Review Kolhatkar’s Black Edge: nside Information, Dirty Money, and the Quest to Bring Down the Most Wanted Man on Wall Street

Black Edge: Inside Information, Dirty Money, and the Quest to Bring Down the Most Wanted Man on Wall Street
Sheelah Kolhatkar

High brow business tell all gossip about the rise and (kinda) fall of one of the most successful hedge managers of all time, Steve Cohen of SAC Capital.

Cohen, if you don’t know, ran the legendary SAC Capital where traders were relentlessly encouraged to find “edge” i.e. information that the market didn’t have, or didn’t understand, allowing Cohen to have an advantage. Many of these traders, and the analysts who supported their work began to engage in insider trading, which was, many believed, blessed and encouraged by Cohen. When it all started to come down, a number of SAC traders and analysts went to jail, but not Cohen. He closed SAC, but kept the billion-dollar art collection and multiple mansions. The reasons why are complex, but largely have to do with money. Specifically, the piles and piles of it Cohen had. All the details are here.

Written by a New Yorker staff writer, this has everything you need – incredible sourcing, both inside the government and the hedge fund world; clear explanations of the financial shenanigans going on here; completely fascinating characters you love to hate; and writing that, while at times a bit rushed, is largely top notch. Even though I don’t work in the world of finance, my world, and that one, overlap enough for me to be fascinated. I devoured this one. If you’ve an interest in how some financiers get very very rich and why its so hard for the government to prosecute them, this is well worth the read.

 

Recommended for the enthusiast.

Advertisements

About seanv2

Scholar, gentleman, jock. I run the website Milo and the Calf. There you will find the Boston Qualifier Questionnaire where runners share their stories of qualifying for the Boston Marathon. You'll also find my thoughts on endurance sports, ancient history, Judaism, and hundreds of book reviews.
This entry was posted in Books and tagged , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s