Latest news with #PDX
Forbes
19-07-2025
- Business
- Forbes
Here's Why Chasing The Highest Yields Can Be The Wrong Investment
Avoid These Mistakes write on a book isolated on Office Desk. Stock market concept Think back three months: The market was in the throes of the 'tariff terror.' Us? We were doing what we always do: sifting out overly beaten down closed-end funds (CEFs) with huge yields. Today, the stock market is doing the opposite of what it was back then—levitating from all-time high to all-time high. And we're still finding bargain-priced dividends. Right now, some of the best ones are in corporate-bond CEFs. Let's keep at it now by zeroing on two corporate-bond CEFs that are still undervalued—though one much more than the other. On average, they yield north of 9%. 2 PIMCO CEFs Surge After Tariffs I mention the April tariff crash for a reason: In an April 17 article (published as trade confusion reigned), I focused on two oversold PIMCO corporate-bond funds that, at the time, yielded 10.1% between them. Those were the PIMCO Dynamic Income Strategy Fund (PDX)—currently a holding in our CEF Insider service—and the PIMCO Access Income Fund (PAXS). Since April 17, PAXS (in orange below) and PDX (in purple) have bounced, posting a nearly 12% average total return, based on their market prices. But the gains have been lopsided. PDX Outperforms We'll talk about that gap more in a second. First, let's dig into the dividends, since they're usually investors' No. 1 reason for buying CEFs. PIMCO Table If you'd bought these CEFs on April 17, you'd have gotten a 10.1% average yield. Here too, the gap was quite big between the funds, with PAXS yielding over 12% at the time. Note that these funds' average yield has fallen due to price gains (as prices and yields move in opposite directions), though PAXS's yield is still near where it was in April, at 12%. In other words, the fund's smaller market-price gains mean it still offers a lot of income. This is takeaway No. 1 in CEF investing: The higher yielder isn't always the bigger short-term winner. In fact, it's often the opposite: Many investors fear all big yields—even many CEF investors. (There's really no excuse for that, since many CEFs have offered 10%+ yields for years without major payout cuts). As a result of that fear, lower-yielding CEFs tend to bounce higher than bigger payers after a market panic. So PDX's outperformance is no surprise. But there's something else going on with these funds' net asset values (NAVs). NAV is a measure of a CEF's portfolio performance: Since CEFs have fixed share counts, their NAV and market-price performance usually differ. A market price below NAV results in the 'discount to NAV' that we CEF buyers covet. PIMCO Total Returns Over the past year, PAXS (in orange above) and PDX (in purple) have posted similar total NAV returns, with PDX edging ahead. That's not too surprising, as both funds invest in a mix of credit assets and have overlapping management teams. However, some aspects of PDX's portfolio, like a focus on energy and oversold floating-rate credit, drove its outperformance (including that spike in early 2025) at different times over the last 12 months. In the future, we can expect both funds to keep recovering, mainly because of their discounts to NAV. PIMCO Discount Both funds trade at discounts as I write this, with PDX's markdown being much bigger, at 7.1%. That makes the fund the more appealing choice between these two, even with its lower yield. I expect PDX's closing discount to result in a bigger total return than we'd get from PAXS in the long term, even if that discount is rangebound today. However, PAXS isn't a bad fund, with the market's continued gains spurring a bigger appetite for risk and income. As more investors look to CEFs, we should see more demand for those with the highest yields, and 12%-paying PAXS is nicely set up to benefit from that. PAXS's portfolio mix of leveraged-credit investments should allow its NAV to keep climbing in a rising market. That, in turn, would attract more investors and bring the fund's tiny discount to a premium. This wouldn't be unprecedented, since PAXS was trading at a double-digit premium less than a year ago. In fact, a premium is likely for both funds in the longer term, since they both operate under the PIMCO name, and PIMCO CEFs tend to trade at large premiums. There are lots of reasons for this, including the fact that investors generally don't like to sell PIMCO funds because they often do outperform, and the company aggressively courts the ultra-rich in California via wealth managers. As a result, many shares of these funds sit in accounts and aren't traded very much. In the past, in fact, I've seen premiums on PIMCO funds shoot as high as 40%! Could PAXS or PDX see that type of premium? It's possible, though it will likely take years—though these funds' current high payouts would make the wait a pleasant one. Michael Foster is the Lead Research Analyst for Contrarian Outlook. For more great income ideas, click here for our latest report 'Indestructible Income: 5 Bargain Funds with Steady 10% Dividends.' Disclosure: none
New Straits Times
30-06-2025
- New Straits Times
Cops swoop for realistic looking toy guns, rifles in KL, two states
KUALA LUMPUR: Federal police have launched another sting operation on authentic-looking "toy" guns and rifles following raids in three states today. One of the raids, in Kepong, saw police seize a house full of these imitation firearms. Internal Security and Public Order Department Wildlife Crime Bureau/Special Investigations and Intelligence (WCB/PSK) deputy director Senior Assistant Commissioner Zairulnizam Mohd Zainuddin @ Hilmi said the raid led to the arrest of two men and a woman from an East Asian country. "Our investigations revealed that the three were believed to be in charge of storekeeping and distributing these items to interested buyers here. "When we checked the house in Taman Megah, Kepong, we found boxes upon boxes containing these so-called toys inside. "Based on the sheer amount of boxes here, we believe that the demand for these firearms is high in Malaysia," he told reporters at the scene. Zairulnizam said they believe the three are linked to a syndicate based in their home country, where the toys are believed to be manufactured. He said these toy firearms resembled M4, AR15, ARP9 and PDX assault rifles; a Heckler & Koch MP5 submachine gun; and, a Walther P99 pistol, the same kinds police use. "We also found toy firearms which resembled Glock17, Browning, CZ and Sand Viper pistols as well a harpoon gun and various cross-bows. "Some of them are made from metal and look and feel like real guns. The harpoon gun is capable of shooting spears which can cause serious injury to people," he said adding that they also found ball-bearings at the premises. He said they gathered intelligence and monitored the activities of these suspects for a month before launching the operation today at around 7am. "These suspects were believed to be selling the items through live social media sessions as well as TikTok. "Our personnel are now combing through the seizures to determine just how many of these toy firearms have been seized from these raids," he said. Zairulnizam said more details — including those concerning the raids in the other two states — would be revealed in a statement tomorrow. He said police would also obtain a list of all those who have purchased these "toys". "We do not want these imitation firearms to fall into the hands of irresponsible parties who end up using it to commit crimes. "We will gather information on those who have purchased these toy guns and will go after them as well. So if you do not dispose of them soon, do not be surprised if we come knocking on your door," he said.
Yahoo
12-06-2025
- General
- Yahoo
This Traveler Was Woken Up on a Red-eye Flight After a Neighbor Started 'Slapping' His Head—and It Happened More Than Once
An airline passenger was woken up on a red-eye flight by another passenger slapping their head, according to a Reddit post. Unruly and disruptive passenger behavior is on the rise, according to the FAA. Disruptive airline passenger behavior is going viral on social media. During a recent red-eye overnight flight between Portland, Oregon (PDX), and Newark, New Jersey (EWR), a passenger claims that the person behind him repeatedly "slapped" his head to wake him up and caused a large amount of noise and commotion during the quiet flight. The experience was shared on Reddit, where the passenger detailed how the person seated behind him, in first class nonetheless, repeatedly tapped and slapped the person's head and hat to awaken him to help retrieve a lost earbud. 'What makes a person think they are allowed to touch another person?' the passenger shared in the post. Worst of all, after several minutes had passed, the passenger slapped the person again to let him know he had found the missing device, waking him up a second time. 'If you need anything else from me on this flight, the one thing you WON'T be doing is putting your hands on me again,' the writer shared in their post.'That's fair,' the disruptive passenger allegedly replied back. Within the comment section, fellow travelers commended the traveler for their relative patience despite the troubling circumstances."Handled it better than I would have, Kudos," one person wrote in the passengers said they would have flagged a crew member after the first incident. Unruly and disruptive passenger behavior is on the rise, according to data collected by the International Air Transport Association. The agency recorded more than 24,500 incidents globally in 2023, which was 1 in 480 flights, versus 1 in 568 flights in the United States, the FAA has referred more than 300 serious cases of unruly passengers to the FBI since 2021, according to a release. These cases included physical assault of travel companions, other passengers, crew members, and other "aggressive behavior."As a way to deter unruly and disruptive passengers, the FAA has developed a series of clever memes and social media graphics. Several of the graphics emphasize that FAA fines can total above $37,000 and include suspension of flight privileges. Read the original article on Travel & Leisure
Yahoo
04-06-2025
- Entertainment
- Yahoo
Portland rapper's music festival will bring artists like Thundercat, Zack Fox to Troutdale
PORTLAND, Ore. () — An Oregon music festival that had its inaugural year in 2024 will be back this summer, and with another exciting lineup. it will return to McMenamins' Edgefield Lawn on Saturday, Sept. 13 and Sunday, Sept. 14. Aminé, the Portland native and Grammy-nominated rapper behind the event, will headline again this year. Portland's The Sports Bra reveals cities that will open new locations The lineup also features record producer and singer Thundercat, afrobeats artist Amaarae — who recently opened for pop star Sabrina Carpenter on her 'Short n' Sweet' tour — and St. Louis rapper Smino. Other performers include rapper Mike, 'Abbott Elementary' star and DJ Zack Fox, singer-songwriter Chlothegod and Portland DJ SoundsByDontā. In addition to Benson High School alum Aminé, brought out artists like Kaytranada, R&B musician Ravyn Lenae and indie-pop's Toro Y Moi. It also offered festival merchandise like tote bags, t-shirts that read 'I heart PDX' and blankets. Although the event lineup was just revealed on Tuesday, The Best Day Ever 2025 was first teased along with concert dates for Aminé's upcoming Tour De Dance. His tour begins with the Troutdale festival and ends with a December show in Stockholm, Sweden, in support of his new album '13 Months of Sunshine.' Tickets are already available for the other tour dates, but tickets for The Best Day Ever will be available starting with the pre-sale this Thursday at 10 a.m. The general sale begins on Friday at 10 a.m. Portland Bread Fest founder opening 'bread-centric' bakery Last year, two-day festival passes cost $225. Event organizers also offered one-day passes at a cheaper cost, but they have yet to reveal which artists will perform on each day. The Portland area's other summer music events include the Waterfront Blues Festival during Fourth of July weekend, Project Pabst in late July and Pickathon from late July to early August. Tickets are already available for these festivities. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Business Wire
06-05-2025
- Business
- Business Wire
Propel Software Expands Visibility and Heightens Confidence for Advanced Decision Making Along the Product Thread
REDWOOD CITY, Calif.--(BUSINESS WIRE)--Propel, creator of the first product value management (PVM) platform to transform how businesses create, market, sell, and service products, today announced availability of its Spring 2025 release. This new release improves decision-making, accelerating go-to-market readiness, and strengthening enterprise compliance across the product lifecycle. Propel Software Expands Visibility and Heightens Confidence for Advanced Decision Making Along the Product Thread Share Propel's newest release gives product companies the tools to move faster, collaborate more effectively, and maintain compliance without sacrificing agility. Key enhancements include: Product Completeness - Improve coordination and collaboration between product and commercial teams with Propel's Product Completeness Scorecard indicating whether a product is prepared for market entry, enhancing speed and alignment in launch execution. Mobile training - Reinforce training compliance, empowering teams with on-the-go mobile access to training through the Salesforce app on all Android and Apple phones and tablets. Product companies can enable continuous compliance across roles and geographies ensuring company-wide adherence without disrupting productivity. Change Impact Reporting - Fully understand the impact of product changes – from parent to affected items – with change impact reporting that provides change context to the object and product. 'From engineering and compliance to product marketing and sales, Propel's Spring '25 release ensures teams will deliver innovative products to market, faster and smarter,' said Eric Schrader, Chief Product Officer, Propel. 'We're streamlining collaboration across the enterprise by replacing out-dated or manual, multi-step processes with a single unified product thread - reducing risk, complexity, and cost.' Other Spring '25 release enhancements include PDX support for sharing multi-level product data with supply chains to prevent delays; workspace search helping approvers quickly locate project stages requiring input; expanded export options for where-used and BOM comparisons, making it easier to evaluate the impact of changes; and bulk item generation, allowing users to create multiple item numbers by category and export them via .csv for use in downstream systems or external processes. Users can also reduce storage costs by leveraging their existing AWS S3 buckets for enterprise file storage, aligning with internal backup and retention policies. The latest Propel Software release is now available for existing customers and new implementations. For more information, visit About Propel Software Propel helps product companies grow revenue and increase business value. Our product value management platform connects commercial and product teams to optimize decision making, drive process efficiencies, and engage customers with compelling products and experiences. Propel has a proven track record of improving product quality, speeding time to revenue and profit, and improving customer satisfaction. Recognized as one of America's fastest growing private companies on the Inc 5000, Propel is also a Deloitte Technology Fast 500 winner, and one of Fortune America's Most Innovative Companies. Built on Salesforce, Propel drives product success for hyper growth startups, corporate pioneers, and Fortune 500 leaders in the high tech, medtech and consumer goods industries. For more information, visit and follow us on LinkedIn.
