Download Black Edge: Inside Information, Dirty Money, and the Quest to Bring Down the Most Wanted Man on Wall Street AudioBook Free
New York Times Bestseller The storyplot of the billionaire investor Steven A. Cohen, the rise and street to redemption of his hedge finance, SAC Capital, and the greatest insider trading analysis in history-for readers of The Big Short, Den of Thieves, and Deep Money. The rise over the last two decades of a powerful new school of billionaire financiers signifies a singular switch in the American monetary and political landscaping. Their vast reserves of concentrated riches have allowed a small group of big winners to write their own guidelines of capitalism and general public policy. How did we get here? Through meticulous reporting and powerful storytelling, New Yorker personnel article writer Sheelah Kolhatkar shows how Steve Cohen became one of the richest & most influential figures in finance-and what occurred when the Justice Section put him in its crosshairs. Cohen and his fellow pioneers of the hedge finance industry didn't place railroads, build factories, or invent new solutions. Somewhat, they made their billions through speculation, by positioning bets in the market that ended up being right more regularly than wrong-and because of this they have gained not only extreme personal riches but formidable impact throughout culture. Hedge money now manage nearly $3 trillion in property, and competition between them is so brutal that traders will do whatever they can to get an edge. Cohen was one of the industry's most significant success stories. He mastered poker in senior high school, went off to Wharton, and in 1992 launched SAC Capital, which he included in a $15 billion empire, almost completely on the basis of his wizardlike stock trading. He cultivated an air of mystery, reclusiveness, and extreme excess, building a 35,000 square ft . mansion in Greenwich, Connecticut, and amassing one of the greatest private art collections in the world. On Wall Road, Cohen was revered as a genius. That image was shattered when SAC became the target of your sprawling, seven-year administration investigation. Labeled by prosecutors as a "magnet for market cheaters" whose culture encouraged the relentless search for "edge"-and even "black edge," or inside information-SAC was ultimately indicted regarding the a huge insider trading structure, even as Cohen himself was never billed. Black Border offers a revelatory go through the gray zone in which so a lot of Wall Road functions, and a windowpane into the transformation of the U.S. market. From the riveting, true-life legal thriller that takes readers inside the government's pursuit of Cohen and his employees, and raises immediate questions about the energy and wealth of these who stay at the pinnacle of modern Wall membrane Street.
