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.
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Tuesday, 13 August 2013
Iron ore price leaps +4.2% to $138.70/tonne
Some speculative trading going on there? Who knows when it comes to the fickle Shanghai spot price?
Either way, the iron ore spot price recorded its biggest jump since the manic-depressive days of October 2012 in surging by more than 4% to US$138.70/tonne.
To put this in perspective, at the end of May the price was $110.40, meaning that the price has increased by more than 25% in only a couple of months.
When you factor in the falling Australia dollar, the increase is even more spectacular - a huge increase in A$ terms of more than 31%.
Iron ore is Australia's most significant export commodity, so this is a major boost to the Aussie economy and not to be underestimated.
Also good news for Rio Tinto, now trading all the way back up at $62.62.