Calls
58
#37
Alpha Score 97.2
Joe Terranova
Senior Managing Director, Virtus Investment Partners
Win Rate
63.8%
return
+7.9%
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Ticker
Side
Mentions
First Call
Call Price
P&L
Thesis
Theme
Source
Long
Apr 13
$682.53
+11.6%
Market resilience due to defensive institutional positioning and neutral systematic bias sets up for further upside in the near term, so be long the market.
Equity Indexes
Long
Mar 02
$264.72
+22.7%
"It is the Mag-7 that once again are coming to the rescue... If there is ultimately an equity safe haven, those names once again prove themselves." During geopolitical uncertainty, investors are not fleeing to cash/bonds exclusively; they are treating cash-rich, dominant tech monopolies as "safe assets" to park capital, effectively using them as a proxy for safety. LONG. These stocks are acting as the market's defensive backstop. Valuation compression if yields spike significantly.
"It is the Mag-7 that once again are coming to the rescue... If there is ultimately an equity safe haven, those names once again prove themselves." During geopolitical uncertainty, investors are not fleeing to cash/bonds exclusively; they are treating cash-rich, dominant tech monopolies as "safe assets" to park capital, effectively using them as a proxy for safety. LONG. These stocks are acting as the market's defensive backstop. Valuation compression if yields spike significantly.
AI Hardware
Long
Jun 18
$53.65
+6.7%
The financials sector is making a strong comeback, recently the top-performing sector up 5.5% over the past month. Capital markets are in full swing for the first time since 2021, driven by record M&A and high-quality IPOs like SpaceX, Anthropic, and OpenAI that generate massive fees. Money is rotating out of tech into financials as a new home. The current capital markets cycle is healthier than 2021 due to the quality of companies coming public with billions in revenue.
Thematic ETFs
Long
May 05
$291.17
+1.7%
Quality factor is not being rewarded while momentum factor is strongly outperforming. He wishes his portfolio had more momentum and less quality, implying a tilt toward momentum and away from quality is appropriate in the current environment.
Equity Indexes
Long
Feb 17
$396.86
+26.3%
"Hyperscalers, the big four, they're increasing their capex by 40% year on year... They will put a tangible product in the hands of consumers." While questioning the efficiency of the spend, Terranova contrasts these firms against Apple, implying they are the ones actively building the Generative AI future and delivering tangible utility to consumers, whereas Apple is retrenching. LONG (Relative strength vs AAPL). Over-spending on CapEx without immediate ROI ("Is all this spending actually necessary?").
"Hyperscalers, the big four, they're increasing their capex by 40% year on year... They will put a tangible product in the hands of consumers." While questioning the efficiency of the spend, Terranova contrasts these firms against Apple, implying they are the ones actively building the Generative AI future and delivering tangible utility to consumers, whereas Apple is retrenching. LONG (Relative strength vs AAPL). Over-spending on CapEx without immediate ROI ("Is all this spending actually necessary?").
Hyperscalers
Long
Feb 17
$302.02
+11.7%
"Hyperscalers, the big four, they're increasing their capex by 40% year on year... They will put a tangible product in the hands of consumers." While questioning the efficiency of the spend, Terranova contrasts these firms against Apple, implying they are the ones actively building the Generative AI future and delivering tangible utility to consumers, whereas Apple is retrenching. LONG (Relative strength vs AAPL). Over-spending on CapEx without immediate ROI ("Is all this spending actually necessary?").
"Hyperscalers, the big four, they're increasing their capex by 40% year on year... They will put a tangible product in the hands of consumers." While questioning the efficiency of the spend, Terranova contrasts these firms against Apple, implying they are the ones actively building the Generative AI future and delivering tangible utility to consumers, whereas Apple is retrenching. LONG (Relative strength vs AAPL). Over-spending on CapEx without immediate ROI ("Is all this spending actually necessary?").
Hyperscalers
Long
Apr 22
$399.47
+10.6%
Semiconductor names are growth and the market currently wants growth, with revenue growth being the common denominator for names like Monolithic Power, Micron, Applied Materials, and Lam Research. The semiconductor story is the economy story, with insatiable demand.
Foundry Equipment
Long
Apr 22
$262.56
+10.3%
Semiconductor names are growth and the market currently wants growth, with revenue growth being the common denominator for names like Monolithic Power, Micron, Applied Materials, and Lam Research. The semiconductor story is the economy story, with insatiable demand.
Foundry Equipment
Long
Apr 22
$487.71
+90.4%
Semiconductor names are growth and the market currently wants growth, with revenue growth being the common denominator for names like Monolithic Power, Micron, Applied Materials, and Lam Research. The semiconductor story is the economy story, with insatiable demand.
AI Memory
Long
Apr 14
$450.31
+21.1%
The growth trade is rebuilding, which is necessary to restore risk-on sentiment, as evidenced by strong performance in gold, silver, biotech, semiconductors, and private equity names like Blackstone, Evercore, and KKR.
Thematic ETFs
Long
Apr 14
$135.35
+20.7%
The growth trade is rebuilding, which is necessary to restore risk-on sentiment, as evidenced by strong performance in gold, silver, biotech, semiconductors, and private equity names like Blackstone, Evercore, and KKR.
Thematic ETFs
Long
Mar 03
$325.13
-11.7%
"The volatility is here... Have some exposure to the financial exchanges... CBOE is the name that I am looking at currently." Financial exchanges make money on volume and trading activity. When uncertainty and volatility spike, hedging and trading volumes increase, directly boosting revenue for exchange operators. Long Exchanges as a direct play on market volatility. A return to low-volatility, range-bound markets reducing trading volumes.
"The volatility is here... Have some exposure to the financial exchanges... CBOE is the name that I am looking at currently." Financial exchanges make money on volume and trading activity. When uncertainty and volatility spike, hedging and trading volumes increase, directly boosting revenue for exchange operators. Long Exchanges as a direct play on market volatility. A return to low-volatility, range-bound markets reducing trading volumes.
Capital Markets
Long
Mar 03
$655.08
-11.9%
"I told you last week I didn't think you would buy Microsoft. I will change that... I think there's resiliency in the Mag-7. I'm seeing it reflected in Microsoft and Apple and Meta." Despite broader market jitters, large-cap tech (Mag-7) is showing relative strength and "resiliency," acting as a flight-to-quality trade within the equity market. Long for quality/resiliency. Valuation compression if rates rise significantly; rotation out of crowded tech trades.
"I told you last week I didn't think you would buy Microsoft. I will change that... I think there's resiliency in the Mag-7. I'm seeing it reflected in Microsoft and Apple and Meta." Despite broader market jitters, large-cap tech (Mag-7) is showing relative strength and "resiliency," acting as a flight-to-quality trade within the equity market. Long for quality/resiliency. Valuation compression if rates rise significantly; rotation out of crowded tech trades.
Hyperscalers
Long
Mar 03
$217.71
+66.0%
"Maintain exposure to the refiners diesel prices. They are soaring today." Terranova notes soaring diesel prices. Refiners (Valero, Marathon, Phillips 66) capture the "crack spread" (difference between crude costs and refined product prices). When diesel prices soar, refiner margins expand. Long Refiners to capture widening margins. Demand destruction if fuel prices go too high; regulatory intervention.
"Maintain exposure to the refiners diesel prices. They are soaring today." Terranova notes soaring diesel prices. Refiners (Valero, Marathon, Phillips 66) capture the "crack spread" (difference between crude costs and refined product prices). When diesel prices soar, refiner margins expand. Long Refiners to capture widening margins. Demand destruction if fuel prices go too high; regulatory intervention.
Oil & Gas
Long
Mar 02
$182.48
+19.2%
"It is the Mag-7 that once again are coming to the rescue... If there is ultimately an equity safe haven, those names once again prove themselves." During geopolitical uncertainty, investors are not fleeing to cash/bonds exclusively; they are treating cash-rich, dominant tech monopolies as "safe assets" to park capital, effectively using them as a proxy for safety. LONG. These stocks are acting as the market's defensive backstop. Valuation compression if yields spike significantly.
"It is the Mag-7 that once again are coming to the rescue... If there is ultimately an equity safe haven, those names once again prove themselves." During geopolitical uncertainty, investors are not fleeing to cash/bonds exclusively; they are treating cash-rich, dominant tech monopolies as "safe assets" to park capital, effectively using them as a proxy for safety. LONG. These stocks are acting as the market's defensive backstop. Valuation compression if yields spike significantly.
AI Compute
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Joe Terranova has 58 trade ideas tracked on Buzzberg across 58 tickers since February 2026. Win rate 64% across 58 evaluated calls, average return +7.9%. Ranked #37 on the Buzzberg Alpha leaderboard. Most covered: AAPL, SPY, XLF.
