OpenQuant Newsletter - Edition #39

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

📰 BNY Mellon looks to gain footing in the multi-manager hedge fund sector | the firm has raised $11bn for its Lond-based investment boutique Newton Investment Management.

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Our Top Internships

✨ KeyBank - Middle Market Internship | an American regional bank headquartered in Cleveland.

✨ Korn Ferry - Actuarial Summer Internship 2024 | a global organizational consulting firm serving risk/insurance clients.

✨ American AgCredit - Model Risk Management Intern | a firm that offers a broad range of agricultural loan, leasing, and insurance services.

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Our Top Full-Time Positions

✨ DRW - Data Scientist, Commodities | a diversified trading firm bringing sophisticated technology and exceptional people together.

✨ Millennium Management - Quant Researcher, Commodities | a global investment management firm, built on a sophisticated operating system at scale.

✨ AllianceBernstein - Pricing Operations Analyst | a global asset management firm providing investment management and research services worldwide.

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Upcoming Events

📆 1/9 Flow Traders E-House trading day | gain valuable insight into the world of trading with a Trader and Recruiter from Flow Traders.

📆 1/30 Rotman International Trading Competition | an annual event that brings teams of students to participate in a unique 3-day simulated market challenge

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Educational Resources

🚀 [Quant Researcher] Multimodality and Large Multimodal Models | an article detailing the fundamentals of multimodal machine learning systems.

🚀 [Quant Researcher] Casual Inference: The Mixtape | a book conveying the theory and practice of many foundational causal inference methods.

🚀 [Quant Trader] The Importance of Market Makers in the ETF industry | an article highlighting the role Flow Traders plays in the ETF industry.

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Weekly Quant Puzzles

Question #1 - Probability

How many ways are there to seat four of a group of ten people around a circular table where two seatings are considered the same when everyone has the same immediate left and immediate right neighbor?

Question #2 - Probability

A standard white 3 x 3 x 3 rubik’s cube is dipped into paint so that its entire external surface is colored red. Then, we explode the rubik’s cube, sending all 27 unit cubes flying everywhere. We inspect one in particular, which is lying face down. No faces are red.

What is the probability that this cube was the center one?

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Quote of the Week

“What do you call a stock that's down 90%? A stock that was down 80% and then got cut in half” - David Einhorn