Michael Marcus is a commodities trader who, in less than 20 years, is reputed to have turned his initial $30,000 into $80 million. Marcus met his mentor Ed Seykota while working as an analyst and learned money management from him. Later while working at Commodities Corporation and before becoming the company's executive vice president, he hired Bruce Kovner to be his assistant and taught Bruce the ins and outs of trading.
He graduated in 1969 Phi Beta Kappa from Johns Hopkins and studied Psychology at Clark University.
At one time he was a devout follower of the Maharishi Mahesh Yogi. His first wife divorced him because he spent more time trading than with her. He has a mansion with a private beach overlooking the ocean in Malibu, California and he also has a ranch near Austin, Texas. In the 1980s Marcus fell on his back and severely injured his lower back. For weeks after, he suffered chronic low back pain and discomfort in his legs, for which he was diagnosed with lumbar disc herniation and a coccyx injury; he decided against surgery and chose an alternative therapy. He claims to have found pain relief through Prolotherapy treatments and IVSAAT therapy. Delighted with the results he funded the program to build the CAM Research Institute.
Marcus began his trading career in 1972, when he took his whole life savings of $700 and bought plywood futures. In the summer of 1972 President Richard Nixon froze prices of some commodities like wood, but the futures contracts went sky high and Michael turned his $700 into $12,000. He repeated the feat in 1973, turning $24,000 into $64,000. He also used Freight derivatives.
While at Commodities Corporation he hired Bruce Kovner as a trader. As the firm's leading currency trader, Marcus had to wake up every two hours throughout the night to check the markets, which had the negative consequence of ending his first marriage. As a founding trader of the firm, Marcus rose through the ranks at Commodities Corporation eventually becoming an EVP. Marcus has recently diversified by investing 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 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.
In the words of 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 was Michael Marcus, a former trader at the New York Cotton Exchange, who went on to become one of the world's biggest currency speculators. He made a fortune in gold and another fortune in cocoa before moving into trading tanker rates and other indices in the shipping industry. He parlayed a thirty-thousand-dollar stake into an eighty-million-dollar fortune. He owned ten houses in every beautiful place in the world, many of which he had never slept in.
His wife left him, but Marcus was too busy to notice. Trading from a beachside mansion in California, he was waking up every two hours throughout the night to place three-hundred-million-dollar bets on currency markets in Australia, Hong Kong, Zurich, and London. His secret? Marcus is a chartist. He is a trend follower who keeps an eye on market penetration and resistance.
source: From Wikipedia, the free encyclopedia
Hey Michael...just remember, in the end, you can't take a dime with you!! haha
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