Business Insider’s weekly in-depth economics and markets podcast, Devils and Details, is coming LIVE to The Ivy in Sydney on November 27th, from 6.30pm. We’ve got a stellar line-up of some of Australia’s most forthright and insightful commentators and analysts, with panels to discuss investment, property, and the outlook for 2019. Tickets are $50 and include drinks and canapes on the night.
Ahead of the event, we’ve asked some of our panellists for some thoughts on a few key issues. They include:
- Laura Fitzsimmons, executive director, J.P. Morgan
- Con Michalakis, chief investment officer, Statewide Super
- Joanne Masters, senior economist, ANZ
Here’s Pete Wargent, co-founder of property investment advisory firm Allen Wargent and one of Australia’s most prominent housing market analysts.
1. What are the key economic factors, at the global level or at home in Australia, you are watching most closely as we head towards 2019?
As a real estate analyst and investor, I’m mainly interested in regional jobs and demographic trends; and for the health of the Aussie economy, forward-looking indicators like money growth and building approvals.
What’s mainly grabbing my attention right now is mortgage market dynamics, including APG 223 and tighter lending standards, the shift away from interest-only loans, and how all that interacts with mortgage prepayments, delinquencies, and debt ratios.
I’m sorry — you were probably looking for a lighter-hearted answer than that. Nevertheless, it is what it is!
2. Can you share a favourite unusual economic indicator you like to watch closely? Explain why it interests you.
You were probably looking for something clever here like the percentage of 25-34-year-olds with private health insurance… or your favourite index, the 4.30pm queues for discounted chooks at Woolies! [Editor’s note: this is in reference to a story I once told on the podcast which was about people putting off purchase decisions when they expect prices to fall. I may have mentioned it on a second occasion on the show.]
In which case, well, I do follow with interest domestic aviation activity around the traps with keen interest.
Ultimately, I’m a people person – I’m endlessly fascinated by the evolution of Aussie cities and what people are up to – so I like to observe social trends with my own eyes, as well as construction and development projects, naturally.
3. What’s the most important piece of career advice you have to offer?
I once worked for a boss who will remain unnamed who said to me: “Pete, the best career advice I can give you is this: don’t get divorced. You won’t have to work as hard!”
So I’ve tried to embrace that nugget of wisdom.
The most life-changing thing I learned when was when someone or other showed me how compound interest tables work, and I sort of went: “Ohh…”.
Steve Moriarty of Stock Market Mentor keeps on telling me to dress for the position I want, so you’ll be pleased to hear I bought a couple of new Hugo Boss shirts for Devils & Details UNPLUGGED!
I can’t remember if anyone has ever said it me so specifically, but I deliver personal coaching myself these days and I stress to my clients that the best role or business is the one that sees you using both your exceptional talents and what you enjoy doing.
Catch Pete Wargent at Business Insider Australia’s live event on November 27th >>