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1·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。

2·The Fed provides downside protection and there is no effective limit on the amount or nature of risks that the private financial sector can take.

美联储提供了下行保护，从而对于私营金融部门能够承受的风险数量或者风险本质没有有效限制。

3·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。

4·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。

5·Convertible bonds Convertible bonds can be viewed as offering investors the best of both worlds - access to the upside potential of equities, but with a similar level of downside protection to bonds.

根据债券合同规定可以在一定期限之后，按规定的转换比率或转换价格转换成发行公司股票的债券。可转换债券对投资者和发行公司都有较大的吸引力，它兼有债券和股票的优点。