To my knowledge, this hasn’t gotten any media attention, but it’s an interesting fact that the Wells Fargo loan portfolio currently has a higher nonpayment rate than the Bank of America loan portfolio. Wells Fargo isn’t collecting payments from 1.40% of its loan portfolio, and Bank of America isn’t collecting payments from 1.21% of its portfolio. I call it an interesting fact rather than important data point because things like interest rates across the portfolio and the amount of capital available have much greater weight in determining whether a bank stock is a sound candidate for investment, but I mention it because it is important to be aware of when the headlines do not match the actual numbers.
In February, Business Insider published an article titled “Millennials Aren’t Eating Cereal Because It’s Too Much Work.” The tongue-in-cheek title had some data points to consider. American cereal sales are down over 30% in the past fifteen years, turning from an industry that sold almost $14 billion worth of cereal to a bit over $10 billion worth of cereal. Affluent customers have come to disfavor industrial processed grains, and the basis for the headline is a 2015 Mintel survey in which 40% of millennials said they didn’t eat cereal because it’s too much work.