Marc Rubinstein has over 25 years experience as an analyst and investor in the financials sector whi
Waiting for the Dog to Bark
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This commentary is being provided to you as general information only and should not be taken as investment advice. The opinions expressed in these materials represent the personal views of the author(s). It is not investment research or a research recommendation, as it does not constitute substantive research or analysis. Any action that you take as a result of information contained in this document is ultimately your responsibility. Epsilon Theory will not accept liability for any loss or damage, including without limitation to any loss of profit, which may arise directly or indirectly from use of or reliance on such information. Consult your investment advisor before making any investment decisions. It must be noted, that no one can accurately predict the future of the market with certainty or guarantee future investment performance. Past performance is not a guarantee of future results. Statements in this communication are forward-looking statements. The forward-looking statements and other views expressed herein are as of the date of this publication. Actual future results or occurrences may differ significantly from those anticipated in any forward-looking statements, and there is no guarantee that any predictions will come to pass. The views expressed herein are subject to change at any time, due to numerous market and other factors. Epsilon Theory disclaims any obligation to update publicly or revise any forward-looking statements or views expressed herein. This information is neither an offer to sell nor a solicitation of any offer to buy any securities. This commentary has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. Epsilon Theory recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a financial advisor. The appropriateness of a particular investment or strategy will depend on an investor’s individual circumstances and objectives.
The historical analogue for cyberwarfare is piracy. Each can be used for simple criminal ends or as an extension of foreign policy (warfare). The U.S. stopped being a victim of piracy when it re-constituted the Navy and sailed to the Barbary Coast & Algiers and started breaking their toys. Similarly, it’s long past time for the US to take the fight to the enemy in the context of cybercrime and cyberwarfare. Overspeeding Iran’s centrifuges was useful example, but come on… There are DAILY black-hat cybercrimes happening at scale and causing enormous damage. The pirates and their foreign state sponsors are literally laughing all the way to the bank. You can’t expect them to cease unless & until we change that calculus by raising the cost of violating our sovereignty.
I thought this was a really good article, but it implied a question and unfortunately did not answer it. I have been watching and waiting for this dog (Cyber) to bark as well. Why has it not barked? We constantly have heard over the past 6 years about “Russian Hackers!” TM. I would have expected Russia to punch back in a similar non-kinetic way by now. Particularly the US attacks have affected the Russian finance and banking sectors the most so I would assume that’s where they would want to punch us back. I would think it would be particularly low hanging fruit in the narrative battle. So I’m really curious why this dog has not yet barked.