Michael Marcus (trader)

From Wikipedia, the free encyclopedia
Jump to: navigation, search
For other people named Michael Marcus, see Michael Marcus (disambiguation).
Michael Marcus at his trading office.

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]

Career[edit]

Marcus began his trading career in 1972, when he bought plywood futures with his life savings of $700. 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.[citation needed] He also used Freight derivatives.

Marcus learned money management from Ed Seykota, whom he met while working as an analyst.[2] He was a founding trader of Commodities Corporation, where he was chief currency trader and hired and taught Bruce Kovner as a trader.[2][3] Marcus blamed the ending of his first marriage on his having to check the markets every two hours throughout the night.[4] 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[5] and Encore Clean Energy Inc[5] 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.[6] Marcus was described as a chartist who "keeps an eye on market penetration and resistance."

Education and personal[edit]

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[edit]

  1. ^ a b Schwartz, Martin (1999). Pit Bull. pp 22, 176, 179, 184, 190: Collins. ISBN 0-88730-956-9. 
  2. ^ a b c Weiss, Philip (2005-08-08). "George Soros’s Right-Wing Twin" (PDF). New York magazine. Retrieved 2006-08-05. 
  3. ^ "Kovner, Bruce on Forbes 400". Forbes 400 1999 (Forbes magazine). 1999-10-01. Retrieved 2006-08-06. 
  4. ^ Griffiths, Jay. "Colonising the night". Red Pepper magazine. Archived from the original on 2006-05-13. Retrieved 2006-08-06. 
  5. ^ a b "SEC edgar". SEC. 2006-08-06. Retrieved 2006-08-06. 
  6. ^ Bass, Thomas A. (2000). The Predictors. p 220: Owl Books; Reprint edition. ISBN 0-8050-5757-9. 

References[edit]

Books[edit]

Schwager, 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. 

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[edit]

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

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

External links[edit]

  1. ChartSecret.com: Lessons From Legendary Traders: Michael Marcus
  2. Curated Alpha: Curated Interview With Michael Marcus from Market Wizards