1. 感謝Joe大指導∼
2. 以下這段寫得不錯，從AT&T can buy Time Warner這個判例可看出，垂直併購似乎較不受antitrust限制，VZ後續是否會併購media，就讓我們看下去吧∼
3. Verizon? Go right ahead. Charter? You, too. Amazon and other tech companies with billions to burn? Go for it.
   That’s the message from a federal judge, who has ruled today that AT&T can buy Time Warner — and, crucially, didn’t apply any restrictions to his decision.
   That clears the way for other “vertical” mergers, which means other people who control distribution — cable guys, telco guys, tech guys — can buy content guys.https://www.recode.net/2018/6/12/17454780/att-time-warner-court-decision-read-full-media
   

1. UTHR這個想超過3秒，可能要有點相關背景才能確認，不知duwa桑是否了解？
2. UFS的ROE起起伏伏，一樣是紙業，IP更好
3. ETN這個想超過3秒

1. aiwheat桑，讚喔！
2. 其實這檔我前天晚上有看到，港覺還不錯，不知是否是想睡了沒繼續挖下去...
3. ALL好在property liability佔86%https://www.rocketfinancial.com/Overview.aspx?fID=4941&pw=163011
4. Allstate is the largest public property-casualty insurance company in the U.S., offering auto, homeowners, business, life, and other types of insurance. Allstate serves approximately 16 million households and currently has 78 million policies in force.
   Like Progressive, Allstate operates at a strong underwriting profit -- its combined ratio is 95.2 through the first three quarters of 2017, despite nearly $2 billion of catastrophic losses due mainly to the active hurricane season. And the company has earned nice investment returns (4.9% year to date), but they have also been depressed because of low interest rates.https://www.fool.com/investing/2018/01/25/3-top-insurance-stocks-to-consider-buying-now.aspx
   
5. The auto insurance market in the U.S. is dominated by a few key players. In fact, the top ten auto insurance companies control more than 70% of the market. While the top ten insurance companies underwrite a large number of policies, they have very distinct characteristics. To help you choose the best insurance company for your situation, we created a list of the top ten largest auto insurance companies in the U.S. and discuss what makes each of them unique.
6. 看到market share就知道僅有PGR跟ALL可買，PGR真的不錯但太貴。
7. 
   
8. Allstate estimates May catastrophe losses $278M pretax, up from April.https://seekingalpha.com/news/3365498-allstate-estimates-may-catastrophe-losses-278m-pretax-april

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