I know this topic has been hit time and time again. However, I feel after every recession, there's always tons of people saying sell-side trading is dying just to see another great time. Yes, regulation has tightened and the money has definitely decreased, but it seems to me sell-side banks always find a way. There is always the classic debate of IBD vs S&T , but why if everyone thinks S&T is going to die. Thoughts anyone?