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).

5 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 finest property analysts in Australia" - Stephen Koukoulas, MD of Market Economics, former Senior Economics Adviser to Prime Minister Gillard.

"Pete 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'.

"The level of detail in Pete's work is superlative across all of Australia's housing markets" - Grant Williams, co-founder RealVision - where world class experts share their thoughts on economics & finance - & author of Things That Make You Go of the world's most popular & widely-read financial publications.

"Wargent is a bald-faced realty foghorn" - David Llewellyn-Smith, MacroBusiness.

Wednesday, 16 April 2014

BHP quarterly iron ore output +23%

BHP Billiton has increased its full year guidance on iron ore to a whopping 217 million tonnes, beating analysts consensus by 5 million tonnes.

That includes a massive ramp up in quarterly iron ore output of 23%.

Iron ore is BHP's most profitable commodity, producing nearly 50 million tonnes of it in the Pilbara in the first quarter of this year alone, in spite of wild weather.

On a week to week basis, analysts will quibble about market expectations and actual versus expected volumes.

But that's a bit like when people argue over whether China as the world's second largest economy is growing at 7.5% or a slightly slower 7.4% per annum.

Remember to see the bigger picture: whatever is happening to commodity prices, Australia's export volumes are in boomtime. 

Bulk Commodity Exports graph


In other news, annual UK inflation has fallen to just 1.6% in the month of March (click chart below to expand).

Wages are at last going to outpace the cost of living increase for the first time in a blue moon, and there are no interest rate hikes coming soon here.

London dwelling asking prices are up by a rip-snorting 17% in a year. Stand by for UK housing bubble redux.