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Calamos - Coggle Diagram

- - - - pays periodic interest (coupon) and has a maturity date
      - downside protection because bondholders have priority over shareholders in case of liquidation
    - - Conversion feature allows bondholder to exchange the bond for shares at a fixed conversion ration
      - If the company's stock rises a lot, bondholder can benefit from the equity upside
- - - - Long/short equity: taking both bullish and bearish positions
      - Market Neutral: Hedging out market risk
      - Managed Futures: Trend=following across asset classes
      - Global Macro: Investing based on macroeconomics themes
      - Event Driven: Capitalizing on corporate actions like mergers
    - - Reduce correlation to traditional stocks and bonds
      - Provide downside protection and smoother returns during market stress