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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Sunday, 10 July 2016

Stop the votes

Residents of Brisbane lost interest in the election at least a week ago, and most were out enjoying the sunshine this weekend.

Many of the them were in the self-proclaimed "world's largest subtropical garden in a city centre" (a sceptic might wonder how many city centre gardens in the sub-tropics are jostling for this prestigious tagline?). 

Nevertheless, a lovely spot!

According to the news wires Bill Shorten of the Australian Labor Party (ALP) has finally conceded election defeat, some eight days after we went to the polls.

There remain thousands of votes still to be counted, which does seem somewhat ridiculous in this day and age.

I think we all can agree that the sooner e-voting is given the green light the better.

Even more than a week after the count began, the Coalition has only been awarded 74 seats, requiring 76 for a majority.

To be fair to him, Treasurer Scott "ScoMo" Morrison had always said the substantial postal vote would swing the result decisively towards the Liberals, the postals having favoured them historically. 

And so it has proved.

The Liberals are marginally ahead in two of the five remaining close seats - Flynn and Capricornia - with 15 to 20 per cent of the votes in each of the outstanding seats still to be counted. 

Expect a relief rally in the stock market tomorrow, with SPI futures tipping the market to open well over 1 per cent higher. 

Meanwhile property investors will breathe a little more easily knowing that negative gearing rules won't be touched for years - and perhaps more significantly, the capital gains tax discount will remain in place for at least another term. 

The June Labour Force figures are due for release on Thursday morning, with market analysts tipping a fairly modest result. 

Now that Prime Minister Malcolm Turnbull is "in", it will be very interesting to see how he fares.