Pete Wargent blogspot

Co-founder & CEO of AllenWargent property advisory, offices in Brisbane (Riverside) & Sydney (Martin Place) - clients include hedge funds, resi funds, & private investors.

4 x finance/investment author - 'Get a Financial Grip: a simple plan for financial freedom’ (2012) rated Top 10 finance books by Money Magazine & Dymocks.

"Unfortunately so much commentary is self-serving or sensationalist. Pete Wargent shines through with his clear, sober & dispassionate analysis of the housing market, which is so valuable. Pete drills into the facts & unlocks the details that others gloss over in their rush to get a headline. On housing Pete is a must read, must follow - he is one of the better property analysts in Australia" - Stephen Koukoulas, MD of Market Economics, former Senior Economics Adviser to Prime Minister Gillard.

"Pete Wargent is one of Australia's brightest financial minds - a must-follow for articulate, accurate & in-depth analysis." - David Scutt, Business Insider, leading Australian market analyst.

"I've been investing for over 40 years & read nearly every investment book ever written yet I still learned new concepts in his books. Pete Wargent is one of Australia's finest young financial commentators." - Michael Yardney, Australia's leading property expert, Amazon #1 best-selling author.

"The most knowledgeable person on Aussie real estate markets - Pete's work is great, loads of good data and charts, the most comprehensive analyst I follow in Australia. If you follow Australia, follow Pete Wargent" - Jonathan Tepper, Variant Perception, Global Macroeconomic Research, and author of the New York Times bestsellers 'End Game' and 'Code Red'.

"Pete's daily analysis is unputdownable" - Dr. Chris Caton, Chief Economist, BT Financial.

Invest in Sydney/Brisbane property markets, or for media/public speaking requests, email pete@allenwargent.com

Monday, 18 June 2012

A sad day for Fairfax Media

A part of the stock market’s bounce today was driven by Fairfax Media (FXJ – share price up well over 8% as I write this) who released an ASX announcement today entitled ‘Fairfax of the Future’.

Sadly, one of the results of Fairfax’s proposed restructuring is to be 1,900 redundancies over the next 3 years.

Paradoxically, share prices often respond positively to news of redundancies (and adversely to proposed acquisitions) as investors anticipate cost savings.

The company has had a rotten 5 years since mid-2007 and always seems to feature high on the ASX's short-selling reports, as sceptical investors believe that the future of physical newspapers is a bleak one and doubt Fairfax's ability to adapt to the digital age.

Fairfax is the publisher of newspapers the Sydney Morning Herald, as well as The Age in Melbourne and the Canberra Times.