Black Edge

Sheelah Kolhatkar

Steve Cohen’s meteoric rise from a junior trader to a Wall Street powerhouse was marked by the founding of SAC Capital Advisors in 1992, which rapidly grew from $23 million to over $1 billion in assets by 1999. Initially thriving on short-term stock speculation, SAC later shifted to leveraging insider information as regulatory scrutiny on hedge funds remained lax. However, by 2009, the FBI and SEC launched investigations into SAC’s practices, targeting Cohen through a methodical approach involving junior analysts. Key breakthroughs included insider trading evidence tied to Jonathan Hollander and Mike Steinberg, though Cohen’s legal safeguards complicated direct accusations. SAC paid historic fines totaling $2.4 billion, yet Cohen avoided conviction, rebranded his firm as Point72 Asset Management, and continued to amass wealth, earning $2.5 billion in 2014 alone. Despite suspicions and penalties, Cohen’s resilience and strategic maneuvers solidified his status as one of Wall Street’s most enigmatic figures.

12 min

8 Bite

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De quoi s'agit-il ?

Steve Cohen’s rise from a junior trader to one of Wall Street’s most influential figures is a story of ambition, strategy, and controversy. This book delves into the meteoric growth of SAC Capital Advisors, exploring the high-stakes world of hedge funds, insider trading, and the relentless pursuit of financial dominance. With a sharp focus on Cohen’s methods and the investigations that followed, it offers a gripping look at the intersection of power, wealth, and ethics in modern finance.

Résumé du livre

Sheelah Kolhatkar is a staff writer at the New Yorker. She has also written for the Atlantic, the New York Times and Time magazine. She is a public speaker and commentator on business, economics, Wall Street, regulation and financial crime. Before becoming a journalist, Kolhatkar was an analyst at two New York hedge funds.

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Toutes les bouchées

8 Bites

Wall Street's Shadow: The Rise of Steve Cohen

Inside the Rise and Risks of Steve Cohen

Billionaire Gambles: Steve Cohen’s Insider Empire

Profiting from Secrets: The Bapi Trial Scandal

Wall Street’s Shadow: The Rise and Reckoning of SAC

Unmasking Wall Street: The Pursuit of Steve Cohen

Unraveling Wall Street’s Insider Trading Saga

Wall Street’s Untouchable: Steve Cohen’s Rise

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