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Not all products or marketing materials are available at all rms.
Mutual Funds distributed by VP Distributors, LLC, member FINRA and subsidiary of Virtus Investment Partners, Inc.
6353 3-14 2014 Virtus Investment Partners, Inc.
This commentary is the opinion of Joe Terranova. Virtus Investment Partners provides this communication as a matter of general information. The opinions stated herein are those of the
author and not necessarily the opinions of Virtus, its affliates, or its subadvisers. Portfolio managers at Virtus make investment decisions in accordance with specifc client guidelines and
restrictions. As a result, client accounts may differ in strategy and composition from the information presented herein. Any facts and statistics quoted are from sources believed to be reliable,
but they may be incomplete or condensed and we do not guarantee their accuracy. This communication is not an offer or solicitation to purchase or sell any security, and it is not a research
report. Individuals should consult with a qualifed fnancial professional before making any investment decisions.
F or more information, visit Virtus.com
JOSEPHM. TERRANOVA, Chief Market Strategist, Virtus Investment Partners
J o e T errano va is c hief market strategist fo r Virtus Investment Partners, a p o sitio n he w as el evated
toin 2 0 0 9 , after having startedw ith the c o mp anyas c hief al ternatives strategist.In his c urrent
ro l e, Mr.T errano va w o rks w ith Virtusregio nalsal es teams andthe nanc ialad viso rs w hosel l
the c o mp any s investment p ro d uc ts, p ro vid ing insight intothe d o mesticandgl o b alinvesting
l and sc ap e andhas rep resentedVirtus as a key no te sp eaker fo r several nanc ialinstitutio ns.H e
is a memb er o f the Virtus Investment O versight Co mmittee.
Prio r toj o ining Virtus in 2 0 0 8 , Mr.T errano va sp ent 1 8y ears at MB FCl earing Co rp . , rising tothe p o sitio n o f
d irec to r o f trad ing fo r the c o mp anyandits sub sid iaries.In this c ap ac ity , he managedmo re than 3 0 0trad ers
andsup p o rt staff fo r MB F , o ne o f the N ewY o rk Merc antil e E x c hange s l argest rms.H is w o rk w as highl ighted
as the feature sto ryin the J une 2 0 0 4issue o f Futures m agaz ine.
Mr.T erranov a is p erhap s b est k now n f or his riskm anagem ent sk ills, honedw hile ov erseeing MBF s p rop rietary
trad ing op erations d uring som e ofthe m ost c alam itous tim es f or the U . S.m ark ets, inc lud ing the rst G ulfW ar,
the 1 9 9 8A sian C risis, 9 / 1 1 , andthe c ollap se ofA m aranth A d v isors.I n 2 0 0 3 , he w as one ofthe rst W all Street
p rof essionals to m ak e an early c all f or higher energy, natural resourc es, andc om m od ity p ric es.I n J une 2 0 0 8 ,
he c autionedinv estors to m ov e to the sid elines in c om m od ities and , in Marc h 2 0 0 9 , he enc ouragedinv estors
to ignore the glob al em b rac em ent ofp essim ism andov erw eight eq uities.Bef ore j oining MBF, Mr.T erranov a
heldp ositions at b oth Sw iss Bank ing C orp .andJ PMorgan Sec urities.
Mr.T erranov a has b een an ensem b le m em b er ofthe C N BC Fast Money f ranc hise sinc e 2 0 0 8 .He also f req uently
c ontrib utes ex c lusiv ely to C N BC s other b usiness p rogram s.He is the author of Buy High, Sell Higher ( Business
P lus, 2 0 1 2 ) , a b ookab out the newrules ofinv esting b asedon his years as a p rof essional trad er.
Mr.T erranov a is strongly c om m ittedto c haritab le c auses b ene ting c hild ren.He f ound edandf und s the 5 0 1 ( c )
South N assau R oc korganiz ation, w hic h p rov id es sp ec ializ edathleticex p erienc es f or c hild ren, andw ork s w ith
N assau C ounty to sp onsor the im p rov em ent ofb aseb all andoutd oor ic e rinkf ac ilities.I n 2 0 0 7 , he estab lished
Bossy s Bunc h, a p rogramthat rew ard s ac ad em icex c ellenc e am ong elem entary sc hool stud ents, w ith N ew
Y orkI sland ers Hall ofFam e hoc k ey p layer Mik e Bossy.I n 2 0 1 3 , he ex p and edhis c harity w orkw ith the I sland ers,
c reating andsp onsoring the C ourier ofC ourage p rogram , w hic h ac k now led ges c hild ren w ho hav e ov erc om e
hard ship s, d isab ilities, or illness.
Mr.T erranov a earneda b ac helor s d egree in nanc e f romthe P eter J .T ob in C ollege ofBusiness at St.J ohn s
U niv ersity in N ewY ork .