Insurance has at least two of these but if anyone thinks insurance is "safe from Amazon" you must be crazy!
Good piece though - thought provoking.
Meet BRIAN, Morgan Stanley's concoction of industry attributes that are safest from Amazon's ever-expanding reach. "We introduce a five-factor framework to help investors think about industries' susceptibility to Amazon disruption" said Brian Nowak, an equity analyst, in a note on Wednesday. "We recognize that other hurdles may emerge and that Amazon continues scaling its business and investing harder (in part to overcome some of these factors)." "That said, at a high level, we see industries' strengths/weaknesses in the following areas materially impacting the pace and potential of Amazon disruption."