OpenQuant Newsletter - Edition #52
Quant News, Jobs & Internships, Upcoming Events, Puzzles and More!
Hello, fellow Quants!
Welcome to the 52nd edition of the OpenQuant newsletter. To all our readers, we’re super excited that you’ve continued to join us and participate in the growth of this newsletter. We’ve been blown away by all the emails/feedback we receive each week on how this newsletter has helped you in your quant journey, and look forward to continuing this publication into the future.
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
📰 Steven Cohen’s Firm Makes Big Portfolio Changes | Point72 has made some notable portfolio changes, reducing its stake in MSFT by 1.46% and Nvidia by 1.4%.
📰 BNP-Backed Quant Fund Nets 25% | the fund combines cross-asset investing to exploit risk premia, allowing it to maintain a successful winning spree.
Our Top Internships
✨ Blackstone - Quant Summer Analyst | a premier global investment firm investing capital on behalf of pension funds, large institutions, and individuals.
✨ Weiss Asset Management - Quant Analyst Intern | a firm that develops proprietary investment strategies designed to deliver high-risk-adjusted returns.
✨ Arcadian Asset Management - Software Engineering Co-Op | a Boston-headquartered investment management firm.
Our Top Full-Time Positions
✨ Jane Street - Machine Learning Researcher | a quantitative trading firm and liquidity provider with a unique focus on technology and problem-solving.
✨ Voleon Group - Member of Research Staff | a firm committed to the development and deployment of cutting-edge technologies in investment management.
✨ Point72 - L/S Equities Data Scientist | a global firm led by Steven Cohen that invests in multiple asset classes and strategies worldwide.
✨ ExodusPoint - Quantitative Strategist, Fixed Income | a firm that employs a global multi-strategy investment approach, seeking to deliver asymmetric returns.
Upcoming Events
📆 IMC Prosperity 2024 | a trading competition in which you form a team and build a strategy to beat the market in a 15-day trading simulation.
Educational Resources
🚀 [Quant Researcher] Man Group - A Systematic Approach to ESG | how combining data science and human overlays can help one judge a company’s ESG credentials.
🚀 [Quant Researcher] Mathematics for Machine Learning | one of the premier textbooks for learning linear algebra and analytic geometry as applied to ML.
🚀 [Quant Trader] Automation in Quant Trading by HRT | watch researchers from across HRT’s algo team dive into the importance of automation at the firm.
Weekly Quant Puzzles
Question #1 - Probability
You are given a rooted tree. On each step, you randomly choose a node and remove the subtree rooted by that node, and the node itself, until all subtrees have been removed and only the root remains. Find the expected number of steps in this process.
Quote of the Week
“People don't buy stock; it gets sold to them. Don't ever forget that.” - Jordan Belfort