Last Updated on 7 September, 2021 by Samuelsson
Michael Marcus is a commodity trader reputed to have turned his initial capital of $30,000 into $80 million in less than 20 years.
He grew up in Providence, Rhode Island. He was a graduate of the John Hopkins and studied Psychology at Clark University. At a specific time, Mark was an acolyte of Maharishi Mahesh Yogi.
He began his trading career in 1972, trading plywood futures with his life savings of $7000.
In the summer of the same year, then-president Nixon put a hang on the price of some commodities, but the futures market didn’t budge. Instead, it rallied, making Marcus a fair $12,000 from his initial $7000. A year later, he turned $24,000 into $64,000.
Marcus was mentored by Ed Seykota, who taught him money management. He met Seykota while he was working as an analyst.
In an interview on Market Wizards, he said, “He is a genius and a great trader who has been phenomenally successful. When I first met Ed, he had recently graduated from MIT and had developed one of the first computer programs for testing and trading technical systems. I still don’t know how Ed amassed so much knowledge about trading at such an early age. Ed told me, I think you ought to work here. We are starting a research group, and you can trade your account. It sounded great; the only problem was that the firm’s research director refused to hire me.” Marcus later became EVP at a commodities corporation. He recently invested in a start-up company stock through the holding company he founded, Canmarc Trading Co.
In describing his trading approach, Marcus described thus: “In the final analysis, you need to have the courage to hold the position and take the risk. You need to be aware that the world is very sophisticated and always ask yourself: ‘How many people are left to act on this particular idea?’ You have to consider whether the market has already discounted your idea.”
“I look for confirmation from the chart, the fundamentals, and the market action. I think you can trade anything in the world that way.”
Mark has made private investment in small OTC Bulletin Board listed companies, including Encore Clean Energy Inc., Prospector Consolidated Resources, and Pink Sheets Touchstone Resources.
On May 25 of 2006, Marcus was elected to the Board of directors at the Annual General Meeting of ViRexx Medical Corp, a medical company specializing in immunotherapy treatments for certain cancers, embolotherapy treatments for tumors, and hepatitis B and C.
He has been featured in Thomas A. Bass’ book, “Predictors: How a Band of Maverick Physicists Used Chaos Theory to Trade Their Way to a Fortune on Wall Street.” Also, Mark has been interviewed by Jack Schwager in the Market Wizards, where he was described as a chartist who “keeps an eye on market entry and resistance.”
He has been considered one of the most successful traders. Mark has, over ten years, made an outstanding trading profit for his company 2,500 fold!
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