Please correct me if I'm wrong at any stage and forgive me for my ignorance! Also I'm not sure whether I've posted this in the correct section.
From my (basic) understanding, IBs are on the sell-side and money managers (asset managers, pension and mutual funds, hedge funds, private equity/venture capital firms?) are on the buy-side.
What other types of firms are on the sell side?
Now the main part of my confusion is the fact that people say how awesome it is to work on the buy-side and they want out of the sell-side/IBs...
Why can an IB not be on the buy-side? I understand that when a firm wants to sell it hires a sell-side advisor (an IB) but I also know that when a money manager wants to buy then it may hire a buy-side advisor. Now I'm assuming that this advisor is also an IB - but doesn't that make the IB buy-side then?!
Thanks fellas
