Book Review: Black Edge
If you are like me, a beginner starting off my trading/investing career or for passive income. Additionally with the passion of thriller and real world action. Black Edge is a book on the history of a hedge fund firm by an investigative journalist.
This book will make you fall deeper in the love for trading and thriller.
Here is just a small review of the book.
Wow, what excellent journalism writing and book to understand the mind of Wall Street's most prominent traders and hedge fund companies. Black Edge is a book written by a curious journalist who wanted to spread the truth and believe in herself. I'm sorry I forgot her name right now. She is a New York journalist, and she is fantastic. Sheelah Kolhatkar. On the other hand, we got the FEDs and SEC who wanted to punish Cohen for blending the laws in his favor and the favor of the rich.
Stock Market: Finding the tiniest Edge on everyone, Everything, Every Minute detail
Black Edge is about Steve Cohen, period. How come one man from a middle-class family turns himself into a trader worth billions of dollars. Steve Cohen started on Wall Street when the financial market started to turn upward. People were learning more about finances; people wanted to make money from the taxi driver to a doctor. Everyone wanted to earn passive money in the long run. But Steve Cohen changed Wall Street.
He represents the idea for an Average Joe can be smart and play with the upper echelon of society. Everyone wants to find that Edge over hundreds of thousands of other traders, bankers, and private hedge funds in Wall Street and the stock market.
Steve Cohen started from the button and worked himself up to create his multi-billion hedge fund called: SAC Capital. This is not important, as I wanted to learn from honestly one of the most excellent traders what he did to reach the apex of Wall Street. What he did was to find a Black Edge.
As a retail trader and a graduate of journalism, Black Edge is one of the stories that shocked me. I studied journalism to follow these people and understand their minds and ways of thinking. Steve Cohen founded a new way to trade by short selling and short buying. He would never hold a stock for an extended period. Steve Cohen was the anti- Warren Buffet. Cohen did not care about the company's financials as much.
Cohen did not care what a company business plan was or how a company would want to improve its core business. Cohen manages only about two things, in my opinion. The numbers change in percentage and how to find information and get information before anyone else can find it, or the lead turned into public knowledge. For Cohen, numbers and relationships with executives, accountants, and portfolio managers were essential.
The Stock Market has changed with every decade. From a slow way of trading and looking at charts. To something fast, computerized, indicators, math, and have the slightest edge over other traders in the market. Steve Cohen was the pioneer of change in Wall Street. You can hate him or love him, but you must respect the man himself for how he beat the odds in trading.
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With additional from a novice on trading.
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