Joseph M. Terranova is a senior managing director for Virtus Investment Partners, an asset management firm with more than $90.3 billion under management and listed on the Nasdaq exchange under the ticker symbol VRTS.
Terranova was elevated into that position in May 2014. 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.
Prior to joining Virtus Investment Partners in 2008, 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.
With a strong commitment to charitable work, Terranova created the 501c.3 South Nassau Rock organization. He also 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. He is the author of "Buy High, Sell Higher."
What does Joe Terranova do when he's not investing? Here's a look in our Halftime Report "Trade Off."
Jon Najarian, one of the leaders of CNBC's "Halftime Portfolio" competition, bought shares of an aircraft manufacturer on unusual activity.
Jim Lebenthal, one of the leaders of CNBC's "Halftime Report" model portfolio competition, bought shares of two household names he believes are oversold.
"Halftime Report" traders Joe Terranova and Jim Lebenthal made a number of trades for their CNBC PRO model portfolios Tuesday.