贺琳娜

I think, the prtfolio managers can work for both buy side n sell side. But for this content, the portfolio may refer to 'buy side'. Why portfolio manager may threaten/engage in retaliatory practices, it may because of management bonus schemeor maybe they receive the gift from their competitors or maybe related party transactions, that would harm the buy side, n it would affect the independence n objectivity of the buy-side analysts not sell- side I THINK.