OpenQuant Newsletter - Edition #62
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
📰 US Federal Trade Commission Bans Employee Noncompetes | With new regulations around non-competes, this may mean the end of “garden leave” in the High-Frequency Trading industry.
📰 Diego Megia’s Millennium-Backed Hedge Fund Opens Milan Office | Former Millennium Management portfolio manager’s new hedge fund is setting up an office in Italy to take advantage of the tax incentives offered by the European country.
Our Top Internships
✨ Global Atlantic Financial Group - Institutional Actuarial Intern | a leading U.S. retirement and life insurance company, with a broad range of competitive products.
✨ Schonfeld - Trading Assistant | a global multi-manager platform investing capital with internal and partner portfolio managers.
Our Top Full-Time Positions
✨ Bayview Asset Management - Quantitative Model Architect | an investment management firm focused on investments in mortgage and consumer credit.
✨ Voleon Group - Data Scientist, Client Research | a quantitative hedge fund committed to solving large-scale financial prediction problems with machine learning.
✨ TransMarket Group - Senior Corporate Bond Trader | a prop trading firm that uses mathematical modeling to participate in the financial industry as a market maker.
✨ Eclipse Trader - Options Trader | a proprietary trading firm specializing in derivatives trading, including market making, with headquarters in Hong Kong.
Upcoming Events
📆 Jane Street - SEE Program | a multi-day event to meet Jane Street employees and learn how math and computer science have a real-world impact on the firm.
📆 4/29 Block Magic: A Chainlink Hackathon | a hackathon with the goal of helping students gain a deep understanding of the blockchain tech stack.
Educational Resources
🚀 [Quant Trader] Data140 - Probability for Data Science | an open-source course by UC Berkeley covering probability concepts commonly found in trading interviews.
🚀 [Quant Developer] Interviewing at Jane Street | a blog post covering all aspects of Jane Street’s interview process for trading and engineering roles.
🚀 [Quant Researcher] Causal Inference: The Mixtape | a free book covering the most popular statistical methods in observational causal inference.
Weekly Quant Puzzles
Question #1 - Brainteaser
You are the portfolio manager of a fund worth $75 million. Your fund has 5 possible asset classes that it can invest in:
Equity Options
Commodity Futures
Fixed Income
Event Contracts
Cryptocurrencies
How many ways can you invest all $75 million into these five asset classes in increments of $1 million? As an example, one investment strategy may be:
Equity Options - $7 million
Commodity Futures - $35 million
Fixed Income - $20 million
Event Contracts - $12 million
Cryptocurrencies - $1 million
Quote of the Week
“History has shown that we shouldn’t rely on governments to protect us financially. On the contrary, we should expect most governments to abuse their privileged positions as the creators and users of money and credit for the same reasons that you might commit those abuses if you were in their shoes” - Ray Dalio