Michael Marcus (trader)

Michael Marcus is a commodities trader who, in less than 20 years, is reputed to have turned his initial $30,000 into $80 million.[1]

Michael Marcus at his trading office.

Career

Marcus began his trading career in 1972, when he bought plywood futures with his life savings of $7000. In the summer of 1972 President Richard Nixon froze prices of some commodities, but the futures contracts rallied sharply, increasing Marcus' stake from $700 into $12,000. In 1973 he turned $24,000 into $64,000. He also used Freight derivatives.

Marcus learned money management laws from Ed Seykota, whom he met while working as an analyst.[2][3] Marcus eventually became an EVP at Commodities Corporation. Marcus has recently invested in small-company stock through his holding company Canmarc Trading Co and later made private-placement investments in small OTC Bulletin Board listed companies like Prospector Consolidated Resources[4] and Encore Clean Energy Inc[4] and Pink Sheets Touchstone Resources.

ViRexx Medical Corp, a company focused on immunotherapy treatments for certain cancers, chronic hepatitis B and C, and embolotherapy treatments for tumors, announced Marcus's election to its Board of Directors at its Annual General Meeting held May 25, 2006.

Marcus was featured by Thomas A Bass, in the book The Predictors: How a Band of Maverick Physicists Used Chaos Theory to Trade Their Way to a Fortune on Wall Street.[5] Additionally, Marcus was interviewed by Jack Schwager in the book Market Wizards. Marcus was described as a chartist who "keeps an eye on market penetration and resistance."

Education and personal

He graduated in 1969 Phi Beta Kappa from Johns Hopkins and studied Psychology at Clark University.[2] At one time he was a devout follower of the Maharishi Mahesh Yogi.[1]

Notes
  1. Schwartz, Martin (1999). Pit Bull. Collins. pp. 22, 176, 179, 184, 190. ISBN 0-88730-956-9.
  2. Weiss, Philip (2005-08-08). "George Soros's Right-Wing Twin" (PDF). New York magazine.
  3. Griffiths, Jay. "Colonising the night". Red Pepper magazine. Archived from the original on 2006-05-13. Retrieved 2006-08-06.
  4. "EMAILTHATPAYS COM INC, Form DEF 14A, Filing Date May 31, 2000". secdatabase.com. Retrieved May 14, 2018.
  5. Bass, Thomas A. (2000). The Predictors. Owl Books; Reprint edition. p. 220. ISBN 0-8050-5757-9.

References

Books

Schwaager, Jack D. (1995). Technical Analysis. Wiley. ISBN 0-471-02051-6.

Banks, Ferdinand E. (2001). Global Finance and Financial Markets: A Modern Introduction. p 79: World Scientific Publishing ( Hardcover). ISBN 981-02-4326-X.CS1 maint: location (link)

Vaga, Tonis (1994). Profiting from Chaos. Mcgraw-Hill. ISBN 0-07-066786-1.

Mieg, Harald A. (2001). The Social Psychology of Expertise. LEA, Inc. p. 124. ISBN 0-8058-3750-7.

Schwager, Jack D. (2006). Market Wizards: Michael Marcus, Blighting Never Strikes Twice. Marketplace Books. ISBN 1-59280-285-0.

Further reading

Schwager, Jack D. (1993). Market Wizards: Interviews with Top Traders. 48 pages: Collins; Reissue edition. ISBN 0-88730-610-1.CS1 maint: location (link)

"SEC profile". 2006-08-06. Retrieved 2006-08-06.

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