundaries to produce the accepted theory.

Early MBA curricula were influenced by a movement in ‘scientific management’

The Scientific Management movement was pioneered by Frederick Winslow Taylor in the early 1900s and posited managers should take a scientific approach to work, studying each task and system in the workplace from an objective lens. It’s still considered the backbone of modern management practices.

Chaos theory—informally known as the butterfly effect—is the reason why weather forecasts are presented with probabilities rather than certainties.

Dozens of S&P 500 stocks, including Coca-Cola and Walmart—known as the dividend aristocrats—have increased dividends every year for 25 years

Learn how to read a prospectus, the juicy document that any company must file with the SEC before going public.

The US dollar is the most widely circulated currency in the world, and is involved in nearly 90% of global transactions

A century of Billboard issues documenting the evolution of popular music.

The idea for the Federal Reserve was conceived in secret in 1910—with bankers donning duck hunt gear for disguise while traveling to a remote country club on Georgia's Jekyll Island

How Amazon operates a 'flywheel' business model, a self-reinforcing cycle that drives continuous growth

Sears sold DIY house kits starting at $600 in its famous catalog from 1908 through the 1940s, resulting in roughly 10,000 'Sears and Roebuck houses' being built.

As of 2025, the most cited papers in science include a review of graphene, methods to improve image recognition, streamlining electron density calculations, and optimizing protein studies.

The name 'Silicon Valley' arose from the founding of Shockley Semiconductor Laboratory in Fairchild Semiconductor in 1956-57, founded near Stanford University in Palo Alto

For centuries, it was common to sleep in two shifts: a few hours at the beginning of the night, and a longer period beginning around midnight

When a Paris department store hesitated to sell Estée Lauder's perfume, she 'accidentally' broke a bottle, causing the smell to spread throughout the store and shoppers to start asking to buy the scent.

The 19th-century painters of the Hudson River School were among the first American romantics, with portraits that displayed the natural beauty of the young country.

English mathematician Ada Lovelace wrote the first computer algorithm a century before computers existed and hypothesized that computing devices would one day be able to compose music—foreseeing the generative AI systems of today.

The word 'jazz' evolved from 'jasm,' 19th-century American slang for 'energy'

To reduce wrinkles in clothing, research recommends gentle wash cycles with more water and tumble drying with smaller loads and longer times.

Gerrymandering works through two techniques: cracking opposing voters across districts to dilute their power, and packing them into a few to waste their votes in lopsided majorities.

In 1945, Surrealist artist Salvador Dalí and legendary animator Walt Disney began collaborating on a short film that was not completed until 2003, years after both men had died.

According to the physics of black holes, our 4D reality may be a hologram—a projection of information coded on a 2D surface on the edge of the universe.

Use this tool to calculate the dollar value of your parental mental load, from meal planning to coordinating after-school care, then see resources that help generate solutions.

Massive blooms of microscopic plankton called dinoflagellates produce the neon blue light seen in glowing tides.

The US Constitution is widely regarded as the longest-standing written national constitution still in force—see how it has influenced rights worldwide.

The story of Dollree Mapp, whose legal challenge over her 1957 conviction for possessing "obscene material" led to a major strengthening of the Fourth Amendment