Buy-side analysts work in-house for institutions such as mutual funds or pension funds. They study possible investments and recommend which securities the institutions should buy or sell. Sell-side analysts work for brokerages, trying to sell their ideas to institutions. If an institution likes a brokerage's research, it might do business (placing trades) through that brokerage. The research of sell-side analysts also makes its way to individual investors, through brokerages. Hope that helps!Selena
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