Cool Convertibles for the Racy Tech Crowd

If it's not broke, don't fix it. But if it is indeed busted, invest in it.

At least that's what some Wall Streeters are saying about convertible bonds issued by tech companies with hurting stock prices.

Rather than buying shares in tumbling tech companies -- the likes of Aether Systems (AETH Quote), ONI Systems (ONIS Quote), Juniper Networks (JNPR Quote) and Ciena (CIEN Quote) -- investors might consider buying what are commonly known as "busted" convertibles. These are bonds that are exchangeable for common stock, but trading at a price that makes the conversion to stock a long shot for the bondholder. ...