OpenQuant Newsletter - Edition #178
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
📰 Citi Shares Drop as CEO Fraser Plans Deeper Job Cuts This Year | Citigroup Inc. shares slumped after the bank’s top executives said they plan to bring forward job cuts and key technology investments, moves that could increase costs later this year.
📰 Citadel Data Shows Retail Inflows Hit Near Record Highs Despite Option Fatigue | Retail investors are continuing to pour money into US equities at one of the fastest paces on record, even as signs of dip-buying fatigue are starting to surface.
Our Top Internships
✨ Hudson River Trading - Algorithm Development Internship (2027) | a quantitative trading firm headquartered in New York City.
✨ Flow Traders - Quantitative Trading Intern (2027) | a leading global proprietary trading firm and liquidity provider.
✨ Five Rings Capital - Quantitative Trader Intern (2027) | a quantitative proprietary trading firm founded in 2009.
✨ Five Rings Capital - Software Developer Intern (2027) | a quantitative proprietary trading firm founded in 2009.
Our Top Full-Time Positions
✨ Hudson River Trading - Algorithm Developer | a quantitative trading firm headquartered in New York City.
✨ Flow Traders - Institutional Trader | a leading global proprietary trading firm and liquidity provider.
✨ Five Rings Capital - Quantitative Trader | a quantitative proprietary trading firm founded in 2009.
✨ Five Rings Capital - Software Developer | a quantitative proprietary trading firm founded in 2009.
Upcoming Events
📆 Point72 - Fundamental Research Fellowship, Canvas | a 6-month intensive fellowship offering experience in research, business analysis, and collaboration.
Educational Resources
🚀 [Quant Trader] Akuna Options 101 | learn the intricacies of options trading including pay-off diagrams, volatility, and option screens.
🚀 [Quant Researcher] 3Blue1Brown - But what is cross-entropy? | an overview of where the loss function for training LLMs comes from.
🚀 [Quant Developer] Harness Engineering for Self-Improvement | how future AI progress will come from systems that can auto improve their own harnesses over time.
Weekly Quant Puzzles
Question #1 - Probability
Two players take turns rolling two six-sided dice. Player A goes first, followed by player B. If player A rolls a sum of 6, they win. If player B rolls a sum of 7, they win. If neither rolls their desired value, the game continues until someone wins. What is the probability that player A wins?
Quote of the Week
“When you develop your opinions on the basis of weak evidence, you will have difficulty interpreting subsequent information that contradicts these opinions, even if this new information is obviously more accurate.” - Nassim Nicholas Taleb