Established in 2016

Our purpose is to provide timely intelligence to suit the needs of each client in support of their investment decisions.

Belo Investment Research is an independent research company that combines traditional and alternative data to analyze market trends. Belo Investment Research's team of data scientists, economists and journalists source data and provide quantitative intelligence to deliver tailored support to the investment process. Through original research, Belo Investment Research answers sensitive and high impact questions that fundamentally affect securities prices.


CEO & Founder

Paulino Oliveira is the founder and Managing Director at Belo. He holds a M. Sc. in Financial Engineering from the Tandon School of Engineering, a Certificate in Business Administration (CBA) with an emphasis in International Trade from the Brazilian Capital Markets Institute (IBMEC), and a Bachelor's in Economics from PUC Minas.

Head of Technology

Carlos Pinto is Head of Technology at Belo. He holds an undergraduate degree in Computer Engineering from the Military Institute of Engineering. Former Army officer, he is a seasoned Python developer, currently responsible for coordinating the wide range of data engineering activities in the company.

Head of Data Journalism

Maria Amélia Ávila is Head of Data Journalism at Belo. She holds Master's of Social Communication from Universidade Federal de Minas Gerais, a Certificate degree in Communication and Business Management by PUC Minas and a Bachelor's in Journalism from Faculdade da Cidade in Rio de Janeiro.

Head of Research

Gustavo Peconick is the Head of Research at Belo. Holds a Bachelor's Degree in Computational Mathematics (Universidade Federal de Minas Gerais) and a specialization in Data Science (Johns Hopkins University).

Head of Projects

Renato holds a master's degree in Innovation and Technological Entrepreneurship from the University of Porto and an MBA from Fundação Getúlio Vargas. He graduated in Computer Engineering from the State University of Campinas. Renato has worked in fast-paced and complex technological and corporate environments, in the financial market, and in startups.

Integration Manager

Bernardo Fares Neiva, lawyer, graduated from PUC-Minas, with a LLM from Washington University in St. Louis, USA; he was a lawyer at Mattos Filho, Veiga Filho, Marrey Jr e Quiroga Advogados, and Souza, Cescon Avedissian, Barrieu e Flesch Advogados and at Vale S/A and VLI S/A; was a COO at Fazenda Alegria and is a managing partner of edtech Plantaforma do Campo Ltda.

HR Coordinator

Julita Vieito has a degree in Psychology from PUC Minas. She has an MBA in Human Resources from IPOG and a post-graduate degree in Public Management from Anhanguera.

Administrative Financial Manager

Camila is the administrative financial manager at Belo. She holds a post graduate degree from Fundação Dom Cabral in Business Management and a Bachelor’s degree in Production Engineering from UNA.



Our purpose is to provide timely intelligence to suit the needs of each client in support of their investment decisions.


We are committed to meeting deadlines, developing sharp and focused research, as well as maintaining the confidentiality of analyses in line with the most rigid compliance measures.


As pioneers in alternative data investment research, we seek to contribute to the development of this practice both in Brazil and internationally, making financial markets more efficient, improving economic productivity and overall quality of life.

Get in touch



+1 (917) 476 2086


+55 31 99549 4174


+55 31 3654 4305