Chpt and Ldos r salepoints too cheap? and Ur Cyber security

[Centeron631]

I wondering in light of what is said in this article if the sale points we have on these 2 stocks r too low taking into account this geopolitical time and cyber war? (both have rissen hugely in last one month but we still not that much in the black at least my investment so far). Also how do U personally protect urself from waking up one day to see ur stock accounts or bank accounts missing? The protection my home insurer offers is only the costs of restoring my identity and credit rating and not the return of missing wealth.

The biggest threat to your money (not inflation)

Stephen McBride


By Stephen McBride - RiskHedge


As Russian tanks rolled into Ukraine, Russian hackers infiltrated Ukraine’s internet.

On the morning of the invasion, alarms started ringing inside Microsoft’s Threat Intelligence Center. It detected a “wiper” attack, headed straight for Ukraine’s banks—a hack that would wipe away all of the banks’ data.

Hours later, Russian hackers crippled tens of thousands of satellite modems, knocking out internet access across Ukraine… including the websites of the country’s defense ministry and army.

It was the largest attack of its kind in Ukraine’s history. And it didn’t stop there…

Data from cybersecurity firm Check Point Software shows cyberattacks on Ukraine tripled in the first week of battle.

Cybercrime is, hands down, the most overlooked threat to your money today. We all think “it’ll never happen to me.”

But as I’ll show you, we can’t ignore this threat any longer. Today, I’ll give you an actionable tip on how to deal with it. As you'll see, it could save you tens or even hundreds of thousands of dollars.

But first… have you seen cybersecurity stocks lately?

You likely know tech stocks have had a rough ride lately. Over 40% of Nasdaq stocks have been cut in half over the past few months.

But it’s a different story when you look at the largest cybersecurity stocks in the world.

Here’s $57 billion cybersecurity giant Palo Alto Networks Inc. (PANW):

Look at Leidos Holdings Inc. (LDOS), one of the US government’s largest cybersecurity contractors:

And Check Point Software Technologies (CHKP), another giant cybersecurity software company:

Most tech-related stocks have dipped into bear market territory. Yet cybersecurity stocks are at or near record highs!

I bet cybersecurity firms secretly love when news of a big hack hits the headlines. It’s like free advertising for their services, and it can juice their stock prices too.

Look at how each stock above jumped in late February as Russia launched its offensive.

It was a record-breaking year for cyberattacks.

The FBI estimates Americans lost over $4 billion to hackers last year. Port of Los Angeles Executive Director Gene Seroka recently told Bloomberg it now stops 40 million cyber threats each month.

Three of the world’s largest companies, Nvidia… Samsung… and Microsoft were hacked in the past few weeks.

These organizations spend tens of millions of dollars shoring up their cyber defenses each year. They own some of the most sophisticated networks in the world. Yet, hackers still cut into their networks like a hot knife through butter.

Two years ago, Illinois’ Bloomington School District was paying $5,000 for cyber insurance….

Its bill quadrupled to $22,000 this year. The market for insuring yourself against cyberattacks grew from nothing to $15 billion/year over the past decade.

And the cost of cyber insurance is going through the roof right now. Research from consulting firm Marsh shows US insurance premiums jumped 130% in the fourth quarter of 2021 alone.

What gives?

Cyber insurers make money when companies take out insurance and then avoid getting hacked. But everyone is getting hacked right now.

And being a victim isn’t cheap. A new report from IBM shows the average cost of a data breach jumped to a record $4.2 million last year.

When you get hacked, you have to hire expensive cybersecurity experts to find and fix the problem. And you might need to rip out and replace all your computer systems.

Victims are turning to insurers to cover the costs, who are raking up billions of dollars in losses.

Imagine if someone robbed $5 million in cash from a bank…

It would be plastered across every newspaper in the world. Yet, hackers routinely steal millions of dollars, and you never hear about it. In fact, Cybersecurity Ventures estimates cybercrime cost firms $6 trillion in 2021.

Because cyberattacks happen through a computer screen, they seem "less real" than, say, someone robbing a bank. But the consequences of being hacked are very real. Longtime RiskHedge readers who read my Florida lawyer story know a cyberattack can literally ruin your life.

Hackers can steal your money, ruin your credit, access your secrets, and devastate your reputation by assuming your identity.

Here’s my #1 piece of guidance for you…

First off, don’t think “it won’t happen to me.”

Hackers have infiltrated the most secure networks on the planet. They target millions of Americans every year. If hackers single you out... you better believe they’ll find a way in.

Call your homeowners insurance provider and ask if cyberattack coverage and identity theft is covered by your policy. If it’s not, ask if it offers it as an add-on. If you get another “no,” reach out to one of the big insurers like AXA, AIG or Chubb, which offer this service.

I’ve recommended cyber insurance to you before, and I’m pounding the table on it again. Covering yourself from hackers is more important than buying any stock I, or anyone else, will ever recommend.

Imagine spending days, probably weeks, cleaning up the mess of a cyberattack? You’d have to cancel cards, change passwords, and fight fraudulent charges.

When I first recommended taking out cyber insurance, my colleague added it to his existing plan for just $1 a month. It likely costs more today. As I said, cyber premiums are going through the roof.

Even if it costs 100 bucks a month, it’s worth having cyber insurance. It will ensure you don’t bear the brunt of the costs when hackers come knocking.

You can get an online quote from insurers, like Liberty Mutual. They’ll cover you up to $25,000 for lost wages and expenses. Like all insurance, you hope to never use it. But it might just save you tens of thousands of dollars one day.

Stephen McBride
Editor — Disruption Investor









Copyright © 2022 RiskHedge. All Rights Reserved
RiskHedge | PO Box 1423 | Stowe, VT 05672

[Triplethought]

We have a play for Chargepoint. Check Point the security company symbol is CHKP

Our play is CHPT which is electric chargers for EVs and as far as I know has nothing to do with cyber security

[Triplethought]

Although I recommend cyber insurance to businesses, I question the cost versus value for individuals. Insurance companies spend more time trying to get out of paying a claim than paying them. I'd want to know very specifically what is covered for that $1 per month (not much I bet).

The most important things you can do to protect yourself are
1) keep active backups of your computer if it has important data so you can restore if you are crypto-locked
2) If your online financial institution has 2 factor make sure to use it (ie. password plus a txt or email to your phone). Yes it's a pain but is effective. And if they do 2factor right you'll only have to do the 2 factor once.
2.b don't logon to your bank or stock account from a public Wi-Fi just to be sure. or use a vpn if you are going to.
3) Use a password manager rather than trying to use and remember the same passwords for a bunch of websites. Lastpass etc.

Cybercrime is largely one of opportunity. It's like a criminal walking down the street trying the car doors of every car to see which is unlocked. They don't care if the one that is unlocked is a Toyota or a Bently. So lock your door. Having said that, if cyber criminals DO try to target you there will be lots of social engineering and emails with links in them trying to get you to click. If you have up to date Windows and no open ports on your firewall it's pretty tough for them to hack in unless they trick you into clicking on or downloading something. Computers are cheap so maybe consider one for logging into banking and stocks and one for everything else.

[bpcw]

Although I recommend cyber insurance to businesses, I question the cost versus value for individuals. Insurance companies spend more time trying to get out of paying a claim than paying them. I'd want to know very specifically what is covered for that $1 per month (not much I bet).

The most important things you can do to protect yourself are
1) keep active backups of your computer if it has important data so you can restore if you are crypto-locked
2) If your online financial institution has 2 factor make sure to use it (ie. password plus a txt or email to your phone). Yes it's a pain but is effective. And if they do 2factor right you'll only have to do the 2 factor once.
2.b don't logon to your bank or stock account from a public Wi-Fi just to be sure. or use a vpn if you are going to.
3) Use a password manager rather than trying to use and remember the same passwords for a bunch of websites. Lastpass etc.

Cybercrime is largely one of opportunity. It's like a criminal walking down the street trying the car doors of every car to see which is unlocked. They don't care if the one that is unlocked is a Toyota or a Bently. So lock your door. Having said that, if cyber criminals DO try to target you there will be lots of social engineering and emails with links in them trying to get you to click. If you have up to date Windows and no open ports on your firewall it's pretty tough for them to hack in unless they trick you into clicking on or downloading something. Computers are cheap so maybe consider one for logging into banking and stocks and one for everything else.

Great advice TripleThought!

[stefk]

Computers are cheap so maybe consider one for logging into banking and stocks and one for everything else.

It seems to be a good idea,

[SOL]

Computers are cheap so maybe consider one for logging into banking and stocks and one for everything else.

It seems to be a good idea,

Also have a good all-around anti-virus, an anti-phishing program like Norton 360, which by the way comes with free 75Gb of remote storage. Encrypt your important files in the event the computer is stolen or a hacker by some chance gets access to your computer.

BitLocker is a good encryption program and its part of windows
https://youtu.be/1xrLHlknYvw

[harryg]

Computers are cheap so maybe consider one for logging into banking and stocks and one for everything else.

I did read this idea a while ago, if I remember correctly the advice was to have a Linux-based system on a DVD or USB stick and use it just for banking and so on. I'm not enough of an expert to know if that is necessary.

We do follow most of the other advice such as 2FA etc.

The importance of checking email links and attachments cannot be overstated.

Passwords is a real problem, we all probably have over 100. For important access, I follow some of the tips here, specifically "simple length" (explanation under the calculator): https://www.grc.com/haystack.htm

[AstuteShift]

Another option is just installing Linux

Microsoft is getting too greedy, time to cut out these clowns

[chippermon]

Another option is just installing Linux

Microsoft is getting too greedy, time to cut out these clowns

Agreed. My Linux OS of choice, at the moment, is Ubuntu and some of it's iterations, ie. Lubuntu. Also still using Mageia but it is becoming more complicated as time moves on but incredibly stable.

I have to use a Windoze computer for one piece of software I have otherwise it has burned me so many times in the past that I would just as soon forget about it.

[Centeron631]

Although I recommend cyber insurance to businesses, I question the cost versus value for individuals. Insurance companies spend more time trying to get out of paying a claim than paying them. I'd want to know very specifically what is covered for that $1 per month (not much I bet).

The most important things you can do to protect yourself are
1) keep active backups of your computer if it has important data so you can restore if you are crypto-locked
2) If your online financial institution has 2 factor make sure to use it (ie. password plus a txt or email to your phone). Yes it's a pain but is effective. And if they do 2factor right you'll only have to do the 2 factor once.
2.b don't logon to your bank or stock account from a public Wi-Fi just to be sure. or use a vpn if you are going to.
3) Use a password manager rather than trying to use and remember the same passwords for a bunch of websites. Lastpass etc.

Cybercrime is largely one of opportunity. It's like a criminal walking down the street trying the car doors of every car to see which is unlocked. They don't care if the one that is unlocked is a Toyota or a Bently. So lock your door. Having said that, if cyber criminals DO try to target you there will be lots of social engineering and emails with links in them trying to get you to click. If you have up to date Windows and no open ports on your firewall it's pretty tough for them to hack in unless they trick you into clicking on or downloading something. Computers are cheap so maybe consider one for logging into banking and stocks and one for everything else.

Thks Triple for catching my faux pas on that CH stock.

I spoke to one of my two online brokers in Canada and the dude said virtually impossible to have my holdings taken because would have to transfer the $ into a bank account with them in my name (which i do not have) and in any event a cheque from the Broker would have to be requested at the Bank in person showing my personal ID as well and would be made to just me and then only i could cash same. When i mentioned if the culprit tries to transfer in kind to their broker account red flags would come up with anything over 10K and personal contact would be made with me. How accurate this info i do not know for sure.

As to 2. this particular online broker's system which only stays on for 60 mimnutes max setting before new log in required (my other broker over 2 hours) already drives me bonkers having to on a busy day in market relog up to 4 - 5 times and this without 2 step which i agree would be good protection. Some say quite often in this Blog just change brokers but this is not without danger in itself as from my experience when doing that one's trading is frozen from the time the order is made until the transfer actually happens which can take up to 5-6 weeks AND we saw how the Markets can change on a dime as happened in early December 2021 when bullish sentiment fell 12 points so quickly that at least to me appeared that TI could not keep up with. So for now i will on this broker just change my password every 72 to 90 days (also i like this broker because i can write notes on the Alerts i use for market updates).

As to separate computer that is intriguing idea - so nothing on there but the two brokerages and three banks i have (no email addresses/system) and only downloads would be my monthly statements banking and brokerage statements and my tax documents from CRA (ur IRS) that come to the Brokerage and i download not to the cloud but onto my computer? perhaps the two-step protection would be unnecessary with this?

Im also wondering if using a different search engine just for banking/brokerage would help and to what degree (aslo with the private window) as i am doing now on this computer offers any good further protection? thanks in advance

[Triplethought]

As to separate computer that is intriguing idea - so nothing on there but the two brokerages and three banks i have (no email addresses/system) and only downloads would be my monthly statements banking and brokerage statements and my tax documents from CRA (ur IRS) that come to the Brokerage and i download not to the cloud but onto my computer? perhaps the two-step protection would be unnecessary with this?

Im also wondering if using a different search engine just for banking/brokerage would help and to what degree (aslo with the private window) as i am doing now on this computer offers any good further protection? thanks in advance

I used to laugh at the idea of 2 computers but an inexpensive one for banking and stocks makes sense (and you don't have to reboot onto a linux usb key which is a pain) If you have a lack of desk space you can use a Keyboard/monitor/mouse switch and share those so you don't have 2 of everything. Also if 1 computer acts up you have a backup. I've had clients do it for their kids because the kids always seem to get the computer into trouble. It does beg the question how far you go - do you have a 2nd printer? Do you put the 2nd computer on a different leg of the router (the dmz idea)? It can get inconvenient and expensive if you go too far. I think 2FA would still be a good idea.

I don't think the different search engine does much. The "Private browsing" is mostly for spouses not to see what you're doing on the computer and/or to leave cookies behind for lack of ad tracking. Doesn't really impact hackers much.

[Centeron631]

Thanks Triplethought and others good feed back re security. TT what is 2FA for one not so versed in the lingo?

[bpcw]

Thanks Triplethought and others good feed back re security. TT what is 2FA for one not so versed in the lingo?

Two factor authentication, so a password and then perhaps a text message to a mobile with a code to enter.

[Triplethought]

Thanks Triplethought and others good feed back re security. TT what is 2FA for one not so versed in the lingo?

Two factor authentication, so a password and then perhaps a text message to a mobile with a code to enter.

Yes. and if you have a good IT guy have them load Microsoft authenticator or similar app on your smart phone. With that app you can authenticate each application once and not have to deal with 2 factor each time. On my phone it ties to my face so I just look at the iphone to authenticate.