OpenQuant Newsletter - Edition #32

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

📰 Quant Firms Debate Chicago Emigration Amidst $800 Million Tax Bill | major derivatives trading firms (DRW, CBOE, IMC) in Chicago are considering rebasing to Florida in response to unfriendly economic policies by the Chicago government.

📰 Peak6 Founder Jenny Just, Launches Poker Power | former Peak6 founder has launched Poker Power to teach millions of young women risk management skills through the game of Poker.

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Our Top Internships

✨ DV Trading - Trading Intern | a proprietary trading firm with a significant presence on derivatives and securities exchanges worldwide.

✨ DV Trading - Risk Management Intern | a proprietary trading firm with a significant presence on derivatives and securities exchanges worldwide

✨ Susquehanna International Group - Quantitative Research Intern | a global quantitative trading firm built on a rigorous foundation in financial markets

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Our Top Full-Time Positions

✨ DV Trading - Junior Trader | a proprietary trading firm with a significant presence on derivatives and securities exchanges worldwide.

✨ Trade Terminal - Quantitative Trader | a digital asset manager, relying on a data-driven algorithmic approach with self-constructed databases and research capability.

✨ Bridgewater Associates - Research Associate | a premier asset management firm founded by Ray Dalio in 1975.

✨ Arrowstreet Capital - Fullstack Engineer | a Boston-based investment manager that provides global and international equity investment strategies.

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Upcoming Events

📆 10/11 MathWorks Computational Finance Conference | learn more about the latest finance trends in asset management, AI and quantum, and central banking.

📆 10/11 Two Sigma Columbia University Stats Seminar | learn about how Two Sigma creates systematic tools and technologies to forecast the future of global markets.

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Educational Resources

🚀 [Quant Researcher] Conversation with Peter Brown, CEO of Rentech | CEO of Renaissance Technologies talks about his career and building the hedge fund.

🚀 [Quant Researcher] Two Sigma Undergraduate Scholarship | a $15,000 scholarship that aims to support students pursuing an undergraduate degree in a STEM field.

🚀 [Quant Trader] Flirting with Models, Commodity Strategies | a conversation on strategies including trend following, commodity carry, congestion, and volatility carry.

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Weekly Quant Puzzles

Question #1 - Probability

Suppose you roll a fair 6-sided die until you've seen all 6 faces. What is the probability you won't see an odd-numbered face until you have seen all even-numbered faces?

Question #2 - Probability

You have 999 fair coins, and 1 unfair coin with heads on both sides. You randomly select a coin, and flip it 10 times. Each flip turns heads. What is the probability you chose the unfair coin?

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Quote of the Week

Twyman’s Law: “Any statistic that appears interesting is almost certainly a mistake”

- Paul Dickson