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.

Invest in Sydney/Brisbane property markets, or for media/public speaking requests, email

Monday, 16 September 2013

Risk on - ASX to a new 5 year high

The XJO added 28 points or 0.54%. 

US stock futures are up also.

Once again, the driver of positive stock market sentiment is something of a paradox. 

There's a feeling that stimulus will be withdrawn more slowly based upon the likely selection of the new Federal Reserve Chairman as being Janet Yellen. Lawrence Summers withdrew from consideration. 

Yellen is said to be likely to favour a steadier tapering.

Here is the 5 year chart:

Source: ASX

There has been renewed talk in the press about the Aussie banks being overvalued which is something I've looked at in quite some detail before.

PE ratios of 13-15 don't indicate that the major banks are wildly overvalued given the state of the wider market, but, as I looked at here, nor is there a compelling case for value.