OpenQuant Newsletter - Edition #180
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
📰 Hedge Fund Trader Kassam Readies a Billion-Dollar Millennium Cub | Farzad Kassam, a senior macro portfolio manager at Millennium Management, is preparing to start his own outfit with backing from Izzy Englander’s multistrategy firm.
📰 Man Group Assets Hit All Time High After Bumper First Half | Man Group hit a 16yr high after the company’s assets jumped in the first half of the year as clients put money into the firm’s long-only investment strategies, according to Bloomberg.
Our Top Internships
✨ Virtu Financial - 2027 Internship- Hardware Engineer (FPGA) | a global financial services and trading firm that specializes in high-frequency market making.
✨ Radix Trading - Quantitative Technologist (C++ Intern) | a private high-frequency proprietary trading and quantitative research firm.
✨ BlackEdge Capital - Quantitative Developer Intern | a trading firm based in Chicago that specializes in options market making and liquidity provision.
Our Top Full-Time Positions
✨ Hudson River Trading - Data Strategist | a multi-asset class quantitative trading firm that provides liquidity on global markets and directly to our clients.
✨ Pimco - Quantitative Research Analyst | a major global investment management firm specializing in active fixed-income markets.
✨ Virtu Financial - Machine Learning Engineer | a global financial services and trading firm that specializes in high-frequency market making.
✨ Radix Trading - Quantitative Researcher (Full-Time - PhD+) | a private high-frequency proprietary trading and quantitative research firm.
Upcoming Events
📆 Voloridge - Ascend Program | a program that brings together early undergrad and Ph.D. students to work closely with Voloridge researchers/traders.
📆 Jane Street - IN FOCUS | a program that invites undergrad and grad students to understand how we solve challenges at Jane Street.
Educational Resources
🚀 [Quant Trader] Harvard, Statistics 110: Probability | a free online course by Joe Blitzstein covering the foundations of probability.
🚀 [Quant Developer] A Day with Jonathan, a Software Engineer Intern at Citadel | a day in the life of a Software Engineer intern at Citadel.
🚀 [Quant Researcher] An Overview of Data Scientist Archetypes in the AI Era | an article covering how the data scientist role has evolved with AI.
Weekly Quant Puzzles
Question #1 - Statistics
Imagine you are given a standard deck of 52 cards (half of the cards are red and the other half are black). A run is defined as a block of cards that are drawn consecutively and all have the same color. As an example, BBRRBBB has 3 runs.
Part 1
Find the expected number of runs in a shuffled deck of cards.
Quote of the Week
“I don’t prompt Claude anymore. I have loops running ... prompting Claude and figuring out what to do. My job is to write loops.” - Boris Cherny