Black Edge

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Nominated for the FT/McKinsey Business Book of the Year and the Carnegie Medal for Excellence in Nonfiction, this work has been recognized as one of Amazon's Top 5 Business Books of 2017. It presents a gripping investigation into how billionaire financiers manipulate the system to their advantage. Central to the narrative is Steven Cohen, a Wall Street icon whose hedge fund amassed a $15 billion empire through extraordinary stock trading. Known for his lavish lifestyle, including helicopter commutes and a vast art collection, Cohen's reputation was tarnished when his firm became embroiled in an extensive FBI probe into insider trading, accused of leveraging illegal insider information—termed 'black edge'—to outperform the market. Despite SAC Capital's indictment and its guilty plea to securities and wire fraud, resulting in nearly $2 billion in fines, Cohen himself faced no charges and is set to resume public trading in January 2018. This account reveals the murky practices of Wall Street and examines the implications of wealth and power in the financial sector. With thorough reporting and compelling storytelling, it offers an insider's perspective on the government's pursuit of Cohen and his associates, prompting critical reflections on the elite's influence over the economy.