Indeed, it is hard not to find the convertible securities the more attractive alternative.

The difference is in the treatment of stock options, warrants and some convertible securities.

Of course, there are still risks to consider when acquiring convertible securities.

Aetna's convertible security, however, fell only 19 percent during that time.

Most recently, common stocks and convertible securities accounted for 60 percent of total assets.

Some financial advisers say most investors do not need convertible securities.

Capital notes are a form of convertible security exercisable into shares.

To help raise cash, the company said it would soon make an offering on the public markets, probably in the form of a convertible security.

That leaves them with a paper loss of about $1 billion, valuing the convertible securities at face value.

That's because it owned no bonds, just convertible securities and stocks.