If You're Curious About These Questions...
You should listen to this audiobook
- What's the secret to the 'black edge,' the controversial strategy that allowed a hedge fund giant to beat the market for decades?
- Have you ever wondered how a billionaire mogul could remain legally untouchable even after his entire firm was caught in the crosshairs of a massive FBI investigation?
- Did you know that some of the most profitable trades in Wall Street history were actually fueled by a hidden network of illegal tips and corporate spies?
Listen to Black Edge — Free Audiobook
Key Takeaways from Black Edge
- Understand how Steve Cohen built his massive fortune by cultivating a 'black edge'—an unfair and illegal advantage gained through systematic insider trading.
- Discover how SAC Capital actively recruited traders with a 'fundamental edge,' specifically targeting individuals with deep industry ties to extract confidential company information.
- Learn how aggressive hedge funds manipulate the market by spreading false, negative rumors about targeted companies to profit massively when their stock prices crash.
- Uncover the shady reality of 'expert networks' on Wall Street, and how traders use paid consultations with executives to secretly gather unreleased financial data.
- Find out how SAC Capital exploited confidential medical research by using insider details about a highly anticipated Alzheimer's drug to generate $273 million in illicit profits.
Black Edge — Full Chapter Overview
Chapter 1: Recommendation
Chapter 2: Steve Cohen was a skilled trader with early success, yet he would later confront charges of insider trading.
Chapter 3: Cohen created his own firm, SAC Capital, that systematically pursued illicit insider information relentlessly.
Chapter 4: SAC confronted accusations of manipulating share prices, and a culture of chasing insider information took root.
Chapter 5: In 2008, SAC leveraged Alzheimer’s research to profit through massive insider trading schemes.
Chapter 6: By the late 2000s, U.S. regulators started honing in on insider trading across Wall Street.
Chapter 7: In 2011, SAC trader Mathew Martoma and Dr. Sidney Gilman drew the attention of U.S. federal authorities.
Chapter 8: In late 2012, Mathew Martoma was arrested, and SAC paid a record fine to settle insider trading charges brought.
Chapter 9: SAC agreed to another fine, and Martoma was sentenced to prison, yet Cohen still walked free.
Black Edge Summary & Overview
Black Edge (2017) tells the real-life tale of greed and financial crime on Wall Street during the 2000s. It describes large-scale, illegal insider trading at SAC Capital Advisors, a hedge fund founded by star investor Steve Cohen. SAC maintained a culture of trading on inside information, but while some traders at SAC were convicted of insider trading, US authorities could never stop Steve Cohen himself from making his millions – and he was never convicted of any crime.
Who Should Listen to Black Edge?
- Investors and analysts
- Lawyers and investigators
- The 99 percent who don’t benefit from Wall Street trading
Books Similar to Black Edge
Readers who enjoyed this also liked these titles.
The Wild Story of a Math Genius, a Gang of Backstabbing Bankers, and One of the Greatest Scams in Financial History
The Hidden History of the Billionaires Behind the Rise of the Radical Right
The Art of Risking Everything
The Rise and Fall of a New Tycoon