Martin “Buzzy” Schwartz is a celebrated independent trader. Schwartz graduated from Amherst College in 1967 and served in the U.S. Marine Corps Reserves from 1968-73. In 1970 he received an MBA from Columbia University.
After working for several years as a financial analyst at E. F. Hutton, Swartz left the firm and bought a seat on the American Stock Exchange and started trading stocks options and futures. In his first full year as an independent trader he made $600,000 and a year later made $1.2 million.
Schwartz was a short term trader – he rarely held on to any position for more than a day.
He began his own fund in which he would manage other people’s money as well as his own, which caused increased stress on him.
He gained notoriety in the trading world with his performances in the U.S. Trading Championships organised by Norm Zadeh of Stanford University. In nine contests, Schwartz earned more money than all other participants combined, with an average return of 210 percent, nonannualized.
Schwartz is profiled in the trading classic Market Wizards by Jack Schwager. He authored Pit Bull: Lessons from Wall Street’s Champion Day Trader.
Schwartz is a champion horse owner and currently trades independently from his Florida home.
See also: Market Gurus