Black Edge: Inside 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

by Sheelah Kolhatkar


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NEW YORK TIMES BESTSELLER • “An essential exposé of our times—a work that reveals the deep rot in our financial system . . . Everyone should read this book.”—David Grann, author of Killers of the Flower Moon
ONE OF THE BEST BOOKS OF THE YEAR—The New York Times and The Economist • Finalist for the New York Public Library’s Helen Bernstein Book Award for Excellence in Journalism
The hedge fund industry changed Wall Street. Its pioneers didn’t lay railroads, build factories, or invent new technologies. Rather, they made their billions through financial speculation, by placing bets in the market that turned out to be right more often than not. In hedge fund circles, Steven A. Cohen was revered as one of the greatest traders who ever lived. But that image was shattered when his fund, SAC Capital, became the target of a seven-year government investigation. Prosecutors labeled SAC a “magnet for market cheaters” whose culture encouraged the relentless pursuit of “edge”—and even “black edge,” which is inside information—and the firm was ultimately indicted and pleaded guilty to charges related to a vast insider trading scheme. Cohen, himself, however, was never charged. Black Edge is a riveting legal thriller that raises urgent questions about the power and wealth of those who sit at the pinnacle of high finance and how they have reshaped the economy.
Longlisted for the Andrew Carnegie Medal for Excellence in Nonfiction and the Financial Times and McKinsey Business Book of the Year Award
“A modern version of Moby-Dick, with wiretaps rather than harpoons.”—Jennifer Senior, The New York Times
“If you liked James B. Stewart’s Den of Thieves, Sheelah Kolhatkar’s thrilling Black Edge should be next on your reading list.”The Wall Street Journal
“Excellent.”—The Economist
“A true-life thriller with Shakespearian stakes . . . Her chilling account of a blighted industry is as mesmerizing as a human story as it is as a financial one.”Fortune
“A tour de force of groundbreaking reporting and brilliant storytelling.”—Jeffrey Toobin, New York Times bestselling author of American Heiress

Product Details

ISBN-13: 9780812985795
Publisher: Random House Publishing Group
Publication date: 01/23/2018
Edition description: Reprint
Pages: 368
Sales rank: 74,874
Product dimensions: 5.40(w) x 8.10(h) x 0.90(d)

About the Author

Sheelah Kolhatkar, a former hedge fund analyst, is a staff writer at The New Yorker, where she writes about Wall Street, Silicon Valley, and politics, among other things. She has appeared as a speaker and commentator on business and economics issues at conferences and on broadcast outlets including CNBC, Bloomberg Television, Charlie Rose, PBS NewsHour, WNYC, and NPR. Her writing has also appeared in Bloomberg Businessweek, New York, The Atlantic, The New York Times and other publications. She lives in New York City.

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Chapter 1

Excerpted from "Black Edge"
by .
Copyright © 2018 Sheelah Kolhatkar.
Excerpted by permission of Random House Publishing Group.
All rights reserved. No part of this excerpt may be reproduced or reprinted without permission in writing from the publisher.
Excerpts are provided by Dial-A-Book Inc. solely for the personal use of visitors to this web site.

Table of Contents

Prologue: The Flip ix

Part I

Chapter 1 Money, Money, Money 3

Chapter 2 What Stevie Wants, Stevie Gets 27

Chapter 3 Murderers' Row 46

Part II

Chapter 4 It's Like Gambling at Rick's 65

Chapter 5 Edgy, Proprietary Information 81

Chapter 6 Conflict of Interest 94

Chapter 7 Stuff That Legends Are Made Of 108

Part III

Chapter 8 The Informant 133

Chapter 9 The Death of Kings 156

Chapter 10 Occam's Razor 173

Chapter 11 Undefeatable 192

Chapter 12 The Whale 206

Chapter 13 Karma 219

Chapter 14 The Life Raft 232

Part IV

Chapter 15 Justice 255

Chapter 16 Judgment 268

Epilogue 287

Cast of Characters 297

Acknowledgments 303

Notes and Sources 305

Index 337

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