I believe it was the recruiter PageGroup (PAGE), trading under its 'Michael Page' moniker at the time, which found me my first (temporary) job in finance when I was trying to make my way. The history books will note that I quit after less than two weeks when I landed a permanent opportunity but I have always retained a soft spot for the company. Of course in the hard-headed world of financial analysis all of that does not matter a jot though…
I called investors who bought shares in recruitment company PageGroup (PAGE) 'bonkers' back in January ...but despite my excitable language, the shares are a little bit higher than that level currently despite shedding a percent or so today following a latest update.
Back in January I said that you were a bonkers bull if you bought shares in the recruitment company PageGroup (PAGE) and over the last four months the share price has struggled to crack on from the excitable 540p+ level it reached in mid-January. I still think this is the case...but today's trading update is notable for another trend: everywhere bar the UK is still growing for the group.
One of the hardest things for less experienced stock market participants to get their heads around is the expectations game. Numbers can be good (or bad) but if the teenage scribbler analyst, ‘professional’ fund managers and ‘the great unwashed’ in the form of other market participants broadly already think something, then confirmation of this event is not going to really change the share price needle. Of course as a consequence companies then start to try to become clever in managing expectations in order to 'beat' anticipated numbers...but that's for another time.