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'.

Thursday, 5 February 2015

Port Hedland bonanza continues despite cyclone

Despite cyclone activity in Port Hedland which caused ports to close on January 20 the iron ore bonanza continues apace.

Some 36.78 million tonnes of iron ore were shipped in January, a 30 percent increase on a year ago and a massive 66 percent uplift in volumes from only two years ago.

The monthly volumes shipped were down slightly on the previous month as the ports had to be closed due to the wild cyclonic conditions.

Well over 30 million tonnes of the iron ore cargo shipped was bound for China.

The lower cost miners BHP Billiton (BHP), Rio Tinto (RIO) and Fortescue Metals Group (FMG) are clearly set on a path to continue pumping the market with supply despite the commodity price sliding to its lowest level in well over half a decade at below US$62/tonne.

Latest production reports from BHP and RIO in particular suggested that there will be no respite for players at the small end of town with both mining behemoths smashing record quarterly production volumes.

This does not bode well for the marginal producers who will struggle to generate free cash flow as prices decline.

The Australian stock market has been on a remarkable run recording no fewer than ten consecutive positive trades, but generally the industrials and financials are likely to perform better than resources companies.