[求助]sell side/buy side here respect, manager, security, research, particular

maplela

ethics里面的一段没看明白--

Guidance-- Buy side clients

Buy side clients may try to pressure sell-side analysts. Portfolio managers may have large positions in a particular security, and a rating downgrade may have an effect on the portfolio perfomance. As a portfolio manager, there is a responsibility to respect and foster intellectual honesty of sell-side research.

这里面,谁是buy side,谁是sell side?

thanks!