als toevoeging - verchil sell en buy side analist
Sell-Side Analysts
If you have ever watched a financial news program, you have probably heard the reporter reference "analysts." These analysts are typically sell-side analysts and are believed to provide an unbiased opinion based on proprietary research on a company's securities.
Simply put, the job of a sell-side research analyst is to follow a list of companies, all typically in the same industry, and provide regular research reports to the firm's clients. As part of that process, the analyst will typically build models to project the firms' financial results, as well as speak with customers, suppliers, competitors, and other sources with knowledge of the industry.
From the public's standpoint, the ultimate outcome of the analyst's work is a research report, a set of financial estimates, a price target, and a recommendation as to the stock's expected performance. The estimates derived from the models of several sell-side analysts also can be averaged together to come up with a single expectation called the consensus estimate.
What Is the Buy-Side?
The financial institutions of a free-market economy include a segment called the buy-side: firms that purchase investment securities. These include insurance firms, mutual funds, hedge funds, and pension funds, that buy securities for their own accounts or for investors with the goal of generating a return.
Opposite of the buy-side professional is the sell-side. Unlike the buy-side, sell-side efforts do not include making a direct investment. Instead, they assist the investing market with all activities related to the sale of securities to the buy-side, such as underwriting for initial public offerings (IPOs), providing clearing services, and generating research material and analysis.