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The Convertibles Collapse Offers Investment Lessons for All Investors

Artfull and informative. Very good on credit spread explosion when an illiquid market meets supply and then stays there. Tons of converts remain priced to insolvency without regard to the underlying. Amazing absence of long onlys to fill the void although I notice that Calamos is reopening. Amazing returns to be had if you can correctly identify those "busteds" that yield 10 - 20% down 40% from par that will remain in business.