Pete Wargent blogspot

CEO AllenWargent Property Buyers, & WargentAdvisory (institutional). 6 x finance author.

'Huge fan of your work. Very impressive!' - Scott Pape, The Barefoot Investor, Australia's #1 bestseller.

'Must-read, must-follow, one of the finest analysts in Australia' - Stephen Koukoulas, ex-Senior Economics Adviser to Prime Minister Gillard.

'One of Australia's brightest financial minds, must-follow for accurate & in-depth analysis' - David Scutt, Business Insider.

'I've been investing 40 years yet still learn new concepts from Pete; one of the finest young commentators' - Michael Yardney, Amazon #1 bestseller.

'The most knowledgeable person on Aussie real estate - loads of good data & charts...most comprehensive analyst I follow in Oz' - Jonathan Tepper, Variant Perception, 2 x NYT bestseller.

Monday, 27 April 2015



An electric 5.6 per cent bounce in the iron ore spot price to US$57/tonne brings a little more temporary respite to the beleaguered Fortescue Metals (FMG) and its ailing stock price.

FMG was up by 8.6 per cent at the open, briefly touching $2.42, before settling at $2.40 (last settled trade).

This will push Fortescue's market capitalisation back above $7 billion, although this is still less than the value of the group's total debt.

Still a pass for me - way too much debt and excessive exposure to a game of commodity price roulette - but best of luck to traders.