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).
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.
Friday, 12 May 2017
Ugly Vita, beta splayed
I haven't done any Monday morning quarterbacking for at least a couple of weeks, which is remiss of me.
Following on from the themes of Vocus and Sirtex, this time Vita Group (ASX: VTG) has crashed by another 30.5 per cent following yesterday's update on trading conditions.
Shareholders have now experienced almost a 72 per cent drawdown from the 52-week high.
Some shareholders had expressed concerns that the CEO's selldown might presage a falling share price.
In March last year the CEO finally cashed in 15 million shares of her stake for a hard-earned $42 million payday (while still retaining a very substantial 39 million shares, it should be said) - and then in August another 4 million shares were disposed.
A remarkable success story, the CEO had founded the group almost two decades earlier with just one solitary store.
A 70-plus per cent drawdown following key management personnel selling of shares echoes the Vocus story quite closely.