Michael Marcus (trader)

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.

Marcus learned money management laws from Ed Seykota, whom he met while working as an analyst.

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.

Marcus was briefly 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.

One of Marcus's key accomplishments during the Reagan administration was his handling of positions worth roughly 300 million Deutsche marks.

[7] and Encore Clean Energy Inc[7] Raised in Providence, Rhode Island to a Jewish household, Marcus' father was a judge and his mother was a teacher.

[1] He graduated in 1969 Phi Beta Kappa from Johns Hopkins and studied Psychology at Clark University.