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 pete@allenwargent.com

Friday, 15 April 2016

F.M. Geeee...

Ore rebound

The iron ore price has rebounded by 36 per per cent in 2016 so far, while the oil price has also gone on a tear.

Good news for the budget, and great news for Australia, although the bull run came to an abrupt end overnight.

Fortescue Metals Group (ASX: FMG) has enjoyed some welcome relief as a result of the resurgence, its share price ripping from a January 21 low of $1.44 to touch $3.34 yesterday.


Source: ASX

Fortescue has a huge pile of net debt - totalling around US$5.9 billion - which it is trying to shave down, so will be hoping that the iron ore price really can be sustained, particularly with new market entrants adding to competition.

FMG is a highly leveraged play in more than one sense, and as such is acutely exposed to the iron ore price. It makes for a volatile ride.

The company has a market cap of just under $10 billion, and probably a bit lower this morning.

Scuttman reported over at Business Insider this week that China had imported - get this - an absolutely jaw-dropping 969 million tonnes of iron ore in the year to March 2016.

A record, obviously.