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

Thursday, 15 November 2012

Stocks being hammered as the wall of worry continues to mount

If you are trading stocks, it has to be said that the chart looks horrendous at the moment.

Here's Bloomberg on the latest shocking trade:

"U.S. stocks sank, sending the Dow (INDU) Jones Industrial Average to the lowest level since June, as concern about the budget debate and conflict in Israel wiped out an early rally. Oil jumped and Treasuries were little changed.

The Dow slid 185.23 points, or 1.5 percent, to 12,570.95 and the Standard & Poor’s 500 Index tumbled 1.4 percent to 1,355.49 at 4 p.m. in New York, reversing an early gain of 0.4 percent and closing at the lowest level since July.

Oil jumped 1.1 percent as Israeli airstrikes killed a militant Hamas leader. Ten-year Treasury yields were down less than one basis point at 1.59 percent. The yen slid versus 15 of 16 major peers on speculation Japan will pursue more monetary easing.

Investors’ attention remained fixated on Washington, where lawmakers need to reach a budget agreement in order to avoid a so-called “fiscal cliff” of $607 billion in automatic tax increases and spending cuts next year. Earlier gains in stocks were led by technology shares as Cisco Systems Inc. (CSCO) reported better-than-estimated earnings.

“The recent wall of worry continues to mount,” Ryan Larson, the Chicago-based head of U.S. equity trading at RBC Global Asset Management (U.S.) Inc., said in an interview. His firm oversees $250 billion. “Middle East geo-political tensions, continued sovereign concerns about Greece and Spain, indecision ahead of the fast-approaching fiscal cliff and the fact that the major U.S. indices continue to trade under key technical levels are all weighing on sentiment.”