Pete Wargent blogspot

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

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

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

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

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

'Superlative work' - Grant Williams, founder RealVision.

Friday, 22 April 2016

Dial 000, shorts murdered

Another enormous +8.8 per cent spike in the iron ore price last night to $70.46/tonne, the third largest daily gain on record.

The iron ore price is now up by 84 per cent since its December 11 low.

At that time the "Big Short" call was that iron ore companies were headed into receivership, with a real value of $nil.

Below is the Fortescue Metals Group (ASX: FMG) chart, showing a rally from $1.44 to $3.62...or 151 per cent...at the close yesterday since the nadir of January 21.


Ouch.