1/12/21 Power Five

1. Millennials Are Leaving Religion and Not Coming Back – “17 percent of millennials said that they were not raised in any particular religion compared with only five percent of Baby Boomers. And fewer than one in three (32 percent) millennials say they attended weekly religious services with their family when they were young, compared with about half (49 percent) of Baby Boomers.

2. An Oral History of the World’s Biggest Coupon – “We started to realize that what customers really wanted was the darn coupon. To hell with the rest of the stuff. We organized our marketing plan to take advantage of the fact that it was a lot less expensive to send a coupon than to produce an entire catalog that had something like a 31-week lead time from a decision to having it in hand.”

3. Bryson DeChambeau is Wrecking Golf With Big Drives and Bigger Data – “In one season, he went from barely driving it farther than average to outdriving all of his competition. And then he kept hitting it even farther. He finished in the top-10 of his first four tournaments after the break, including one win. Then he won the U.S. Open.”

4. Financing the American Home“Most of all though, I don’t understand the most American of products: the 30-year fixed-rate fully prepayable mortgage. On American streets, the product is everywhere. It makes up around 80% of an $11.3 trillion mortgage market. Yet, with the exception of Denmark, it doesn’t exist anywhere else in the world. Even baseball exists in more countries…The former Governor of the Bank of England, Mervyn King, once remarked: “You Americans are so strange. Most countries have socialised healthcare and a private market in mortgages. You have socialised mortgages and a private market in healthcare.”

5. Hate Working Out? Blame Evolution – “humans can be really good at exercising for long periods of time. We’re not fast (even goats are faster), but we have endurance. We can keep running because of our ability to expel heat through sweat and just exhaust our prey. The same holds for running a marathon after swimming 2.4 miles and biking 112 miles. We may not be all that fast, but we have a singular ability to just keep going.”