OpenQuant Newsletter - Edition #58
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
📰 Sam Bankman-Fried Sentenced to 25 years in Prison | Sam finally received the verdict, over the past week, for his role in defrauding customers of the collapsed FTX crypto exchange.
📰 Friction Amongst Two Sigma Leadership Continues | disagreement among the firm’s co-founders has led to many staff departing. Most recently the Head of Global Relations has left the firm.
Our Top Internships
✨ DRW - Machine Learning Engineer Intern | a diversified trading firm innovating across both traditional and cutting-edge markets.
✨ TransMarket Group - Quantitative Trader Intern | a privately held global markets proprietary trading firm using next-generation technology in the financial markets.
Our Top Full-Time Positions
✨ Aquatic Capital Management - Quantitative Researcher | a firm managing systematic investment strategies through high-performance research.
✨ Northern Trust - Senior Quant Engineer | a firm providing asset servicing, investment management, and wealth management services for institutions.
✨ Beacon Platform - Quantitative Developer | a cloud-based platform designed to empower developers, quants, and data scientists.
✨ Qube Research and Technologies - Front Office Quant Strat | a global investment manager deploying a diverse range of investment strategies across geographies.
Upcoming Events
📆 International Quant Championship by WorldQuant | a quantitative finance competition with cash prizes from a pool of $400,000.
📆 IMC Launchpad Chicago 2024, Trading | a 2-day program for second-year students interested in trading roles at a leading global trading firm.
📆 4/22 - Optiver Market Making and Volatility Talk | meet the Optiver team, learn what a career at Optiver entails, and play an interactive market-making game.
Educational Resources
🚀 [Quant Developer] New York Systems Reading Group | a curation of texts that are of broad interest to systems and application designers.
🚀 [Quant Trader] Optiver Brain Circuit Game | a series of 10 puzzles and math games to test your analytical and mathematical ability.
🚀 [Quant Trader] Jane Street Figgie | a fast-paced game that simulates exciting elements of markets and trading.
Weekly Quant Puzzles
Question #1 - Probability
Suppose you have a deck of 20 cards with values ranging from 1 - 10. Each card appears in the deck exactly twice. You draw 2 cards at a time uniformly at random from the 20 cards. If they match in value, you remove them from the deck. Otherwise, they are put back into the deck. The game finishes once there are no more cards to draw. Each drawing of two cards is a turn. Find the expected number of turns needed to finish the game.
Quote of the Week
“The world clings to its old mental picture of the stock market because it's comforting; because it's so hard to draw a picture of what has replaced it; and because the few people able to draw it for you have no interest in doing so.” - Michael Lewis