Convertible securities are a type of investment that can be changed into shares of a company's stock. The article discusses the characteristics of convertible bonds and new types of equity-linked securities. It also covers related securities like warrants and LEAPS. The research delves into the global market for convertible securities and provides insights into evaluating them, including pricing models and risk assessment. Strategies for investing in convertible bonds and preferred securities are explored, along with hedging techniques using options. The study emphasizes the importance of a long-term perspective when using convertible securities to raise capital.