#339 - Simon Wagner - Founder @ Granite Oak - Compounding $1M to $250M in 10 years
The Fort
Navigating the Turbulent Waters of Financial Markets
The chapter explores the speaker's journey at Morgan Stanley and the intricate workings of client-facing trading versus trading on the bank's balance sheet. It delves into the high-risk, high-reward dynamics of the financial industry in 2006, focusing on the securitization of assets like CDOs and complex derivatives. The narrative culminates in a reflection on significant financial losses, misjudgments, and the impact of the subprime market crisis, shedding light on the challenges faced by young professionals in a fast-paced trading environment.
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