Regional lenders Truist and Fifth Third have paused distribution of products tied to billionaire financier Mark Walter’s biggest insurance firm, according to people with knowledge of the decisions bloomberg.com/news/articles/…

Today, Pershing Square Inc. (PSI), an alternative asset management company, filed to go public along with Pershing Square USA, Ltd. (PSUS) a new closed ended investment company managed by Pershing Square.    In the combined offering, investors in the IPO of PSUS will receive shares in PSI for no additional consideration. For example, if an investor buys 100 shares of PSUS in the IPO, they will receive 20 shares of PSI at no additional cost.    I explain the transaction in detail in a letter that can be found here:   sec.gov/Archives/edgar/data/… [sec.gov]   The prospectus for PSI can be found here:   sec.gov/Archives/edgar/data/… [sec.gov]   And the prospectus for PSUS can be found here:   sec.gov/Archives/edgar/data/… [sec.gov] The PSI and PSUS Registration Statements have not yet become effective.  The securities described therein may not be sold, nor may offers to buy be accepted, prior to the time the Registration Statements become effective.  Before you invest in the combined offering, you should read the Registration Statements for more complete information about the PSI, PSUS, and the combined offering.

The @Citrini7 selloff

Kind of incredible. Reading through the Blue Owl earnings call, how different what they're saying is vs. how the market is behaving.