Biography of Michael Marcus : Commodities Trader
Biography of Michael Marcus :
Early Life and Education
Michael Phillips Marcus was born on August 2, 1947, in
Providence, Rhode Island, into a Jewish family. His father was a judge, and his
mother was a teacher. Marcus graduated Phi Beta Kappa from Johns Hopkins
University in 1969 and briefly studied psychology at Clark University. During
his early adulthood, he was a devoted follower of the Maharishi Mahesh Yogi,
reflecting his spiritual interests.
Career Beginnings
In 1972, Marcus began his trading career by investing his
life savings of $7,000 in plywood futures. His timing proved fortuitous when
President Richard Nixon implemented a freeze on commodity prices later that
year. Despite this, plywood futures saw a significant rally, increasing Marcus'
stake to $12,000, marking a promising start to his career.
Early Success and Growth
By 1973, Marcus had further demonstrated his trading acumen
by turning an initial $24,000 investment into $64,000. His success was
characterized by shrewd decision-making and strategic investments in futures
contracts, positioning him as a rising star in the commodities trading world.
Mentorship and Career Growth
During his early career, Marcus learned crucial money
management principles from Ed Seykota, whom he met while working as an analyst.
Seykota's mentorship played a pivotal role in shaping Marcus's approach to
trading and investment strategies.
Executive Role at Commodities Corporation
Marcus's career trajectory soared, leading him to become an
Executive Vice President at Commodities Corporation. This position marked a
significant milestone in his professional journey within the commodities
trading industry.
Ventures into Investment
Marcus diversified his investment portfolio by venturing
into small-company stocks through his holding company, Canmarc Trading Co. He
further expanded his investment horizon by making private-placement investments
in small companies listed on platforms like the OTC Bulletin Board and Pink
Sheets, such as Prospector Consolidated Resources and Encore Clean Energy Inc.
Board of Directors Appointment
In recognition of his expertise, Marcus was elected to the
Board of Directors of ViRexx Medical Corp, a company specializing in
immunotherapy treatments for cancers, chronic hepatitis B and C, and tumor
embolotherapy. His appointment underscored his reputation and influence in the
healthcare sector.
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Literary and Media Mention
Marcus was featured in Thomas A. Bass's book "The
Predictors," which briefly highlighted his trading style as a chartist
focused on market penetration and resistance levels. Additionally, he was
interviewed by Jack Schwager for his renowned book "Market Wizards,"
where his insights into trading strategies were shared with a broader audience.
Later Years and Challenges
Despite his remarkable success in trading during the late
1970s and early 1980s, Marcus faced challenges as trading technology evolved
with the introduction of modern computers around the turn of the century. This
technological shift affected his trading strategies, leading to a decline in
his performance. Subsequently, Marcus experienced deep depression, which was
exacerbated by his discovery of a book suggesting the concept of receiving
guidance through voices for investment decisions. Initially unsuccessful,
Marcus's persistence led him to claim he could hear these voices, which
unfortunately resulted in detrimental investment decisions and a downward
spiral in his life. This prolonged psychosis eventually led to multiple
institutionalizations in his later years. For the last twelve years of his
life, Marcus lived as a recluse, isolated from his family, marking a
significant deterioration in his mental health that tragically led to his
passing on March 25, 2023, in Austin, Texas.
Investment Philosophy
Marcus outlined his trading philosophy, emphasizing the
importance of courage and risk-taking in holding positions. He stressed the
need for awareness of market sophistication and evaluating whether an idea has
already been priced in by the market. Marcus relied on chart analysis,
fundamental indicators, and market behavior to validate his trading decisions,
believing this approach could be applied universally across various asset
classes.
Diversified Investments
Outside his mainstream career, Marcus diversified his
investments by backing small companies listed on platforms like the OTC
Bulletin Board and Pink Sheets. Notable investments include Encore Clean Energy
Inc., Prospector Consolidated Resources, and Touchstone Resources.
Conclusion: A Legacy of Trading Excellence
Michael Marcus's story is a testament to the transformative power of determination and insight in the world of trading. From his humble beginnings and a fortuitous introduction to commodities trading, Marcus navigated challenges with resilience and intellect, ultimately achieving unparalleled success. His legacy resonates not only for his financial acumen but also for his pioneering strategies that continue to inspire traders worldwide. Michael Marcus leaves behind a legacy of trading excellence, reminding us of the boundless potential within dedicated individuals to shape and excel in the dynamic landscape of global markets.
