The Calamos Long/Short Equity & Dynamic Income Trust (CPZ) is a mutual fund that seeks to provide investors with a combination of long-term capital appreciation and current income. The fund utilizes a long/short equity strategy, meaning it invests in both long and short positions in stocks, and also incorporates a dynamic income approach, which involves actively managing the fund's income-generating investments. This fund may be suitable for investors looking for a balanced approach to investing, with potential for both growth and income.