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Co-founder & CEO of AllenWargent property buyers & WargentAdvisory (subscription market analysis for institutional clients).
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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.
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"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'.
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Wednesday, 9 November 2016
Woke up in London to the excellent news that the world won't have to endure another Clinton Presidency.
Less fortunately for America, and the rest of the world, that means that the other bozo won.
Anyway, I decided long ago that this isn't a political blog, so I'll spare you any more of that.
Too bad, by the way, if you bought the meme that Australia stock markets offered value simply because the index has declined over the past decade.
As opined here previously, the ASX 200 was never heading back to 6000 anyway, but it definitely isn't now.
Aussie stocks began to plunge after midday as they realised that they'd mispriced the election outcome.
Still the full enormity of the election result wasn't exposed until after the close.
Futures markets from London to New York initially got smoked, though the FTSE 100 & DJIA will recover as spooked investors once again realise glumly that there may be nowhere better to put their money.
Perversely, SPI futures are now pointing to gains for Aussie stocks today.
Still, only a matter of time before the ASX 200 has a '4' in front of it again if you ask me, just as soon as markets wake up to what a dire result this really was, together with the adverse indirect impacts on Australia.
You'd be struggling to think of too many positives today.
Dalian iron ore hit limit up (+9 per cent), while coking coal prices have now quadrupled since June.
With all the other nonsense going on, Australia might just be grateful it built all those mines after all!