Real-time thoughts & analysis of the markets, economy & more...
Co-founder & CEO of AllenWargent property market & hedge fund advisory.
Check us out here www.allenwargent.com - to invest in Sydney/Brisbane property or for media/public speaking requests email firstname.lastname@example.org
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.
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Saturday, 10 November 2012
A bit of relief as stocks are flat on Wall Street
I try to steer away from commenting on day-to-day movements in stock valuations.
After all, while traders should watch closely, investors should be focussed on the longer term.
But after two dreadful trading sessions on Wall Street, it would have been some relief to see strong consumer confidence data yesterday and a flat trade.
The Dow has dropped back to where it was back in July, when everyone was talking about Greece. The market seemed to get bored of that, but now the fiscal cliff and the risk of US recession is all the rage!
"President Obama invited the top Democratic and Republican leaders in Congress to the White House next week to begin talks on a plan to avert the so-called fiscal cliff.
“The American people voted for action,” Obama said at the White House, giving his first public remarks on the budget and deficit since winning re-election Nov. 6. He again said any solution must include spending cuts and raising revenue, including raising taxes on the wealthiest.
If Congress doesn’t act by the end of the year, $607 billion in automatic spending cuts and tax increases are scheduled to take effect starting in January. Obama repeated the broad outline he’s laid out during his re-election campaign for a “balanced” approach to cutting the deficit."