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.

Thursday, 8 December 2016

Send in the bomb squad...

Oh dear!

Even more trading accounts are about to get blown up today.

The price of Australia's most valuable export commodity soared by $2.52/tonne overnight to $82.25/tonne, breaking a fresh 2-year high. 

Spot rebar prices and futures surged on fears of tighter supply, with concerns that there may be investigations by the provincial government into the production of substandard steel in China, according to MB IOI.

The iron ore price has now increased by a lazy +114.8 per cent from its nadir in December last year, and is up by +88.8 per cent over the 2016 calendar year to date.   

Short sell reports confirm that a hugely significant percentage of the issued capital of leveraged iron ore producer Fortescue Metals Group (ASX: FMG) is still being sold short. 

Unfortunately for the shorts the share price has now increased from its 52-week low of $1.44 to $6.58 for an increase of +357 per cent. 

Yet more pain to come for the shorters today as the spot price locked in a fresh 2-year high. 

It's also bye bye 'income recession'. 

Finally, here's a look at the wild swings in the iron ore price over a longer period from the global financial crisis meltdown through to today.