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

Author:Sheelah Kolhatkar
Language: eng
Format: mobi
Tags: Investments & Securities, Corruption & Misconduct, Finance, General, Political Science, Business & Economics
ISBN: 9780812995817
Publisher: Random House
Published: 2017-02-07T00:00:00+00:00

As Riely squinted at the list of names on his computer screen, two people stood out. Both were doctors. One was Sidney Gilman, the presenter of the information at the medical conference that had prompted the Elan and Wyeth stocks to plunge in July 2008. The other was Joel Ross, one of the clinical investigators who had participated in the trial. From looking at Ross’s phone records, Riely and Hendelman were able to see numerous conversations with someone at an SAC number. Still, the records didn’t indicate which portfolio manager or trader at SAC Ross had been talking to. Riely started cross-referencing the mystery SAC number with other numbers of SAC employees the SEC had in its database. He googled incessantly and ran the numbers through directories. It required hours and hours of tedious work.

Who was the trader? The question nagged at him. There had to be a way to find out.

—

As the SEC was gathering more details of the Elan and Wyeth trades, Mathew Martoma was struggling to repeat his spectacular success at SAC. His bet on bapineuzumab had been one of those once-in-a-lifetime accomplishments, one naturally followed by a severe case of performance anxiety. Martoma had received a $9.38 million bonus that year. Finding that level of success again wasn’t going to be easy.

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