The Fort #339 - Simon Wagner - Founder @ Granite Oak - Compounding $1M to $250M in 10 years
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Feb 22, 2024 Simon Wagner shares his journey from Morgan Stanley to founding Granite Oak, focusing on mortgage-backed securities, commercial mortgage thesis, Irish real estate market, planning & entitlements. Delve into Ireland's housing shortages, fundraising, and the challenges in European housing development.
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From Germany to the US
- Simon Wagner grew up in a small German town near the Iron Curtain and moved to the US at 16 through an exchange program.
- His host family in Virginia Beach adopted him, allowing him to attend UVA on in-state tuition.
Early Finance Interest
- Simon Wagner's interest in finance began in childhood.
- He frequented the local bank, reading financial materials and even purchasing investment products with his father's signature.
Joining Morgan Stanley
- In 2006, Simon Wagner joined Morgan Stanley's structured products team, specializing in mortgage-backed securities and other complex instruments.
- The team focused on profiting from securitized products, and the complexity and risk often correlated with higher pay.