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 finest 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.

Tuesday, 8 November 2016

Budget windfall

Pilbara records

Exports of iron ore from Port Hedland in the Pilbara jumped to a record 469 million tonnes in October, up by +6 per cent from a year ago.

The monthly total for October of 41.7mt was a +12 per cent increase from October 2015, with Gina's Roy Hill mine now a contributor to the epic volumes.

China imported over a billion tonnes of iron ore over the year to October, which is a mind-blowing statistic.

The iron ore price has increased by an unreal +57 per cent this year to a two-year high, which is impressive enough, but the action in coal markets has defied belief.

I can hardly keep up with movements in coal prices, but last time I checked the coking coal price has was blazing towards a plainly ridiculous $307.20/tonne (Tuesday), while Chinese coking coal futures hit their highest level on record and thermal coal rose by another +34 per cent to October to hit $104.20/tonne by the close on Monday.

All completely mad. 

Who knows how long this madness can last? 

The longer the better from the perspective of Australia's budget!