OpenQuant Newsletter - Edition #149

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:

1. Quant News - catch up on what’s happening around the quant industry.

2. Quant Jobs - discover the latest internships/jobs to land your next quant role.

3. Upcoming Events - find community events to meet fellow quants.

4. Educational Resources - latest research papers & courses to learn quant concepts.

5. Quant Puzzle - keep your interview skills sharp with a weekly brainteaser.

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News Headlines

📰 KKR Backs Quant Investing Platform in Mideast Tech Bet | KKR is investing $220 million in Premialab, a global provider of data, analytics and risk management solutions for quant investing, marking its first growth tech deal in the Middle East.

📰 Citadel to Return $5 Billion of Hedge Fund’s Profits to Clients | Ken Griffin’s Citadel will return about $5 billion of profits earned this year, bringing its assets under management to $67 billion, according to Bloomberg.

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Our Top Internships

✨ CIBC - Summer 2026 Risk & Data Intern | a major Canadian multinational banking and financial services company.

✨ PineBridge Investments - 2026 Summer Consultant, Quant Research | a private, global asset manager focused on active, high-conviction investing.

✨ PineBridge Investments - 2026 Summer Intern, Technology | a private, global asset manager focused on active, high-conviction investing.

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Our Top Full-Time Positions

✨ Voloridge - Quant Trader | a quantitative investment management firm that uses data science, mathematics, and technology to develop market-neutral strategies.

✨ Radix Trading - Quantitative Researcher | a proprietary trading firm that specializes in quantitative research and the development of trading strategies.

✨ Pimco - Senior Developer | a global investment management firm and a leader in active fixed income.

✨ Millennium - Quantitative Researcher, Systematic Macro | a global, diversified alternative investment firm with the mission to deliver high-quality returns.

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Upcoming Events

📆 Jane Street SEE Program | an opportunity to meet Jane Street employees and learn how math and computer science have a real-world impact on the work they do.

📆 IMC Trading PhD Fellowship | receive $50,000 towards education-related expenses and receive an option to participate in a 2027 summer internship at IMC Trading.

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Educational Resources

🚀 [Quant Researcher] Build a Large Language Model (From Scratch) | a step by step guide on how to create your own LLM from scratch.

🚀 [Quant Developer] Making Deep Learning Go Brrrr From First Principles | an article on how to optimize deep learning performance.

🚀 [Quant Trader] OpenQuant Online Assessment | a 30-minute exam closely mirroring the format of online assessments used by quant trading firms.

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Weekly Quant Puzzles

Question #1 - Probability

A three-man jury has two members each of whom independently has probability p of making the correct decision and a third member who flips a coin for each decision (majority rules). A one-man jury has probability p of making the correct decision. Which jury has the better probability of making the correct decision?

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Quote of the Week

“Far more money has been lost by investors trying to anticipate corrections, than lost in the corrections themselves.” - Peter Lynch