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Technology Stocks : Cisco Systems, Inc. (CSCO)
CSCO 76.26+0.2%2:19 PM EST

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To: Wyätt Gwyön who wrote (50328)3/26/2001 8:23:32 AM
From: GVTucker  Read Replies (1) of 77400
 
RE: Buy side vs sell side

Sell side executes the trades for the buy side. Sell side firms are primarily broker dealers. Buy side firms are primarily investment management. While those lines do indeed cross all the time, in the end, if a firm gets a decent portion of their revenue from sales and trading, they're sell side. Thus, while Goldman Sachs does indeed have a large investment management side, they're still sell side because they make the big bucks from sales and trading, and while Fidelity does indeed own a broker dealer, they're still buy side, as they get the lion's share of their revenues from management fees.

Investment banking is (supposedly) in a different world, but that's another argument.
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