OpenQuant Newsletter - Edition #63
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
📰 Crypto Fund Valuations Skyrocketing with New Funding Methods | Crypto funds are embracing open-ended, rolling fundraise that keeps the cash coming in and quickly lifts valuations, a contrast to the traditional venture-capital model.
📰 Wall Street Firms Attempt to Thwart SEC Trading Surveillance | Citadel Securities is suing the SEC over the “consolidated audit trail” - a database created to help the SEC monitor trading activity and spot potential misconduct.
Our Top Internships
✨Point72 - Quantitative Researcher Intern | a global asset management firm led by Steven A. Cohen that invests in multiple asset classes and strategies worldwide.
✨Stripe - PhD Data Scientist Intern | a company that powers online and in-person payment processing and financial solutions for businesses of all sizes.
Our Top Full-Time Positions
✨AQR Capital Management - Associate, Research | an investment management firm built at the intersection of financial theory and practical application.
✨AlphaGrep Securities - Quantitative Trading Analyst | a quantitative trading and investment firm developing algorithmic trading strategies using math and statistics.
✨Belvedere Trading - Equities Quantitative Trader | a leading proprietary trading firm located in Chicago, specializing in equity index and commodity derivatives.
✨Capstone Investment Advisors - Junior Quantitative Developer | an alternative investment management firm operating across a range of derivatives-based strategies.
Upcoming Events
📆 6/10 Nanog (North American Network Operations Group) 91 | the professional association for Internet engineering, architecture and operations.
📆 5/15 PyCon 2024 Conference | the largest annual gathering for the community using and developing the open-source Python programming language.
Educational Resources
🚀 [Quant Trader] Headlands Technologies Trading Summary | an overview of modern quantitative trading at a proprietary trading firm.
🚀 [Quant Researcher] Gerald Rushton - Commodity Strategies | a podcast covering trend following, commodity carry, commodity congestion, and volatility carry.
🚀 [Quant Trader] Efficiently Inefficient | a book that reveals key trading strategies used by hedge funds and demystifies the secret world of active investing.
Weekly Quant Puzzles
Question #1 - Brainteaser
You are given a pile of 100 coins. You may arrange these coins into however many stacks you would like and you may put as many coins into each stack as you would like. Your payout would be the product of the number of coins among all of the stacks.
For example, if you make three stacks of sizes 20, 20, and 60, your payout is 20 x 20 x 60 = 24000. The optimal arrangement of the coins will give you a payout of a * b^c where a and b are relatively prime. Find a, b, and c.
Quote of the Week
“It's hard to find ideas that aren't picked over and harder to get real returns and differentiate yourself. We are entering a new environment. The days of big returns are gone.” - Steven Cohen