OpenQuant Newsletter - Edition #48
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
📰 Jane Street 2023 Trading Revenue Revealed | The firm reeled in $7.3 billion of net trading revenue in just the first 9 months of 2023, according to Bloomberg.
📰 Citigroup Layoffs to Continue | Citigroup announced that it intends to cut 20,000 jobs in the next two years after posting disappointing losses over the past year.
Our Top Internships
✨ ExodusPoint - Risk Intern | a firm that takes a global multi-strategy investment approach, seeking to deliver compelling asymmetric returns.
✨ Voya Financial - Data Science Intern | a retirement, investment, and insurance company, which provides financial services.
Our Top Full-Time Positions
✨ Anti Capital - Junior Web3 Trading Strategist | a full stack cryptocurrency trading entity with a proprietary latency-sensitive trading system.
✨ Voleon Group - Data Scientist | a technology company that applies state-of-the-art machine learning techniques to real-world problems in finance.
✨ Man Group - Quantitative Researcher | an active investment management business listed on the London Stock Exchange.
✨ Bank of Montreal - Consumer Risk Portfolio Manager | a firm that offers a wide range of personal banking services.
Upcoming Events
📆 1/30 Rotman International Trading Competition | an annual event that brings teams of students to participate in a unique 3-day simulated market challenge.
Educational Resources
🚀 [Quant Researcher] WorldQuant University - MSc in Financial Engineering | a free accredited online university preparing students for careers in research and trading.
🚀 [Quant Trader] Akuna Capital Options 101 Course | a course designed to teach the basics of options trading from the perspective of an options market-maker.
🚀 [Quant Developer] Technical Reading List | a curated collection of technical articles from a software engineer at Jane Street.
Weekly Quant Puzzles
Question #1 - Statistics
You are in a research lab in a tropical rainforest and are studying the relationship between temperature and the growth of Cacao trees. Assume you have 50 data points and find a correlation coefficient of 0.75. You decide to duplicate your 50 data points and re-calculate the correlation coefficient. How much did the correlation increase?
Quote of the Week
“Never think that lack of variability is stability. Don't confuse lack of volatility with stability, ever.” - Nassim Nicholas Taleb