Pete Wargent blogspot

Co-founder & CEO of AllenWargent property buyer's agents, offices in Brisbane (Riverside) & Sydney (Martin Place), and CEO of WargentAdvisory (providing subscription analysis, reports & services to institutional clients).

5 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 finest property analysts in Australia" - Stephen Koukoulas, MD of Market Economics, former Senior Economics Adviser to Prime Minister Gillard.

"Pete 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'.

"The level of detail in Pete's work is superlative across all of Australia's housing markets" - Grant Williams, co-founder RealVision - where world class experts share their thoughts on economics & finance - & author of Things That Make You Go of the world's most popular & widely-read financial publications.

"Wargent is a bald-faced realty foghorn" - David Llewellyn-Smith, MacroBusiness.

Tuesday, 8 November 2016

Budget windfall

Pilbara records

Exports of iron ore from Port Hedland in the Pilbara jumped to a record 469 million tonnes in October, up by +6 per cent from a year ago.

The monthly total for October of 41.7mt was a +12 per cent increase from October 2015, with Gina's Roy Hill mine now a contributor to the epic volumes.

China imported over a billion tonnes of iron ore over the year to October, which is a mind-blowing statistic.

The iron ore price has increased by an unreal +57 per cent this year to a two-year high, which is impressive enough, but the action in coal markets has defied belief.

I can hardly keep up with movements in coal prices, but last time I checked the coking coal price has was blazing towards a plainly ridiculous $307.20/tonne (Tuesday), while Chinese coking coal futures hit their highest level on record and thermal coal rose by another +34 per cent to October to hit $104.20/tonne by the close on Monday.

All completely mad. 

Who knows how long this madness can last? 

The longer the better from the perspective of Australia's budget!