First investing/trading book I ever read somewhere in late 70's/early 80's was "Anyone can make a million" by Morton Shulman (1966) who if I remember correctly espoused Convertible Bond and Convertible Preferred investment vehicles. Made sense. Had no real money at the time to give it a shot. Sure had time on my side back then. LOL now that I'm much older I daytrade. Go figga.
convertible arbitrage worked in 1980s. It was so easy Ken Griffin did it out of his dorm room and made more money than the average elitetrader (nominal dollars). it was a joke. You make your monthly pnl in 10 days and then take a vacation.