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OpenQuant Newsletter - Edition #34
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.
📰 Quant Whale Enters the Credit Market | Acadian Asset Management is entering the world of quant-powered debt investing, starting with trades in corporate bonds.
📰 Point72 Doubles Down on Crypto Thesis | The Hedge Fund is growing its crypto arm in Paris and is actively recruiting quantitative developers to join the team.
Our Top Internships
✨ Transamerica - Data Science Intern | an American holding company for various life insurance companies and investment firms.
✨ XTX Markets - Research Intern | a leading algorithmic trading firm that seeks to automate all aspects of the business.
Our Top Full-Time Positions
✨ Engineers Gate - Quantitative Equity Researcher | a quantitative investment company focused on computer-driven trading in global financial markets.
✨ BlueCrest Capital Management - UI Developer | a British-American hedge fund focused on fixed-income macro trading.
✨ Vanguard - Principal Applied Data Scientist | a federally chartered, limited-purpose trust company based in Pennsylvania.
✨ Millennium Management - Research/Trading Developer | an investment management firm with a multistrategy hedge fund offering.
📆 Point72 Academy Spring Insight Program - London | a program designed to expose undergraduate students to the possibility of a career in investing.
📆 Mako Trading Graduate Program | Register your interest in Mako’s graduate trading program for 2024.
🚀 [Quant Researcher] An Introduction to Statistical Learning in Python | The bible of machine learning rewritten to feature code samples in Python.
🚀 [Quant Researcher] Causal Inference for the Brave and True | An overview of the common methods used in causal inference with examples written in Python.
🚀 [Quant Trader] Parity Zetamac | Zetamac style practice game to learn the foundations of options pricing theory.
Weekly Quant Puzzles
Question #1 - Probability
A baby is learning to walk with the assistance of its living room couch. The baby starts at the couch and at each given time the baby will make a decision. It will either take a brave step forward, stand in place not knowing what to do, or fearfully take a step back towards the couch with probabilities 0.20, 0.50, and 0.30 respectively. The baby will never go behind the couch (so when on the couch the baby has a probability 0.20 of moving forward and a probability 0.80 of staying on the couch).
If you were to observe this baby for an extremely long amount of time, what proportion of the time would the baby be on the couch?
Question #2 - Statistics
Randomly choose a coordinate (x, y, z) on the unit sphere. What is the variance of the z-coordinate?
Quote of the Week
"If past history was all there was to the game, the richest people would be librarians."
- Warren Buffett