Pete Wargent blogspot

Co-founder & CEO of AllenWargent property buyer's agents, offices in Brisbane (Riverside) & Sydney (Martin Place), and CEO of WargentAdvisory (providing subscription analysis, reports & services to institutional clients).

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.

Monday, 24 February 2014

Market buys BlueScope turnaround story

Markets seemed please with BlueScope Steel's (BSL) H1 Earnings Report and investor preso, with the company squeezing out a small net profit in reporting an NPAT of $3.7m.

The share price jumped by 7.3% to $6.30, following a good run over the last year, as the company gradually turns things around.

The company announced an underlying NPAT of around $49.1m, which was an improvement of $50.7m on the H1 2013 result.

Source: ASX

This is not much consolation for long-term holders, mind.

The company was brutally impacted by the strong Australian dollar and an inability to keep costs down which sent BSL from former market darling into loss-making territory.

The share price collapse is much worse than it looks on the 10 year chart. since company shares were consolidated by an ASX release in November 2012 which confirmed a 1-for-6 consolidation.