Michael Marcus

Michael Phillips Marcus was a commodities trader who, in less than 20 years, is reputed to have turned his initial $30,000 into $80 million.

Career 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.

Marcus learned money management laws from Ed Seykota, whom he met while working as an analyst. 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 and Encore Clean Energy Inc 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."

Education and personal life Raised in Providence, Rhode Island to a Jewish household, Marcus' father was a judge and his mother was a teacher.