OpenQuant Newsletter - Edition #42
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
📰 Citadel Alum Raises Billions for a New Firm | former Citadel employee Todd Barker has raised $3.5 billion for his new multi-manager firm.
📰 McKinsey forecasts AI to add up to $340 billion to Wall Street Profit | Mckinsey forecasts that AI could add billions to Wall Street profit by automating manual tasks.
Our Top Internships
✨ TransMarket Group - Quantitative Trader Intern | global prop trading firm that utilizes mathematical modeling and technology to participate in the financial industry.
✨ J.P Morgan Chase - Data Science Intern | an American multinational financial services firm headquartered in New York City.
✨ Nasdaq - Business Analyst Intern | an American stock exchange based in New York City and the most active stock trading venue in the US.
Our Top Full-Time Positions
✨ DRW - Algorithmic Trader | a diversified trading firm innovating across both traditional and cutting-edge markets.
✨ PDT Partners - Quantitative Researcher | a quant asset management firm of purpose-driven people that use science-based methodology to find inefficiencies.
✨ Pimco - Portfolio Associate | an investment management firm providing solutions for institutions, financial professionals, and millions of individuals worldwide.
✨ Arrowstreet Capital - Portfolio Management Associate | an American investment management firm based in Boston.
Upcoming Events
📆 12/10-12/16 NeurIPS 2023 | one of the world’s most prestigious machine learning and computational neuroscience conferences.
📆 Two Sigma - New Seekers Summit | a two-day virtual program in which you’ll have the opportunity to network with researchers at Two Sigma.
Educational Resources
🚀 [Quant Developer] HRT Beat Article | an article detailing how quant engineers at HRT discovered and patched a third-party app binary.
🚀 [Quant Trader] High-Frequency Trading | an overview of the infrastructure, techniques, and strategies used in quantitative trading.
🚀 [Quant Researcher] Change in the Market is Accelerating | a conversation with Charles McGarraugh, the head of quantitative research at Atlis.
Weekly Quant Puzzles
Question #1 - Probability
There are three coins in a hat. One with a probability 1/3 of getting heads, another with a probability 2/3 of heads, and the last coin always landing on heads. I take one coin out of the hat and flip it twice landing on heads both times. If I flip the coin twelve more times, how many heads do you expect among these flips?
Quote of the Week
“Don’t rely on luck alone. Develop a systematic approach that accounts for uncertainty and seeks to capitalize on opportunities” - Jim Simons