These securities have a variety of protections-such as liquidation preferences and voting rights-that provide VCs with downside protection and control.

这些证券有多种保护性措施，比如清算优先权和投票权-这给风投提供了下行保护和控制。

youdao

It dumped $4.4 billion into Merrill last December at $48 per share, but a downside protection clause meant the firm would make money even if the stock plunged to $24.

淡马锡去年12月以每股48美元的价钱向美林注入了44亿美金，但下跌保护条款使得淡马锡仍有钱赚，即使股票价格下探到24美元。

youdao

Where possible we also like the flexibility to buy put options at the market index level, again for downside protection.

如有可能，我们同样也愿意在市场指数的水平上购买认沽期权，以进行下跌保护。

youdao

The parameters of the spread indicate that the investor is looking for downside protection through expiration in July.

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So why would you ever make a trade that has limited upside and limited downside protection?

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But there is a price for that downside protection: underperformance when markets rise sharply.

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