Terranova, a series regular on CNBC's Fast Money and the Chief Market Strategist for Virtus Investment Partners, dispenses counter-intuitive advice that will help the average investor to think and to trade like the pros.
Terranova is a series regular on CNBC's Fast Money and the Chief Market Strategist for Virtus Investment Partners, a $25 billion Hartford-based asset management firm. Prior to joining Virtus, he spent 18 years at MBF Clearing Corp., where he was the director of trading and managed more than 300 traders.
One of Joe Terranova's greatest strengths is his ability to take
vast amounts of complex financial data, break the data down to its
moving parts, and then explain what it means in an
--Mark B. Fisher, founder/CEO MBF Clearing Corp, and author of The Logical Trader: Applying a Method to the Madness
Run, don't walk, to read "Chaminade" Joe Terranova's book, Buy High, Sell Higher: Why Buy-And-Hold Is Dead And Other Investing Lessons from CNBC's "The Liquidator".
About 10 days ago, Joe was nice enough to send me a copy, and I immersed myself in it last weekend.
In his book, Joe delivers a thoughtful approach in deciphering the reams of data and information an investor and/or trader needs to dissect and analyze in order to maximize one's decision making process.
What is great about Joe's book is that he is quite specific about rounding up and filtering out the noise. I particularly like his recommendations on how investors and traders can become more organized. As well, his timing ideas and methodology -- check out the chapter entitled "Know When to Enter and Exit the Market" -- are very valuable and pragmatic.
Joe's methodology is backed up by 18 years of hard-hitting and strong experience in managing risk and managing investment professionals at MBF Clearing and now as chief market analyst for Virtus Investment Partners.
On the back cover of Joe's book, "Fast Money's" The Divine Ms. F. (Karen Finerman) writes in her endorsement, "Confidence and perseverance -- tempered by humility and strength of character -- is Joe Terranova's winning combination." And throughout Buy High, Sell Higher, Joe's sensitivity to Mr. Market and to his associates comes through loud and clear.
When I finished Joe's book, I couldn't help but anticipate his next book on trading.
Read Buy High, Sell Higher and consider buying it as a holiday present for your friends who want to become more skilled in the markets.
--Doug Kass, "The New Real Money Pro"
Stock market rules have changed-and with them, so should your strategy, advises Terranova. After many years working at MBF, one of the biggest natural gas and oil trading firms in the world, and witnessing the astonishing market events of recent years, Terranova realized that the average investor needed a new plan to survive and profit in this market and that anyone prepared to do the homework and tackle the unexpected could become a better investor. While investors have been trained to look for bargains, that's not a great strategy. Blending case studies and instruction, Terranova teaches readers the basics of the new investing: keeping an investing calendar; choosing professionals for your team; avoiding the temptations of day trading; and investing in assets you believe are important. As Terranova effectively argues, the key to long-term success in any market depends on the investor's ability to recognize when the story has changed.