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.

Wednesday, 21 January 2015

Miners Battered

Australia's large miners have been battered down from some unappealing valuations over the last year as commodity prices have weakened substantially.

The share price BHP Billiton has fallen from a 12 month high of $39.79 to just $28.05.

BHP announced that it plans to cut back on its shale drilling operations in the US by around 40 percent by the middle of the year.

With a glut of supply and dwindling demand the price of oil has dived to a 6 year low in the past wee at around $47 per barrel - a monster decline, though good news for most consumers. 

BHP has also suffered from weakness across a range of other commmodities.

RIO Tinto has also seen its share price dive from $71.30 less than a year ago to just $55.09, largely due to the dramatic 50 percent collapse in the price of iron ore.


It will be interesting to see whether BHP priced at these levels begins to attract interest again from international share market investors. 

Perhaps, but commodity markets are generally weak. with little sign of respite to date.