Pete Wargent blogspot

Co-founder & CEO of AllenWargent property buyer's agents, offices in Brisbane (Riverside) & Sydney (Martin Place), & 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's 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 & charts, the most comprehensive analyst I follow in Australia. If you follow Australia, follow Pete Wargent" - Jonathan Tepper, Variant Perception, Global Macroeconomic Research, author of the New York Times bestsellers 'End Game' & '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 Hmmm, one of the world's most popular & widely-read financial publications.

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

Tuesday, 21 February 2017

Iron ore turns parabolic


Did I say I'd cut down on the rapid fire iron ore price posts?

Oops, sorry about that!

The spot price blazed $2.52/tonne higher today to yet another new multi-year high of $94.86/tonne.

The latest move is turning borderline parabolic.

The iron ore price is now up by an astonishing 148 per cent since its nadir, which should help to get Australia's persistent budget deficit back into some kind of better shape.

It's almost as if the Aussie dollar doesn't believe in the rally, and as a result the spot price in Aussie dollar terms is now ~A$124/tonne.

Leveraged iron ore producer Fortescue Metals Group (FMG) salso aw its share price nudging multi-year highs today before closing at $7.15, for an almost unfathomable turnaround story.

Meanwhile BHP Billiton Limited (BHP) is enjoying the now enormous rebound in commodity prices, reporting a return to profit today in its half year results to 31 December 2016.

Picture by Ryan McGuire