买方和卖方是什么意思？

问题如下：

There are several statements regarding the buy side and sell side of the investment industry:
I:     the buy side has a longer horizon
II:    the buy side uses higher leverage.
III:   the sell side has lower turnover
V:    the sell side uses VaR as risk measure.
Which of the following is correct :

选项：

A.

Both I and III.

B.

Both I and V.

C.

Both II and III.

D.

Both II and V.

解释：

B is correct.

考点：Managing Risk With VAR

解析：与sell side相比，buy side：投资期更长，换手率更慢，杠杆率更低。 sell side会使用VaR作为风险管理指标。因此，statement I 正确，II 错误，III 错误，V正确。所以选项B正确。