Joe Terranova
Encyclopedia
Joe Terranova is a Capital Markets executive, investor and trader. In addition, he is financial news television personality.
In May 2008 he was signed as a CNBC
contributor and currently appears as a regular panelist on the highly rated evening program Fast Money
.
. Virtus Investment Partners is a Hartford based asset management firm with over $20 billion dollars under management. Previously, he held the position of Chief Alternatives Strategist for Virtus Investment Partners. He joined Phoenix Investment Partners - now named Virtus Investment Partners - in June 2008.
Prior to joining Phoenix, Terranova, spent 18 years at MBF Clearing Corp., rising to the position of director of trading for the company and all of its subsidiaries. In this capacity, he managed more than 300 traders and support staff for MBF, one of the New York Mercantile Exchange
’s largest firms.
During his tenure with MBF, Terranova is perhaps best known for his risk management
skills, honed while overseeing MBF’s trading operations during some of the most calamitous times for the US markets, including the first Gulf War
, the 1997 Asian Financial Crisis, 9/11, and the collapse of Amaranth Advisors
. During those times there was never a loss at MBF due to market anomalies. In fact, the firm continued to trade profitably and grow its business. In 2003, he was one of the first Wall Street
investors to publicly make a call for significantly higher energy, natural resource and commodity prices over the next five years. In June 2008 he cautioned investors to move to the sidelines in commodities. In early March 2009, Terranova said to be a buyer of the "Devilcession" S&P 500 low at 665.75 based on the world's embracement of
pessimism (the index rallied 25% over the following month).
contributor and frequent panelist for the highly rated CNBC evening program, Fast Money
. He’s been a guest on Bloomberg Television
, and CNN
, as well as quoted in a variety of financial media publications. His effort assisting MBF founder Mark B. Fisher author the book, The Logical Trader, is the first citation in the book’s acknowledgments. For more than 12 years Terranova wrote a daily energy market commentary that is widely popular within the energy industry and hedge fund
community.
In June 2004 he was the feature story in Futures Magazine
, highlighting his work with other successful traders.
Before joining MBF, Terranova held positions at both Swiss Banking Corp. and JP Morgan Securities.
player Mike Bossy
, he established “Bossy’s Bunch,” a program which sends more than 50 underprivileged and challenged children to every New York Islanders
home game. The program continues to grow in popularity and size every year.
Mr. Terranova graduated from the Peter J. Tobin College of Business at St. John’s University in 1988 with a B.S. in Finance. Raised in Valley Stream, New York an incorporated village in Nassau County
, Long Island
. He attended Chaminade High School in Mineola, NY.
In May 2008 he was signed as a CNBC
CNBC
CNBC is a satellite and cable television business news channel in the U.S., owned and operated by NBCUniversal. The network and its international spinoffs cover business headlines and provide live coverage of financial markets. The combined reach of CNBC and its siblings is 390 million viewers...
contributor and currently appears as a regular panelist on the highly rated evening program Fast Money
Fast Money (CNBC)
Fast Money is an American financial stock trading talk show that began airing on the CNBC cable/satellite TV channel on 2006-06-21. Since October 10, 2007, it has broadcast every weeknight at 5pm ET, one hour after the close of trading on the New York Stock Exchange, until mid-2011 when it was...
.
Investment career
In June 2009 he was named Chief Market Strategist for Virtus Investment PartnersVirtus Investment Partners
-History:Virtus Investment Partners, formerly known as Phoenix Investment Partners, Ltd., was formed on November 1, 1995 through a reverse merger with Duff & Phelps Investment Management Co., at the time the investment management affiliate of Duff & Phelps Corporation.From 1995 to 2001, Virtus was...
. Virtus Investment Partners is a Hartford based asset management firm with over $20 billion dollars under management. Previously, he held the position of Chief Alternatives Strategist for Virtus Investment Partners. He joined Phoenix Investment Partners - now named Virtus Investment Partners - in June 2008.
Prior to joining Phoenix, Terranova, spent 18 years at MBF Clearing Corp., rising to the position of director of trading for the company and all of its subsidiaries. In this capacity, he managed more than 300 traders and support staff for MBF, one of the New York Mercantile Exchange
New York Mercantile Exchange
The New York Mercantile Exchange is the world's largest physical commodity futures exchange. It is located at One North End Avenue in the World Financial Center in the Battery Park City section of Manhattan, New York City...
’s largest firms.
During his tenure with MBF, Terranova is perhaps best known for his risk management
Risk management
Risk management is the identification, assessment, and prioritization of risks followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events or to maximize the realization of opportunities...
skills, honed while overseeing MBF’s trading operations during some of the most calamitous times for the US markets, including the first Gulf War
Gulf War
The Persian Gulf War , commonly referred to as simply the Gulf War, was a war waged by a U.N.-authorized coalition force from 34 nations led by the United States, against Iraq in response to Iraq's invasion and annexation of Kuwait.The war is also known under other names, such as the First Gulf...
, the 1997 Asian Financial Crisis, 9/11, and the collapse of Amaranth Advisors
Amaranth Advisors
Amaranth Advisors LLC was an American investment adviser managing multi-strategy hedge fund founded by Nicholas Maounis and headquartered in Greenwich, Connecticut. The firm had up to $9 billion in assets under management and collapsed in September 2006 after losing in excess of $5 billion on...
. During those times there was never a loss at MBF due to market anomalies. In fact, the firm continued to trade profitably and grow its business. In 2003, he was one of the first Wall Street
Wall Street
Wall Street refers to the financial district of New York City, named after and centered on the eight-block-long street running from Broadway to South Street on the East River in Lower Manhattan. Over time, the term has become a metonym for the financial markets of the United States as a whole, or...
investors to publicly make a call for significantly higher energy, natural resource and commodity prices over the next five years. In June 2008 he cautioned investors to move to the sidelines in commodities. In early March 2009, Terranova said to be a buyer of the "Devilcession" S&P 500 low at 665.75 based on the world's embracement of
pessimism (the index rallied 25% over the following month).
CNBC & Beyond
Terranova is a CNBCCNBC
CNBC is a satellite and cable television business news channel in the U.S., owned and operated by NBCUniversal. The network and its international spinoffs cover business headlines and provide live coverage of financial markets. The combined reach of CNBC and its siblings is 390 million viewers...
contributor and frequent panelist for the highly rated CNBC evening program, Fast Money
Fast Money (CNBC)
Fast Money is an American financial stock trading talk show that began airing on the CNBC cable/satellite TV channel on 2006-06-21. Since October 10, 2007, it has broadcast every weeknight at 5pm ET, one hour after the close of trading on the New York Stock Exchange, until mid-2011 when it was...
. He’s been a guest on Bloomberg Television
Bloomberg Television
Bloomberg Television is a 24-hour global network broadcasting business and financial news. It is distributed globally, reaching over 200 million homes worldwide. It is owned and operated by Bloomberg L.P...
, and CNN
CNN
Cable News Network is a U.S. cable news channel founded in 1980 by Ted Turner. Upon its launch, CNN was the first channel to provide 24-hour television news coverage, and the first all-news television channel in the United States...
, as well as quoted in a variety of financial media publications. His effort assisting MBF founder Mark B. Fisher author the book, The Logical Trader, is the first citation in the book’s acknowledgments. For more than 12 years Terranova wrote a daily energy market commentary that is widely popular within the energy industry and hedge fund
Hedge fund
A hedge fund is a private pool of capital actively managed by an investment adviser. Hedge funds are only open for investment to a limited number of accredited or qualified investors who meet criteria set by regulators. These investors can be institutions, such as pension funds, university...
community.
In June 2004 he was the feature story in Futures Magazine
Futures (magazine)
Futures magazine is a U.S.-based monthly magazine about commodity futures contracts, stocks, options, derivatives, and forex.Another periodical called Futures is a journal on policy, planning and futures studies....
, highlighting his work with other successful traders.
Before joining MBF, Terranova held positions at both Swiss Banking Corp. and JP Morgan Securities.
Charity work
Terranova’s passion is his advocacy work for children with special needs. In 2006, along with Hockey Hall of FameHockey Hall of Fame
The Hockey Hall of Fame is located in Toronto, Ontario, Canada. Dedicated to the history of ice hockey, it is both a museum and a hall of fame. It holds exhibits about players, teams, National Hockey League records, memorabilia and NHL trophies, including the Stanley Cup...
player Mike Bossy
Mike Bossy
Michael Dean Bossy is a former Canadian ice hockey player who played for the New York Islanders for his entire career and was part of their four-year reign as Stanley Cup champions in the early 1980s...
, he established “Bossy’s Bunch,” a program which sends more than 50 underprivileged and challenged children to every New York Islanders
New York Islanders
The New York Islanders are a professional ice hockey team based in Uniondale, New York. They are members of the Atlantic Division of the Eastern Conference of the National Hockey League...
home game. The program continues to grow in popularity and size every year.
Mr. Terranova graduated from the Peter J. Tobin College of Business at St. John’s University in 1988 with a B.S. in Finance. Raised in Valley Stream, New York an incorporated village in Nassau County
Nassau County, New York
Nassau County is a suburban county on Long Island, east of New York City in the U.S. state of New York, within the New York Metropolitan Area. As of the 2010 census, the population was 1,339,532...
, Long Island
Long Island
Long Island is an island located in the southeast part of the U.S. state of New York, just east of Manhattan. Stretching northeast into the Atlantic Ocean, Long Island contains four counties, two of which are boroughs of New York City , and two of which are mainly suburban...
. He attended Chaminade High School in Mineola, NY.