Dear Mr. Leonardo P. Gomes Pereira, President of the CVM (Brazilian Securities and Exchange
Commission)
This letter refers to deliberation 701, from January 1st 2013, which prevented Hindemburg Melão Jr.
from acting as an investment manager due to the fact that he did not possess certification for exercising
this function. However, let us see what is determined in Article 4, §2 of CVM’s Ruling 306
www.cvm.gov.br/asp/cvmwww/Atos/Atos/inst/inst306consolid.doc:
Ҥ2 CVM may, exceptionally, dispense the fulfillment of the criteria stated item II of this article, as
long as the person concerned holds notorious knowledge and high qualification in a field of
knowledge that capacitates him for the exercise of the management of securities.”
In view of this, we request that you kindly examine the evidence presented below, with the goal of
attesting that Hindemburg Melão Jr. fits in the definition stated in Article 4, §2 of CVM’s Ruling 306:
1. Statements of accounts managed by the artificial intelligence system “Saturno V”, developed by
Hindemburg Melão Jr., which has been in operation since August 18th 2010 (4 years and 3 months).
2. These statements confirm consistent gains, far superior from those obtained by all 283 professional
managers ranked at InfoMoney’s website: http://www.infomoney.com.br/onde-investir/ranking-defundos
3. The level of risk exposure exhibited in Saturno V was less than those undertaken by the
aforementioned professional managers, with an annualized Sharpe ratio of 1.90.
In order to support the arguments presented on item 2, it is also important to mention the following
facts, so as to demonstrate the criterion of notorious knowledge:
1) Hindemburg Melão Jr. holds the world record of the longest announced checkmate in
simultaneous blindfold chess, documented on pages 110-110 of the Brazilian edition of
Guinness Book 1998.
2) He is the author of more than 200 articles about investment (120 in the public section, 200 in
the private section, and 290 in the special section), which includes relevant innovations on risk
management, genetic algorithms, artificial intelligence, adaptive systems, pattern recognition,
strategy development, genotype selection and ranking, strategy validation, etc.
3) Hindemburg is a member of several societies for people of high IQ in countries spanning 5
continents. He is also an honorary member in Pars Society, for people with IQs above the
theoretical rarity level of 1 in 3,500,000.
4) Recently (Nov 11, 2014) invited to give a lecture at the Fields Institute, about Machine Learning
for Big Data is emphasizing Automated Trading Systems on Apr 17, 2015.
5) He has developed innovating works in different fields of knowledge, some of which are
described in the links below.
6) He was the protagonist in a report about intelligence and IQ, shown by a prestigious Brazilian
television program, “Fantástico”.
7) In 2000, Hindemburg classified to represent Brazil in the semi-final of the ICCF’s World Chess
Championship (International Correspondence Chess Federation).
You may find more information, including documents and reports in text and video, in the following
links:
http://www.saturnov.com/sobre-o-autor
http://www.saturnov.com/videos/Fan-page_Melao.htm
https://www.linkedin.com/in/sigma6
About Facts:
Saturno V’s funding partners are licensed to use this software for managing their own resources.
Since August 18th 2010, Saturno V 6.0 and newer versions have been used by some funding partners.
André Gâmbaro, Rodrigo Pereira Gossman, and Guilherme Luiz dos Santos Silva have disclosed their
account statements for this goal.
André Gâmbaro’s account was opened at the broker FXPro in June of 2010, and Saturno V was initialized
on his account in August of 2010. The first trade was executed on August 18th 2010, and the account
remained active until May 9th 2013, accumulating consistent gains in this period. The account was
reactivated on October 2nd 2014 in order to preserve its history, so that it is available for access.
In the end of 2012, trades at FXPro were executing with delays greater than the tolerable limits. So we
conducted tests with other brokers, in order to identify alternatives that could offer better fees and
execution conditions. After assessing the results, on May 9th 2013, we decided to move to SpediaFx.
Hence, the account at FXPro was closed, and the resources were later transferred to SpediaFx.
On July 3rd 2014, we also started trading through the bank and broker Dukascopy, which has been
providing us the best execution conditions up to now.
Accordingly, in order to compose the entire period, we assembled the following account statements:



André Gâmbaro, FXPro, August 18th 2010 to May 9th 2013
Rodrigo Pereira Gossman, SpediaFx, May 9th 2013 to July 3rd 2014
Guilherme Luiz dos Santos Silva, Dukascopy, July 3rd to the present date
All three account statements are attached for verification.
In addition to the statements attached, the account holders have authorized direct access to their
accounts through the brokers themselves. This is shown in the attached powers of attorney, so that
CVM may confirm the truthfulness of the information.
If you would like to access the accounts’ information through the corresponding brokers, please follow
the following steps:
Account held by André Gâmbaro, FXPro, between August 18th 2010 and May 9th 2013:
1. Download and install FXPro’s Metatrader 4:
http://www.fxpro.pt/trading/platforms/mt4/desktop
2. Go under the “File” menu, find “login to trade account”, and click it.
3. Fill in the fields:
a. Login: (request the account older)
b. Password: (request the account older)
c. Server: Real01
4. Click to advance until the process is complete, and the account information is shown.
5. Go to the lower tab and click “account history”.
6. Right-click the list and select “full history”.
7. Right-click the list and select “save detailed report”.
Account held by Rodrigo Gossman, SpediaFx, between May 9th 2013 and July 3rd 2014:
1. Download and install SpediaFx’s Metatrader 4:
http://www.spediafx.com/pt/plataforma/metatrader4/plataforma-mt4
2. Go under the “File” menu, find “login to trade account”, and click it.
3. Fill in the fields:
d. Login: (request the account older)
e. Password: (request the account older)
f. Server: SpediaFx-Real
4. Click to advance until the process is complete, and the account information is shown.
5. Go to the lower tab and click “account history”.
6. Right-click the list and select “full history”.
7. Right-click the list and select “save detailed report”.
Account held by Guilherme Silva, Dukascopy, starting from July 3rd 2014:
1. Download and install Dukascopy’s Metatrader 4:
http://www.dukascopy.com/swiss/pt/forex/trading_login/marketplace_demo_login/
2. Go under the “File” menu, find “login to trade account”, and click it.
3. Fill in the fields:
g. Login: (request the account older)
h. Password: (request the account older)
i. Server: FTT-Live
4. Click to advance until the process is complete, and the account information is shown.
5. Go to the lower tab and click “account history”.
6. Right-click the list and select “full history”.
7. Right-click the list and select “save detailed report”.
The graph and table below show the results of these 3 accounts, in chronological order, from August
18th 2014 to November 8th 2014.
The following table shows the results month-by-month:
The detailed results of each account (every trade executed) can be found in the attached spreadsheet,
both separately as well as with the 3 accounts aggregated in sequence, covering the period of 4 years
and 3 months.
In view of all that was stated, and in conformity with Article 4, §2 of Ruling No. 306, we exceptionally
request that CVM issue an authorization so that Hindemburg Melão Jr. may act as an investment
manager.
Cordially,
The undersigned…