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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Tuesday, 27 August 2013

The demise of Billabong could be a wipe-out

Sadly, the famous Billabong (ASX: BBG) brand appears to be running out of time after it recorded a full-year loss of $859 million.

The loss reflected a range of brand impairments (approximately $600m), intangibles which can no longer be supported by the company's financials, as well as a further c.$200m in write-downs on fixed assets and inventory.

The share price has continued to plummet over the past two years as revenues have continued to decline, with global sales falling by another 13% last year. 

Reportedly, the Aussie stores are the main ray of hope as the brand has lost traction in the US and Europe.

The company is riddled with half a billion dollars in debt and seeks a private equity deal to strengthen its position. 

To date, no deals have been secured, leaving the company in a precarious position.

Source: ASX