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 ...
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| Hays vs Michael Page |
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| Hays share price |
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| Michael Page share price |
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