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.
Tuesday, 8 April 2014
2014 gains erased
Well, it's been in the post as they say.
Quite a share market pullback, but seemingly not based upon any significant news.
Volatility indices have increased, and as usual there are a few concerns out in the world (China property bubble dramas, as well as rising tensions in Ukraine and unrest which could form the pretext for an invasion by Russia) which might give market traders the jitters.
Is just the blip or the start of a selloff that could get very ugly?
"U.S. stocks fell, pushing the Nasdaq 100 Index to its biggest three-day retreat since 2011 and erasing the year’s gains in the Standard & Poor’s 500 Index, as technology shares extended last week’s selloff.
The S&P 500 dropped 1.1 percent to 1,845.04 at 4 p.m. in New York. The Dow slipped 166.84 points, or 1 percent, to 16,245.87. The Nasdaq 100 gauge of the biggest technology stocks fell 0.9 percent, bringing its three-day drop to 4.3 percent. The Russell 2000 Index of small companies sank 1.5 percent to an almost two-month low.
“If you take a closer look under the hood, things have been deteriorating for a while now,” Ryan Detrick, senior technical strategist at Schaeffer’s Investment Research in Cincinnati, wrote in an e-mail. “Small caps and tech have been breaking down all over the place the past month, with the big blue chips holding tough. Well, now it looks like the last place bulls were hiding is finally starting to crack.”