
Black Edge
Inside Information, Dirty Money, and the Quest to Bring Down the Most Wanted Man on Wall Street
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Narrated by:
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Kaleo Griffith
About this listen
NEW YORK TIMES BESTSELLER • A riveting, true-life legal thriller about the government’s pursuit of billionaire hedge fund manager Steven Cohen and his employees at SAC Capital—a revelatory look at the power and wealth of Wall Street
ONE OF THE BEST BOOKS OF THE YEAR—The New York Times and The Economist • “An essential exposé of our times—a work that reveals the deep rot in our financial system . . . Everyone should read this book.”—David Grann, author of Killers of the Flower Moon
Steven A. Cohen changed Wall Street. He 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 financial speculation, by placing bets in the market that turned out to be right more often than not.
Cohen was revered as one of the greatest traders who ever lived. But that image was shattered when his fund, SAC Capital, became the target of a seven-year government investigation. Prosecutors labeled SAC a “magnet for market cheaters” whose culture encouraged the relentless pursuit of “edge”—and even “black edge,” which is inside information—and the firm was ultimately indicted and pleaded guilty to charges related to a vast insider trading scheme. Cohen, himself, however, was never charged.
Black Edge raises urgent and troubling questions about those who sit at the pinnacle of high finance and how they have reshaped the economy.
Finalist for the New York Public Library’s Helen Bernstein Book Award for Excellence in Journalism • Longlisted for the Andrew Carnegie Medal for Excellence in Nonfiction and the Financial Times and McKinsey Business Book of the Year Award
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Performance
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Ray Dalio does not want you to listen to this audiobook. Late last year, when the billionaire founder of Bridgewater Associates, the largest hedge fund on the planet, announced that he was stepping down from the company he started out of his apartment nearly 50 years ago, the news made headlines around the world. Dalio cultivated an aura of international admiration and fame thanks to his company’s eye-popping success, coupled with a mystique he encouraged with frequent media appearances, celebrity hobnobbing, and his bestselling book, Principles.
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Best finance book I've read in years
- By Aaron on 12-16-23
By: Rob Copeland
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Conspiracy of Fools
- A True Story
- By: Kurt Eichenwald
- Narrated by: Robertson Dean
- Length: 30 hrs and 26 mins
- Unabridged
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Say the name 'Enron' and most people believe they've heard all about the story that imperiled a presidency, destroyed a marketplace, and changed Washington and Wall Street forever. But in the hands of Kurt Eichenwald, the players we think we know and the business practices we think have been exposed are transformed into entirely new, and entirely gripping, material.
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Great Story
- By Adam M Pokorski on 06-06-06
By: Kurt Eichenwald
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The Quants
- How a New Breed of Math Whizzes Conquered Wall Street and Nearly Destroyed It
- By: Scott Patterson
- Narrated by: Mike Chamberlain
- Length: 14 hrs and 10 mins
- Unabridged
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In March 2006, the world’s richest men sipped champagne in an opulent New York hotel. They were preparing to compete in a poker tournament with million-dollar stakes. At the card table that night was Peter Muller, who managed a fabulously successful hedge fund called PDT. With him was Ken Griffin, who was the tough-as-nails head of Citadel Investment Group. There, too, were Cliff Asness, the sharp-tongued, mercurial founder of the hedge fund AQR Capital Management, and Boaz Weinstein, chess “life master” and king of the credit-default swap.
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perhaps the best book on the Quants
- By D. Littman on 04-14-10
By: Scott Patterson
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The Smartest Guys in the Room
- The Amazing Rise and Scandalous Fall of Enron
- By: Bethany McLean
- Narrated by: Dennis Boutsikaris
- Length: 22 hrs and 30 mins
- Unabridged
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The definitive volume on Enron's amazing rise and scandalous fall, from an award-winning team of Fortune investigative reporters.
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An excellent book, but with a missing chapter
- By Augustus T. White on 03-07-12
By: Bethany McLean
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The Bond King
- How One Man Made a Market, Built an Empire, and Lost It All
- By: Mary Childs
- Narrated by: Mary Childs
- Length: 11 hrs and 16 mins
- Unabridged
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Before Bill Gross was known among investors as the Bond King, he was a gambler. In 1966, a fresh college grad, he went to Vegas armed with his net worth ($200) and a knack for counting cards. Ten thousand dollars and countless casino bans later, he was hooked, so he enrolled in business school. The Bond King is the story of how that whiz kid made American finance his casino.
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Being a good writer does not make you a good narrator
- By John Mallory on 05-14-22
By: Mary Childs
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Money Men
- A Hot Startup, A Billion Dollar Fraud, A Fight for the Truth
- By: Dan McCrum
- Narrated by: Dan McCrum
- Length: 13 hrs and 3 mins
- Unabridged
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When investigative journalist Dan McCrum first came across Wirecard, the hot new tech company that looked poised to challenge Silicon Valley, it all looked a little too good to be true: offices were sprouting up all over the world, and they were reporting runaway growth. In the space of a few short years, the company had come from nowhere to overtake industry giants like Commerzbank and Deutsche Bank on the stock market. As McCrum began to dig deeper, he encountered a story stranger and more compelling than he could have imagined.
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Interesting book but…
- By Rock Climber on 06-11-23
By: Dan McCrum
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The New Tycoons
- Inside the Trillion Dollar Private Equity Industry That Owns Everything
- By: Jason Kelly
- Narrated by: Brett Barry
- Length: 8 hrs and 2 mins
- Unabridged
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The New Tycoons: Inside the Trillion Dollar Private Equity Industry That Owns Everything takes the listener behind the scenes of these firms: their famous billionaire founders, the overlapping stories of their creation and evolution, and the outsized ambitions that led a group of clever bankers from small shops operating in a corner of Wall Street into powerhouse titans of capital. This is the story of the money and the men who handle it.
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Detailed if a little dull
- By Anonymous User on 03-11-21
By: Jason Kelly
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King of Capital
- The Remarkable Rise, Fall, and Rise Again of Steve Schwarzman and Blackstone
- By: John E. Morris, David Carey
- Narrated by: George K. Wilson
- Length: 14 hrs and 42 mins
- Unabridged
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The financial establishment---banks and investment bankers, such as Citigroup, Bear Stearns, Lehman, UBS, Goldman Sachs, Merrill Lynch, and Morgan Stanley---were the cowboys, recklessly assuming risks, leveraging up to astronomical levels, and driving the economy to the brink of disaster.
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Great Story Ruined by Monotone Reading
- By Marc on 04-23-13
By: John E. Morris, and others
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When Genius Failed
- The Rise and Fall of Long-Term Capital Management
- By: Roger Lowenstein
- Narrated by: Roger Lowenstein
- Length: 9 hrs and 12 mins
- Abridged
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Roger Lowenstein, the bestselling author of Buffett, captures Long-Term's roller-coaster ride in gripping detail. Drawing on confidential internal memos and interviews with dozens of key players, Lowenstein crafts a story that reads like a first-rate thriller from beginning to end. He explains not just how the fund made and lost its money, but what it was about the personalities of Long-Term's partners, the arrogance of their mathematical certainties, and the late-nineties culture of Wall Street that made it all possible.
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When Genius Failed
- By Sean on 12-17-08
By: Roger Lowenstein
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American Kingpin
- The Epic Hunt for the Criminal Mastermind Behind the Silk Road
- By: Nick Bilton
- Narrated by: Will Damron
- Length: 12 hrs and 14 mins
- Unabridged
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In 2011, a 26-year-old libertarian programmer named Ross Ulbricht launched the ultimate free market: the Silk Road, a clandestine website hosted on the Dark Web where anyone could trade anything - drugs, hacking software, forged passports, counterfeit cash, poisons - free of the government's watchful eye. It wasn't long before the media got wind of the new website where anyone - not just teenagers and weed dealers but terrorists and black hat hackers - could buy and sell contraband detection-free.
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An honest portrait of DPR
- By Victor on 05-18-17
By: Nick Bilton
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The Informant
- A True Story
- By: Kurt Eichenwald
- Narrated by: Arthur Morey
- Length: 24 hrs and 1 min
- Unabridged
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From an award-winning New York Times investigative reporter comes an outrageous story of greed, corruption, and conspiracy, which left the FBI and Justice Department counting on the cooperation of one man.
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Great Story
- By Phil on 09-07-11
By: Kurt Eichenwald
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A Colossal Failure of Common Sense
- The Inside Story of the Collapse of Lehman Brothers
- By: Patrick Robinson, Lawrence G. McDonald
- Narrated by: Erik Davies
- Length: 16 hrs and 38 mins
- Unabridged
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One of the biggest questions of the financial crisis has not been answered until now: What happened at Lehman Brothers and why was it allowed to fail, with aftershocks that rocked the global economy? In this news-making, often astonishing book, a former Lehman Brothers Vice President gives us the straight answers - right from the belly of the beast. In A Colossal Failure of Common Sense, Larry McDonald, a Wall Street insider, reveals, the culture and unspoken rules of the game like no book has ever done.
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First take: Tale of the narcissist
- By Susan Hayden on 07-28-09
By: Patrick Robinson, and others
What listeners say about Black Edge
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- EllenEd
- 12-26-18
Interesting and detailed!
If you Follow non fiction financial crimes, this book will be a great edition to your collection. I'm always fascinated by these Wall Street types. Not that I admire them, but the back story of their lives that drives them to greed and cunning.
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- danielle
- 06-12-22
Great book
Narrator is good. Story is excellent.
Super interesting story. Hits my top genres of finance, true crime, and law. Very well done. Have listened to it about five times.
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- Daniel
- 05-05-17
Loved it
What did you love best about Black Edge?
This was Billions in real life. It was stranger than fiction. I couldn't stop listening. So many crazy characters.
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- Narada
- 05-20-17
Interesting, depressing, and raises questions
A depressing book on what a giant flaming asshole Stevie Cohen is, and what a cesspool his eponymous firm was. Also depressing in that Stevie skated on all the charges, while at least some of his minions were given serious time (Cohen did not even have to go through the indignity of a trial). This is pretty much par for the course, and echoes in some ways "the Spider Network" (a better book) - comparing the two books shows that while the US system is screwed up, it is a model of efficiency and good sense compared to the cluster **** that is the UK political and legal "system".
On the other hand, one might ask: are insider trading laws really a good idea? Many people believe they are not - all they do is muck around with the free propagation of information (which is very difficult - really impossible, since for a company like Google, literally hundreds of people know the numbers before they are out, and you can't really blame them for trying to make a buck). This does not exonerate the lawbreakers, and yet...
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- Pradeep
- 05-21-17
Absolutely outstanding
This is an absolutely outstanding piece of journalism focusing on a crucially important aspect of financial markets' trading, and today's financial information ecosystem and architecture. It is written and presented extremely well. It keeps the reader/listener continuously engaged and enthralled. It is very difficult to put the book down or stop listening at any time.
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1 person found this helpful
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- PatCos
- 09-01-17
Best book in months
If you could sum up Black Edge in three words, what would they be?
This is the best book I have listened to in months. Well written, great 'story,' great performance.
What’s the most interesting tidbit you’ve picked up from this book?
Interesting, and depressing, expo on the state of Wall Street (speaking as a conservative).
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1 person found this helpful
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- Kismiras
- 07-23-20
Gripping!
I'm a big fan of non-fiction financial crimes books, but this one has definitely stood out. I'm not sure if it's the way the author writes her story or the narrator or both, but it is a fantastic (still not quite finished) read! I've been burning through this one and so disappointed I can't find anything else she's written. Highly recommend.
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- Anonymous User
- 01-27-20
Fantastic!
This book was so fantastic, the story was fascinating and suspenseful and it was laid out beautifully
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- Jeremy
- 07-25-21
Masterful work
Thoroughly researched work which takes the complex, opaque world of insider trading and explains it in a straightforward, understandable manner. I was particularly impressed the author did not offer opinions on areas outside the scope and generally applied an unbiased analysis of each of the participants. Amazing piece of journalism. Definitely recommend.
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- Matt
- 05-17-21
One of the best books I’ve listened to in a while
One of the best books I’ve listened to in a while. So well written and so much research done here.
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