Reverse converts: a nest-egg slasher?

Like the nemesis from an old slasher movie, reverse convertibles are the investment that won't die.

Not long ago, these bond-like securities, which morph into stocks when the underlying share price plunges, were the rage. Investors in 2008 bought almost $7bn (€5bn) of reverse converts, as the securities are known in Wall Street parlance. But stocks' slide late last year and early this year left thousands of investors with steep losses.

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Old-School Floor Traders Finally Get Their Day in Court Against CMEExternal link

Old-School Floor Traders Finally Get Their Day in Court Against CME