Cyber Wars: Arm For The Coming Battle?
Remember the Reagan-era Star Wars threat. Well it’s nothing compared to the Cyber Wars threat were facing now.
In fact some people are calling it the equivalent of a cyber Pearl Harbor.
Since President Obama took office, the White House, Congress and other government agencies have received an average of 1.8 billion attacks a month. You read that right – billion with a b. (That's according to the website Politico.)
And attacks aren't just aimed at those ridiculously sophisticated systems that it takes a PhD to run.
Nope, these days attacks are increasingly focused on common, every day software - we're talking Adobe Acrobat, Microsoft Office and Internet Explorer.
Often times the damage is done through something called ‘malware’ or bad software, which is triggered by opening infected e-mail messages.
If you think that doesn't sound like serious crime, think again. After investigating a recent attack, security software maker McAfee found that the cyber-spies used this method to gain access to information that was highly classifed.
Once the malware is downloaded and installed, it opens a back door that allows the attacker to perform reconnaissance and gain complete control over the compromised system.
The attacker can then identify high-value targets and start to siphon off valuable data.
What's that? You don't work for Congress or the White House so it's not your problem?
That's what we thought too, but McAfee CEO Dave DeWalt tells Fast Money that these kinds of incidents are not limited to government computers. "It’s happening in all sectors both government and private."
In fact, it's probably worse in Corporate America!
Should you protect yourself with a long position in McAfee stock?
I think McAfee shares are cheap on a relative basis, says Tim Seymour. I'd take a look.
I was hesitant to advocate a long position but after hearing from Dave DeWalt I feel differently, adds Joe Terranova.
What did DeWalt say that changed Terranova’s opinion? Watch the video above and find out!
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Trader disclosure: On March 12, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Grasso Owns (TSO), (AAPL), (ABK), (ASTM), (BA), (BAC), (BGP), (C), (COST), (CSCO), (PFE), (PRST), (V), (WMT), (FAZ); Edwards Owns (ARO); Edwards Owns (BAC) For Clients; Edwards Owns (GS) For Clients; Edwards Owns (JPM) For Clients; Edwards Owns (MS) For Clients; Edwards Owns (WFC) For Clients; Nations's Firm Trades And Has Positions In S&P Options; Gordon Is Short Australian Dollar; Finerman's Firm Is Short (IYR), (IJR), (MDY), (SPY); Finerman's Firm Is Long S&P Puts; Finerman Owns (AAPL); Finerman's Firm Owns (BAC), (BAC) Leap; Finerman Owns (BAC), (BAC) Preferred; Finerman's Firm And Finerman Own (GOOG); Finerman's Firm And Finerman Own (JPM); Finerman's Firm Owns (SKS), (TJX); Finerman's Firm Is Short (USO); Finemran's Firm And Finerman Own (WFC) Preferred; Seymour Owns (AAPL), (BAC), (INTC); Strazzullo Is Short (SPY) As A Hedge; Strazzullo Owns (GLD)
For Tim Seymour
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For Joe Terranova
Terranova Works For (VRTS)
Terranova Is Chief Market Strategist Of Virtus Investment Partners, Ltd.
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