Black edge : inside information, dirty money, and the quest to bring down the most wanted man on Wall Street / Sheelah Kolhatkar.

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  • Additional Information
    • Publication Information:
      First edition.
    • Abstract:
      Summary: "Steven A. Cohen is a Wall Street legend. Born into a middle class family in a decidedly upper class suburb on Long Island, he was unpopular in high school and unlucky with girls. Then he went off to Wharton, and in 1992 launched the hedge fund SAC Capital, which grew into a $15 billion empire. He cultivated an air of mystery and reclusiveness -- at one point, owned the copyright to almost every picture taken of him -- and also of extreme excess, building a 35,000 square foot house in Greenwich, flying to work by helicopter, and amassing one of the largest private art collections in the world. But on Wall Street, he was revered as a genius: one of the greatest traders who ever lived. That public image was shattered when SAC Capital became the target of a sprawling, seven-year criminal and SEC investigation, the largest in Wall Street history, led by an undermanned but determined group of government agents, prosecutors, and investigators. Experts in finding and using "black edge" (inside information), SAC Capital was ultimately fined nearly $2 billion -- the largest penalty in history -- and shut down. But as Sheelah Kolhatkar shows, Steven Cohen was never actually put out of business. He was allowed to keep trading his own money (in 2015, he made $350 million), and can start a new hedge fund in only a few years. Though eight SAC employees were convicted or pleaded guilty to insider trading, Cohen himself walked away a free man. Black Edge is a riveting, true-life thriller that raises an urgent and troubling question: Are Wall Street titans like Steven Cohen above the law?"-- Provided by publisher.
    • Content Notes:
      Money, money, money -- What Stevie wants, Stevie gets -- Murderers' Row -- It's like gambling at Rick's -- Edgy, proprietary information -- Conflict of interest -- Stuff that legends are made of -- The informant -- The death of kings -- Occam's razor -- Undefeatable -- The whale -- Karma -- The life raft -- Justice -- Judgment.
    • Notes:
      Includes bibliographical references (pages [305]-336) and index.
    • ISBN:
      9780812995800
      0812995805
    • Accession Number:
      2016031776
    • Accession Number:
      ocn966071597
      966071597
    • Accession Number:
      fay.520962
  • Citations
    • ABNT:
      KOLHATKAR, S. Black edge : inside information, dirty money, and the quest to bring down the most wanted man on Wall Street. First edition. [s. l.]: Random House, 2017. ISBN 9780812995800. Disponível em: http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=cat05595a&AN=fay.520962. Acesso em: 4 jun. 2020.
    • AMA:
      Kolhatkar S. Black Edge : Inside Information, Dirty Money, and the Quest to Bring down the Most Wanted Man on Wall Street. First edition. Random House; 2017. http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=cat05595a&AN=fay.520962. Accessed June 4, 2020.
    • APA:
      Kolhatkar, S. (2017). Black edge : inside information, dirty money, and the quest to bring down the most wanted man on Wall Street (First edition.). Random House.
    • Chicago/Turabian: Author-Date:
      Kolhatkar, Sheelah. 2017. Black Edge : Inside Information, Dirty Money, and the Quest to Bring down the Most Wanted Man on Wall Street. First edition. Random House. http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=cat05595a&AN=fay.520962.
    • Harvard:
      Kolhatkar, S. (2017) Black edge : inside information, dirty money, and the quest to bring down the most wanted man on Wall Street. First edition. Random House. Available at: http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=cat05595a&AN=fay.520962 (Accessed: 4 June 2020).
    • Harvard: Australian:
      Kolhatkar, S 2017, Black edge : inside information, dirty money, and the quest to bring down the most wanted man on Wall Street, First edition., Random House, viewed 4 June 2020, .
    • MLA:
      Kolhatkar, Sheelah. Black Edge : Inside Information, Dirty Money, and the Quest to Bring down the Most Wanted Man on Wall Street. First edition., Random House, 2017. EBSCOhost, search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=cat05595a&AN=fay.520962.
    • Chicago/Turabian: Humanities:
      Kolhatkar, Sheelah. Black Edge : Inside Information, Dirty Money, and the Quest to Bring down the Most Wanted Man on Wall Street. First edition. Random House, 2017. http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=cat05595a&AN=fay.520962.
    • Vancouver/ICMJE:
      Kolhatkar S. Black edge : inside information, dirty money, and the quest to bring down the most wanted man on Wall Street [Internet]. First edition. Random House; 2017 [cited 2020 Jun 4]. Available from: http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=cat05595a&AN=fay.520962

Reviews

Booklist Reviews 2017 October #2

In 2013, the Wall Street hedge fund SAC Capital Advisors pleaded guilty to insider trading—the purchase or sales of stocks using "nonpublic" information—and cut a deal with the U.S. Securities & Exchange Commission to pay $1.8 billion in penalties. New Yorker staff writer and former hedge-fund analystKolhatkar ably traces the roots of the case, one of the largest of its kind in U.S. history. She follows the fascinating story of virtuoso trader and SAC Capital founder Steven A. Cohen, whose talent for making money made him one of the richest men in America. Possibly the most gripping portion of this part business, part legal drama is Kolhatkar's coverage of the case against Cohen's employee Mat Martoma, who was sentenced to nine years in prison for his role in SAC's insider trading. With close perspectives from individuals working for the FBI and SEC and a flowing, narrative style, Kolhatkar offers an utterly absorbing look at how Cohen pushed his traders to the limit—that "black edge"—and how he mostly insulated himself from the potential ramifications. This fast-paced, true-life thriller will leave readers enraptured—and troubled. Copyright 2017 Booklist Reviews.

LJ Reviews 2016 October #1

Staff writer at The New Yorker, Kolhatkar profiles Steven A. Cohen, a Wall Street stock-trading genius and man of excess who launched the hedge fund SAC Capital in 1992 and built it into a $15 billion empire. It all came tumbling down with a seven-year criminal and SEC investigation on insider trading (called using "black edge") that shuttered SAC Capital and fined it nearly $2 billion.. Copyright 2016 Library Journal.

LJ Reviews 2017 January #1

Kolhatkar's (staff writer, The New Yorker) book provides the most details about the Securities and Exchange Commision and FBI investigations into insider trading in New York in the past ten years, coming after Charles Gasparino's Circle of Friends, Anita Raghavan's The Billionaire's Apprentice, and the PBS Frontline documentary To Catch a Trader. The "black edge" of the title refers to insider information used by hedge fund traders to cheat. The subject of this book is Steven A. Cohen's former firm, SAC Capital, which pled guilty in 2013 to criminal insider trading and paid a $1.2 billion settlement. Cohen avoided personal liability. Organized chronologically, this volume starts with the FBI investigation into convicted billionaire Raj Rajaratnam. It ends in 2015 with Cohen emerging unscathed and ready to return to trading other people's money. Unlike Circle of Friends, which covers the same ground, this book benefits from Kolhatkar's access to the post-2013 criminal trials and government investigators. She notes wryly that the attorneys who pursued Cohen have moved into representing the industry, which is now more complex and successful than before. VERDICT Well-written, with pointed characterizations of the ambitious players and their motives, this book is highly recommended for readers interested in finance, crime, and politics. [See Prepub Alert, 8/26/16.]—Harry Charles, St. Louis

Copyright 2017 Library Journal.