OpenQuant Newsletter - Edition #100
Quant News, Jobs & Internships, Upcoming Events, Puzzles and More!
Hello, fellow Quants!
Welcome to the OpenQuant newsletter - a publication dedicated to democratizing quantitative finance by sharing the latest news, jobs & internships, educational opportunities, and upcoming events in the industry.
Here’s what we have in this week’s edition:
Quant News - catch up on what’s happening around the quant industry.
Quant Jobs - discover the latest internships/jobs to land your next quant role.
Upcoming Events - find community events to meet fellow quants.
Educational Resources - latest research papers & courses to learn quant concepts.
Quant Puzzle - keep your interview skills sharp with a weekly brainteaser.
News Headlines
📰 Hedge Fund Polar Asset Grows Team After Best Returns Since 2020 | Polar Asset Management, one of Canada’s largest hedge funds, is pressing ahead with an expansion plan that included opening a London office and growing headcount by 15%.
📰 Lemssouguer’s Hedge Fund Gains 21% as Assets Near $7 Billion | Former Credit Suisse star trader Hamza Lemssouguer’s sevenfold assets surge to $7 billion at his own hedge fund (Arini Credit Master Fund) defies hedge fund startup gloom.
Our Top Internships
✨ Two Sigma - Quantitative Researcher Intern | a financial services company that uses data science, technology, and scientific expertise to solve challenges in finance.
✨ Global Atlantic Financial Group - 2025 Risk Data Scientist Intern | a leading retirement and life insurance company offering financial protection products.
Our Top Full-Time Positions
✨ GTS - Quantitative Trader | an American proprietary trading and market making firm headquartered in New York.
✨ Millennium Management - Quantitative Researcher | a global, diversified alternative investment firm with the mission to deliver high-quality returns.
✨ Maven Securities - Options Market Maker | a proprietary trading firm, allocating internal capital between discretionary, systematic and market-making strategies.
✨ Vatic Labs - Quantitative Developer | a quantitative trading firm that uses AI and technology to develop autonomous trading systems.
Upcoming Events
📆 Discover DRW - Chicago | a dynamic event packed with unparalleled networking opportunities, insightful trading lectures, and hands-on quantitative challenges.
Educational Resources
🚀 [Quant Trader] Rationalizing Latency Competition in High-Frequency Trading | an article by Headlands Technologies on the impact latency has in HFT.
🚀 [Quant Researcher] Learn ML Algorithms by coding: Decision Trees | understand how decision trees work by coding them from scratch.
🚀 [Quant Developer] Building ML Systems for a Trillion Floating Point Operations | a tech talk on how to build ML systems at scale.
Weekly Quant Puzzles
Question #1 - Probability
You have a pet cat that has a sly tendency to leave your house while you are away. Every day while you are out, you call your neighbor to ask them whether your cat has left your house. Your neighbor always responds with a yes or a no, but sometimes they lie, saying that your cat left when it has not, or vice versa.
Let's say that the probability that your cat leaves the house is 0.001 and the probability that your neighbor lies is 0.1 (independent of whether your cat actually left the house or not).
What is the probability that your cat left the house given that your neighbor says it did so?
Quote of the Week
“We humans are the victims of an asymmetry in the perception of random events. We attribute our successes to our skills, and our failures to external events outside our control, namely to randomness. We feel responsible for the good stuff, but not for the bad.” - Nassim Nicholas Taleb