OpenQuant Newsletter - Edition #106
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
📰 China Quant Says Funds Must Adopt AI to Survive After DeepSeek | DeepSeek’s success is intensifying pressure on China’s hedge funds to embrace AI or risk becoming obsolete, according to Feng Ji, CEO of Baiont Quant.
📰 Credit Suisse Said to Spin Out $1 Billion Quant Hedge Fund | Credit Suisse Group AG’s asset management business plans to spin out a $1 billion quantitative hedge fund later this year called the Qube Fund.
Our Top Internships
✨ Quadrature Capital - Quant Developer Intern | a London-based investment management company that uses technology and data to trade assets globally.
✨ Citadel - Quantitative Researcher, PhD Intern | a multinational hedge fund and financial services company that manages assets for institutional investors.
✨ Galaxy - Derivatives Engineer Intern | a digital asset and blockchain leader helping institutions, startups, and individuals shape a changing economy.
✨ Glencore - Summer Intern, Oil Analytics | one of the world's largest globally diversified natural resource companies.
Our Top Full-Time Positions
✨ Bridgewater Associates - Investment Engineer | a premier asset management firm, focused on delivering unique insight and partnership for global investors.
✨ Millennium Management - Quantitative Researcher, Multi-Asset | a global, diversified alternative investment firm.
✨ Wolverine Trading - Low-Level C++ Performance Engineer | a proprietary trading group engaged in market making and valuation arbitrage across markets.
✨ Wolverine Trading - Quantitative Trader, High Frequency Futures | a proprietary trading group engaged in market making and valuation arbitrage across markets.
Upcoming Events
📆 Jane Street AMP | a five-week summer program for recent high school graduates interested in math and computer science.
📆 Jane Street Virtual Info Session on Sales & Trading | learn about what a career in sales & trading entails at Jane Street.
Educational Resources
🚀 [Quant Trader] The Statistics of Sharpe Ratios | a paper covering the statistical properties of Sharpe ratios and their implications.
🚀 [Quant Researcher] Common Pitfalls when Building Gen AI Applications | a quick note with examples of some of the most common pitfalls when using generative AI.
🚀 [Quant Developer] Ruxel - Building a Ray Tracer with Rust | a step-by-step article on how to build a ray tracer with the Rust programming language.
Weekly Quant Puzzles
Question #1 - Brainteaser
You are given a pile of 100 coins. You may arrange these coins into however many stacks you want and you may put as many coins into each stack as you would like. Your payout would be the product of the number of coins among all of the stacks.
For example, if you make three stacks of sizes 20, 20, and 60, your payout is 20 x 20 x 60 = 24000 . The optimal arrangement of the coins will give you a payout of a∗b^c, where a and b are relatively prime. Find a, b and c.
Quote of the Week
“Truth - more precisely, an accurate understanding of reality - is the essential foundation for producing good outcomes.” - Ray Dalio