Black Edge: Inside Information, Dirty Money, and the Quest to Bring Down the Most Wanted Man on Wall Street
By Sheelah Kolhaktar
This book delves into the murkier side of trading – how people look to play the system, and what consequences befall them in the end. Many films and books have been made of people game the system, and they always tend to be an interesting read full of twists and turns, and to figure out how they get caught in the end. Also nominated for several awards, this is fit for any level of trader.
Not all books will focus on this side of trading, the seemingly darker side. This book has been classed as a “prodigious feat of reporting” by one critic and has also been listed for several award nominations.
Kolhaktar digs deep to delve into the underworld of trading and find out how some of the world’s super-rich traders have managed to defy laws and regulations for several years and sometimes decades to build up huge empires.
A lot of this comes from what is termed insider trading, and is also sometimes called the black edge, which is where this book gets its title from. The book details the journey of the FBI and investigatory bodies in the US as they try and pin down the habits of Steven Cohen, who amassed a $15billion fortune through a series of successful investments.
Although this book is unlikely to shine any new light on how an individual should be trading, it will certainly give some frank advice about how not to do it, and how to avoid falling into some of the traps that have seen the downfall of some of Wall Street’s most notorious criminal traders.
If a bit of reading around the subject is likely to provoke interest, this could prove to be a stimulating read.
Paperback: 368 pages
Publisher: Random House Trade; Reprint edition (23 Jan. 2018)