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Speaking on
CNBC's Fast Money Halftime Report, Joe Terranova said that he decided to sell
iPath S&P 500 VIX Short Term Futures TM ETNVXX from his portfolio.
He added that he bought
Texas Capital Bancshares IncTCBI because he wanted to get exposure to the energy related stocks. The company reported earnings on Thursday and Terranova thinks that it is misunderstood by the Wall Street. Banks in the oil region are getting hammered, but only 1 percent of
Texas Capital Bancshares Inc's portfolio is in the energy services and 6 percent is in the oil producers. He believes that these loans are safe because 90 percent of the oil producing companies in
Texas Capital Bancshares Inc's portfolio are hedged.
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