Pete Wargent blogspot

Co-founder & CEO of AllenWargent property advisory & buyer's agents, 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.

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Wednesday, 14 November 2012

Further currency tales of woe...

I was forced to expatriate some USD back from East Timor to Sydney today - and was given the lovely rate of 106.7 cents. Lovely for the bank that is! 

My own fault for poor cashflow management of course; I would have preferred to wait until next year if I could have done.

I won't name the bank, though there's only one Aussie bank in East Timor so I'm sure you can work it out.

Unless my calculator is playing cruel tricks on me that means the bank takes a cut of well over 2% on top of its wonderfully generous handling fee (it's certainly generous in comparison to local salary rates).

Of course, I could have used a Forex handling house for a better rate and I had indeed planned to.

Unfortunately, they require a raft of certified ID documentation to be posted to NSW. Would gladly have provided, if only there was a worthwhile operating postal system in Dili.


AUD back at 104.5 US cents today.  A tremendous headache for the RBA and adds ammunition to the calls for a December rate cut.

December 2012 contracts trading at 96.885 implying a 60% chance of a December cut in the cash rate priced in at market close yesterday.

Implied yield curve still expecting at least two interest more cuts yet.