OpenQuant Newsletter - Edition #112
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
📰 Man Group Hedge Funds Losing Up To 15% This Year Show Quant Pain | The four main quant money pools run by Man Group, the world’s biggest publicly listed hedge fund firm, lost as much as 7.8% this month, according to the firm’s website.
📰 Quants Winning Against Hedge-Fund Peers Get Slammed by Selloff | The tariff-induced shock unleashed on markets in recent days has been so ferocious that even some of Wall Street’s fastest and most tech-savvy investors have been unable to escape.
Our Top Internships
✨ Calpine - Power Trader Intern | America's largest generator of electricity from natural gas and geothermal resources.
✨ Eigen Labs - Summer Fellowship 2025 | a research organization focused on contributing to protocols that supercharge open innovation on Ethereum.
✨ Voloridge - Quantitative Research Fellowship | a quantitative and systematic investment firm using advanced data science and mathematics
Our Top Full-Time Positions
✨ Jane Street - Quantitative Trader | a quantitative trading firm and liquidity provider with a unique focus on technology and collaborative problem solving.
✨ Jane Street - Quantitative Researcher | a quantitative trading firm and liquidity provider with a unique focus on technology and collaborative problem solving.
✨ IMC Trading - Quantitative Trader (Equity Options) | a global trading firm powered by a cutting-edge research environment and world-class technology.
✨ Five Rings Capital - Experienced Software Developer | a trading firm founded with a vision of combining strategy, innovation & technology in global markets.
Upcoming Events
📆 PyCon US 2025 | the largest annual conference for the Python programming language community.
📆 IMC Quant Research Masterclass | learn the methodologies and frameworks IMC trading uses to turn mathematical insights into real-world trading strategies.
Educational Resources
🚀 [Quant Developer] fast.ai—Making neural nets uncool again | free online courses and resources focused on practical deep learning applications.
🚀 [Quant Trader] The Gambler Who Cracked the Horse-Racing Code | the story of Bill Benter who wrote an algorithm to accurately bet on the outcomes of horse races.
🚀 [Quant Researcher] Quantopian Lectures (statistics/probability) | a series of lectures to learn the statistics behind modern day quantitative research.
Weekly Quant Puzzles
Question #1 - Probability
Suppose you have a deck of 20 cards with values ranging from 1 - 10. Each card appears in the deck exactly twice. You draw 2 cards at a time uniformly at random from the 20 cards. If they match in value, you remove them from the deck. Otherwise, they are put back into the deck. The game finishes once there are no more cards to draw. Each drawing of two cards is a turn. Find the expected number of turns needed to finish the game.
Quote of the Week
“Distinguishing the signal from the noise requires both scientific knowledge and self-knowledge: the serenity to accept the things we cannot predict, the courage to predict the things we can, and the wisdom to know the difference.” - Nate Silver