Regular price: $31.50

Membership details Membership details
  • A 30-day trial plus your first audiobook, free.
  • 1 credit/month after trial – good for any book, any price.
  • Easy exchanges – swap any book you don’t love.
  • Keep your audiobooks, even if you cancel.
  • After your trial, Audible is just $14.95/month.
Select or Add a new payment method

Buy Now with 1 Credit

By confirming your purchase, you agree to Audible's Conditions of Use and Amazon's Privacy Notice. Taxes where applicable.

Buy Now for $31.50

Pay using card ending in
By confirming your purchase, you agree to Audible's Conditions of Use and Amazon's Privacy Notice. Taxes where applicable.

Add to Library for $0.00

By confirming your purchase, you agree to Audible's Conditions of Use and Amazon's Privacy Notice. Taxes where applicable.

Publisher's Summary

New York Times Bestseller
The story of the billionaire trader Steven A. Cohen, the rise and fall of his hedge fund, SAC Capital, and the largest insider trading investigation in history—for readers of The Big Short, Den of Thieves, and Dark Money.
The rise over the last two decades of a powerful new class of billionaire financiers marks a singular shift in the American economic and political landscape. Their vast reserves of concentrated wealth have allowed a small group of big winners to write their own rules of capitalism and public policy. How did we get here? Through meticulous reporting and powerful storytelling, New Yorker staff writer Sheelah Kolhatkar shows how Steve Cohen became one of the richest and most influential figures in finance—and what happened when the Justice Department put him in its crosshairs.
Cohen and his fellow pioneers of the hedge fund industry didn't lay railroads, build factories, or invent new technologies. Rather, they made their billions through speculation, by placing bets in the market that turned out to be right more often than wrong—and for this they have gained not only extreme personal wealth but formidable influence throughout society. Hedge funds now manage nearly $3 trillion in assets, and competition between them is so fierce that traders will do whatever they can to get an edge.
Cohen was one of the industry's greatest success stories. He mastered poker in high school, went off to Wharton, and in 1992 launched SAC Capital, which he built into a $15 billion empire, almost entirely on the basis of his wizardlike stock trading. He cultivated an air of mystery, reclusiveness, and extreme excess, building a 35,000 square foot mansion in Greenwich, Connecticut, and amassing one of the largest private art collections in the world. On Wall Street, Cohen was revered as a genius.
That image was shattered when SAC became the target of a sprawling, seven-year government investigation. Labeled by prosecutors as a "magnet for market cheaters" whose culture encouraged the relentless hunt for "edge"—and even "black edge," or inside information—SAC was ultimately indicted in connection with a vast insider trading scheme, even as Cohen himself was never charged.
Black Edge offers a revelatory look at the gray zone in which so much of Wall Street functions, and a window into the transformation of the U.S. economy. It's a riveting, true-life legal thriller that takes readers inside the government's pursuit of Cohen and his employees, and raises urgent questions about the power and wealth of those who sit at the pinnacle of modern Wall Street.
©2017 Sheelah Kolhatkar (P)2017 Random House Audio
Show More Show Less

Critic Reviews

"Fast-paced and filled with twists, Black Edge has the grip of a thriller. It is also an essential exposé of our times - a work that reveals the deep rot in our financial system. Everyone should read this book." (David Grann, New York Times best-selling author of The Lost City of Z)
"A tour de force of groundbreaking reporting and brilliant storytelling, a revealing inside account of how the Feds track a high-profile target - and, just as important, an unsettling portrayal of how Wall Street works today." (Jeffrey Toobin, New York Times best-selling author of American Heiress)
"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." ( Library Journal)
Show More Show Less

Customer Reviews

Most Helpful
3 out of 5 stars
By Christopher Wesdock on 05-01-17

Decent story, if at times redundant

WRITING/STORY: Good, not great. Balances the tedium of law/finance and the intrigue of white collar crime. A bit redundant, especially when revisiting concepts or using analogies.

NARRATION: Ok. Not a lot of energy put forth, but this is non-fiction, so I wasn't expecting an over-the-top performance. The narrator handled dialogue quite well.

EDIT/SOUND: Lots of missing consonants on the end of words - enough that it became distracting. Also could have used some treatment for sibilance. It's important to note that I could not listen to this title faster than 1.25x speed. It may have been the subject matter, but it took a lot more attention than most books.

Read More Hide me

4 of 4 people found this review helpful

5 out of 5 stars
By Michael S Meehan on 12-18-17

Not the ending you want to hear!

This was a captivating story. However, it left me with a sinking feeling at the end: It was like watching a two-hour movie only to see the bad guy ride off at the end with all the money; all of his henchman who had died in battle somehow come back to life and all those fighting for justice end up converting over to the dark side.

Read More Hide me

1 of 1 people found this review helpful

See all Reviews