Joe Terranova is the Chief Market Strategist for Virtus Investment Partners, an asset management firm with more than $25 billion under management, based in Hartford, Conn. He was elevated into that position in June 2009. 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.
In his current role, Terranova works with Virtus’ investment management teams and the financial advisors who sell the company’s investment products, providing insight into the domestic and global investing landscape for such asset classes as Equities, Commodities, Fixed Income and Currencies.
He has represented Virtus as a keynote speaker for such financial institutions as Morgan Stanley, UBS and Merrill Lynch. In addition, Terranova is a member of the Virtus Investment Partners Investment Oversight Committee.
Prior to joining Virtus Investment Partners, Terranova spent 18 years at MBF Clearing Corp., rising to the position of Director of Trading for the company and 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. His work was highlighted as the feature story in the June 2004 issue of Futures magazine.
Terranova is perhaps best known for his risk management skills, honed while overseeing MBF’s proprietary trading operations during some of the most calamitous times for the U.S. markets, including the first Gulf War, the 1998 Asian 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 grows its business.
In 2003, Terranova was one of the first Wall Street professionals to make an early call for higher energy, natural resource and commodity prices. In June 2008 he cautioned investors to move to the sidelines in commodities. During March 2009, he encouraged investors to ignore the global “embracement of pessimism” and overweight equities.
Before joining MBF, Terranova held positions at both Swiss Banking Corp. and JP Morgan Securities.
Terranova has made frequent appearances on CNBC, Bloomberg TV, FOX, and CNN, and is quoted in a variety of financial media publications. For more than 12 years he wrote a daily energy market commentary that is widely popular within the energy industry and hedge fund community.
In 2007, along with Hockey Hall of Fame player Mike Bossy, Terranova established “Bossy’s Bunch,” a program that rewards excellence in the classroom for elementary students.
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 Nassau County, Long Island. He attended Chaminade High School in Mineola, NY.