Big investors see cybersecurity as opportunity

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NEW YORK  – Cyberattacks . could be an opportunity for investors as companies spend money to upgrade their infrastructures, big-name money managers said Wednesday at a geared to sharing potential blockbuster ideas.

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

“Everyone this room knows cyber intrusions are some hypothetical event the horizon,” Lew said, calling them a threat to economic security.

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

“Every business the United States will have to spend 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 , as well.[eap_ad_2] 

Cybersecurity has emerged as a major question in recent years, Lew mentioning the topic comes up when he speaks foreign , as well.

Major corporations have suffered a number of high-profile breaches. Retailer Target, for example, ousted Gregg Steinhafel as chairman and chief executive in May some five months after a widespread breach provoked consumer ire.

Even billionaire investor Warren Buffett – who present at Wednesday’ conference – says he’ afraid of cyber risks.

In an interview Reuters earlier this year, Buffett said he frets about the potential for cyberattacks at Berkshire Hathaway companies, those large physical facilities such as the BNSF railroad and at utility .

“It’ something that the CEOs of companies worry about plenty,” he said in that interview. (Reuters)[eap_ad_3]