The motivation for our publishing work goes back to 1882, on 15 Wall Street, New York. A company, founded by Charles Dow and his partners then, was producing a publication known as ‘Customers’ Afternoon Letter’, to begin circulation by 1883, delivering to readers their observations and information on the stock market. This newsletter eventually gave birth to one of the most prominent financial news and publishing business over the century.
Not so much as aspiring to be the largest financial publication of the modern finance world, what spurred our creation of the Rhythm newsletter is actually encapsulated by the following Charles Dow’s commentary in 1901.
“A person watching the tide coming in, and who wishes to know the spot which marks the high tide, sets a stick in the sand at the points reached by the incoming waves until the stick reaches a position to where the waves do not come up to it, and finally recede enough to show that the tide has turned. This method holds good in watching and determining the flood tide of the stock market. The average of [stock prices] is the peg which marks the height of the waves. The price-waves, like those of the sea, do not recede all at once from the top. The force which moves them checks the inflow gradually, and time elapses before it can be told with certainty whether high tide has been seen or not.”
While Charles Dow was referring to his Dow Jones Industrial Average, we find that the concept he illustrated underpinned much of the foundation of financial markets. In enough cases, the price performance of a stock is not entirely divorced from the health of the overall market.
Rhythm sets out to be the conduit for which we communicate our observations of general market conditions and potential opportunities we are watching. The publication will contain corners of the financial markets which garner our immediate interest, with the aim of also informing readers on market developments instrumental to identifying regime shifts. Before too long, we hope that Rhythm, powered by our analytics, will present readers with new analytical lens for monitoring the public markets landscape.