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.

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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.