Absolutely true. . .but, for travel, at least in Europe, where I travel, it is a flashing beacon that shouts "TOURIST." Lets the bad guys focus on you. My solution was to look at what local men carried, and it turned out to be various types of man bags. So I bought one, and use it when I go. Carries just as much, if not more, and isn't as obvious. Grey man theory. . .

But for local walking/hiking here in the US, I do use a fanny pack with all my preps. Don't care what the neighbors think---they already (probably) think I am a bit strange. . .