Yesterday I shorted Hays (HAS) and went long Michael Page (MPI) at a ratio of 2:1. As I can’t see a hiring frenzy on the horizon and both stocks don’t appear cheap, I fully expect both to go down. But I reckon that Hays is not as good a business as Page and has more downside as a result. On the other hand, if the monetary authorities provide another dose of money salts to perk up the risky assets, then Page should blitz upwards while Hays may take a jauntier stroll. The charts show this all better in pictures than I can say in words ...
|Hays vs Michael Page|
|Hays share price|
|Michael Page share price|
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