OpenQuant Newsletter - Edition #122
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
📰 Schonfeld Backs Abu Dhabi Hedge Fund Startup With $500 Million | Schonfeld Strategic Advisors is backing a new hedge fund in Abu Dhabi, allocating about $500 million to Omar Newera, a former Waha Capital portfolio manager.
📰 Billionaire Gerko Takes Trader Profit Tax Appeal Over to UK’s Top Court | Alex Gerko took a legal challenge to the country’s highest court arguing that British tax authorities were imposing “massive double taxation” on deferred trading profits.
Our Top Internships
✨ Citadel Securities - Trading Fundamental Analyst Intern | a global market maker that provides liquidity to financial institutions and individual investors.
✨ DE Shaw - Proprietary Trading Intern | a global investment and technology development firm founded in 1988.
✨ Garda Capital Partners - Trading Analyst Intern, Inflation | an asset management firm specializing in global alternative investment strategies.
✨ Qube Research & Technologies - Internship, Research | a global quantitative and systematic investment manager that operates across all liquid asset classes worldwide.
Our Top Full-Time Positions
✨ Wincent - Senior Quantitative Researcher | a leading crypto market maker with $3B+ daily volume and 300K+ daily transactions.
✨ Schonfeld - Optimization Quantitative Researcher | a global multi-manager platform investing capital with Internal and Partner portfolio managers.
✨ Virtu Financial - Software Engineer - Trading Strategies | a leading financial firm that leverages cutting-edge technology to deliver liquidity to the global markets.
✨ Chicago Trading Company - C++ Software Engineer | a proprietary derivatives trading firm founded in 1995.
Upcoming Events
📆 6/28 Jane Street Bay Area MegaGem | learn and play a competitive card game alongside Jane Street traders.
Educational Resources
🚀 [Quant Trader] The Theory of Poker | a book by a professional poker player discussing theories and concepts applicable to nearly every variation of the game.
🚀 [Quant Developer] Distributed Computing Musings | deep dive into distributed computing concepts through a series of articles.
🚀 [Quant Researcher] Software in the Era of AI | a talk by Andrej Karpathy on software 3.0 where natural language becomes the new programming interface.
Weekly Quant Puzzles
Question #1 - Probability
A standard white 3 x 3 x 3 rubik’s cube is dipped into paint so that its entire external surface is colored red. Then, we explode the rubik’s cube, sending all 27 unit cubes flying everywhere. We inspect one in particular, which is lying face down. No faces are red.
What is the probability that this cube was the center one?
Quote of the Week
“The first thing you learn on the trading floor is that when large numbers of people are after the same commodity, be it a stock, a bond, or a job, the commodity quickly becomes overvalued” - Michael Lewis, Liar’s Poker