DRUCKENMILLER BETS BIG ON BRAZIL ETF BEFORE RALLY Billionaire Stanley Druckenmiller’s Duquesne Family Office bought ~3.5M shares and call options in the $9.1B iShares MSCI Brazil ETF (EWZ) ahead of its 17% January surge, the best month since 2020. • Rally fueled by a softer dollar, higher commodity prices, and strong gains in Vale SA and Petroleo Brasileiro SA. • Duquesne sold its Argentina ETF holdings. • Optimism persists as Latin American funds expect Brazil’s Ibovespa to climb further in 2026, with global investors increasing exposure via EWZ.(*Walter Bloomberg)