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

Friday, 4 October 2013

DJIA sheds another 136 points

Still no panic yet but the Dow Jones index is now below 15,000 as the political wrangling continues for another day...and I'm still staying out of the market.

Bloomberg:

"U.S. stocks fell, with the Standard & Poor’s 500 Index dropping the most in a month, as data showed weaker-than-forecast growth in service industries and concern grew that the political impasse could lead to a recession.

"The S&P 500 lost 0.9 percent to 1,678.57 at 4 p.m. in New York, its steepest slide since Aug. 27.
“I think people are starting to raise an eyebrow finally,” Joseph Saluzzi, partner and co-head of equity trading at Themis Trading LLC in Chatham, New Jersey, said in a phone interview. “The longer this goes on, people get a little more nervous. And when people get nervous they sell first and ask questions later.”
Talks last night between congressional leaders and President Obama failed to break the fiscal stalemate that has caused the first government shutdown in 17 years, with both sides repeating the positions they’ve held for weeks.
Obama said today there is only “one way out” -- for House Speaker John Boehner to allow a vote on a stopgap spending bill without conditions. The speaker urged Democrats to negotiate a settlement, blaming them for causing the stoppage.
The S&P 500 fell as much as 1.4 percent before trimming its decline. The paring accelerated after Boehner’s spokesman said the speaker would not let the government default on its debt."