Pete Wargent blogspot

Co-founder & CEO of AllenWargent property buyer's agents, offices in Brisbane (Riverside) & Sydney (Martin Place), & 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's 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 & charts, the most comprehensive analyst I follow in Australia. If you follow Australia, follow Pete Wargent" - Jonathan Tepper, Variant Perception, Global Macroeconomic Research, author of the New York Times bestsellers 'End Game' & '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 Hmmm, one of the world's most popular & widely-read financial publications.

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

Thursday, 19 March 2015

Proteas through...

All too easy for South Africa in Sydney yesterday as they eased through to the semi-finals.

Farwell to Kumar Sangakara, a freakishly talented player for Sri Lanka over nearly two decades.


After a quiet couple of days, an interesting data release today being the Detailed Labour Force figures for February.

These figures attract very little attention from the media but are important in trying to understand what is happening in the economy at the local level.

The previous round of data which I analysed in more detail here showed that unemployment has been rising alarmingly in some regions of Australia.

There are some huge variances by region, however, so it is vital to drill in to the data at that level.

Some of the regions which we are expecting to see as the worst hit are coal mining regions in central Queensland.

It's not going to be a great time for those operating in the bulk commodities sector, particularly for marginal producers

The iron ore price was walloped by overnight by another $3.10 to just US$54.50/tonne, while the prices of both thermal coal and coking coal have tumbled to post financial crisis lows.

Lord knows what will happen to the Fortescue Metals Group (FMG) share price today, but it certainly won't be pretty.

As I looked at last year here, the capital structure of FMG when the share price was ~$3.00 was a potential disaster waiting to happen, and it likely won't be long before we see the share price at half that level.

More on the Labour Force figures later...