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 firstname.lastname@example.org
Saturday, 12 April 2014
Worst 2 day fall since June
Stocks copping a pasting in the US, with the S&P 500 experiencing two sharply down days.
The Dow Jones has lost more than 400 points in two trades, and the NASDAQ is being clobbered.
It's worth noting here that the selloff has not been triggered by weak economic data
Rather simply that certain stocks in the US have become too expensive as I noted here (not a bad call by the way, just quietly, since US stocks have crumbled since I wrote that!).
The technology stock focused NASDAQ has been trading at 35 times earnings, which is far too much for any rational investors to pay for a company, so little wonder that it's shed almost 4.5% in just a couple of sessions.
By way of comparison, the S&P 500 has been trading at only around half that level of average valuation.
Bloomberg summarises, replete with requisite meaningless quote from a trader:
"U.S. stocks sank, extending the Standard & Poor’s 500 Index’s worst two-day drop since June, amid disappointing results at JP Morgan Chase & Co. and signs hedge funds were dumping the bull market’s best performers.