Michael Phillips Marcus | |
|---|---|
| Born | August 2, 1947 |
| Died | March 25, 2023 (aged 75) |
Michael Phillips Marcus [1] was a commodities trader who, in less than 20 years, is reputed to have turned his initial $30,000 into $80 million. [2]
Michael Phillips Marcus | |
|---|---|
| Born | August 2, 1947 |
| Died | March 25, 2023 (aged 75) |
Michael Phillips Marcus [1] was a commodities trader who, in less than 20 years, is reputed to have turned his initial $30,000 into $80 million. [2]
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 $7000 into $12,000. In 1973 he turned $24,000 into $64,000.[ citation needed ] He also used Freight derivatives.
Marcus learned money management laws from Ed Seykota, whom he met while working as an analyst. [3] [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] 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."
Raised in Providence, Rhode Island, Marcus was raised in a Jewish household. [1] He graduated in 1969 Phi Beta Kappa from Johns Hopkins and studied Psychology at Clark University. [3] At one time he was a devout follower of the Maharishi Mahesh Yogi. [2]
Michael had two children, Aubrey (birth name Christopher), and Will.
Michael Marcus died on March 25, 2023, in Austin, Texas. After his death, his son Aubrey talked about his life in an episode of his podcast. [7]
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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.{{cite book}}: 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, lighting Never Strikes Twice. Marketplace Books. ISBN 1-59280-285-0.
Schwager, Jack D. (1993). Market Wizards: Interviews with Top Traders. 48 pages: Collins; Reissue edition. ISBN 0-88730-610-1.{{cite book}}: CS1 maint: location (link)
"SEC profile". 2006-08-06. Retrieved 2006-08-06.