Thursday, July 17, 2014

Big investors see cybersecurity as opportunity

Cyberattacks on U.S. businesses could be an opportunity for investors as companies spend money to upgrade their infrastructures, big-name money managers said on Wednesday at a conference geared to sharing potential blockbuster ideas.

Even U.S. Treasury Jacob Lew, speaking at the CNBC Institutional Investor Delivering Alpha conference, noted that such attacks are an immediate concern.

"Everyone in this room knows cyber intrusions are not some hypothetical event on the horizon," Lew said, calling them a threat to economic security.

That, in turn, means more companies will have to upgrade, adapt or otherwise evolve their systems to deal with the problem, investors said.

"Every business in the United States will have to spend more money to defend themselves," said Lee Ainslie, head of Maverick Capital. He feels that companies providing cybersecurity could grow.

Jim Breyer, the chief executive of Breyer Capital, also listed cybersecurity and messaging as among his most interesting focuses at the conference, as well.

read full article at Chicago Tribune


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