Book review: Black Edge

Black Edge: Inside Information, Dirty Money, and the Quest to Bring Down the Most Wanted Man on Wall Street. (Sheelah Kolhatkar)

Stevie Cohen’s SAC Capital Advisors had delivered c. 30% returns for two decades. He was The Man, when hedge funds were still the new kings of Wall Street. Sheehan Kolhatkar has successfully woven together the tale of how the government tried (and plot reveal – failed) to put Stevie in the can. You should read this book, but you will be disgusted by: (1) How crooked some hedge fund managers (and their enablers) are; and (2) The fact the big fish got away.

The book also gives a small peek into the lifestyles of the rich and famous. The anecdote involving casino mogul Steve Wynn accidentally putting an elbow through his Picasso after he had sold it to Stevie Cohen for US$139m is particularly amusing.

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