1. Goldman-Sachs has its own trading desk. But majority of its profits comes from investment banking--underwriting. Goldman Sachs is a broker too. Its analyst can upgrade or downgrade a stock. Other institutions can subscribe services from Goldman Sachs. Goldmand Sachs wins commission business from those institutions (mutual funds and hedge funds).
2. Big institutions such as Fidelity can move a stock easily. However, they are not brokers, so they cannot upgrade or downgrade stocks. Otherwise, we have no way to play the game.
2. Big institutions such as Fidelity can move a stock easily. However, they are not brokers, so they cannot upgrade or downgrade stocks. Otherwise, we have no way to play the game.