Bill Ackman Says 'We Favored Retail Over Institutions,' Explains PSUS Price Drop Wasn't Retail's Fault -

Summary

Billionaire hedge fund manager Bill Ackman has that he was clarifying why his newly listed closed-end funds, Pershing Square USA (PSUS) and Pershing Square Inc. (PS), slid after listing, pointing to how late-day trading mechanics collided with an unusually retail-heavy allocation.