BLACK EDGE by SHEELAH KOLHATKAR
Cohen's name is well-known in the billionaire slashtrader circles, and his once-mighty SAC Capital, the"indestructible" hedge fund, used to be huge backin the day. But it came crashing down later, andBlack Edge follows the biggest insider tradinginvestigation ever. If you love best-sellers like TheBig Short and such, then you'll definitely appreciateSheelah Kolhatkar's wit, smarts and amazingjournalistic grip.
The previous 2 decades marked a huge shift on thepolitical/economic landscape of the United Statesand the rest of the world. The birth of a group ofridiculously-rich financiers had a great impact onthe planet's future. These enormous resourcesallowed a tiny bunch of folks to write new rules thatsuit them best and to exploit 'em to the fullest.
So, how did it come to this? Why couldn't we predictand/or prevent this? Read Black Edge and you'll findout! Kolhatkar's meticulous research shows exactlyhow Mr. Cohen turned into one of the wealthiestand dirtiest men in modern-day finance. However, when the JD (Justice Department) finally caught upto him, there was not much he or anybody else could do. This fella and his "buddies" never builtanything in their lives or invented new tech.
No, they made their fortune on speculation and insane bets that made them rich. Yes, they could justas easily fail, but they were lucky, in a way. And now they're not only stupid rich, but also have a hugeinfluence over society. Today, hedge funds are operating with +/- 3 trillion (!) in assets, and the rushfor money makes the traders do unthinkable things just to get to the top of their game. Black Edge isa gold-mine for all those folks that want to learn how Wall Street works and who the key players are.
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