OpenQuant Newsletter - Edition #66
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
📰 Asia’s First Modern Prop Trading Firm Expands to Thailand | MPFunds announced its strategic expansion into Thailand, solidifying its position as the leading modern prop trading firm in Asia.
📰 Simon Sadler's Fund Segantii Shuts Down | The founder of Segantii told investors that it’s winding down and returning their money, marking the end of a 16-year run for one of the largest and most successful hedge funds in Asia
Our Top Internships
✨ Susquehanna International Group - Quantitative Researcher PhD Internship | a global quantitative trading firm founded with an entrepreneurial mindset.
✨ Maverick Derivatives - Trading Internship | a proprietary trading firm founded by experienced high-frequency traders in 2017.
Our Top Full-Time Positions
✨ Optiver - Graduate Quantitative Researcher | a proprietary trading firm and market maker for various exchange-listed financial instruments.
✨ ArrowStreet Capital - Quantitative Researcher | a quantitative investment firm that utilizes research and technology as the foundation of investments.
✨ Graham Capital Management - Portfolio Analyst, Equities | an investment management fund that focuses on macro-oriented quantitative strategies.
✨ Jane Street - Machine Learning Performance Engineer | a quantitative trading firm and liquidity provider with a unique focus on technology and problem-solving.
Upcoming Events
📆 6/10 Nanog (North American Network Operations Group) 91 | the professional association for Internet engineering, architecture and operations.
📆 Forex Paper Trading Competition | win up to $6k+ by competing in a free paper trading competition open to all traders, regardless of experience level.
Educational Resources
🚀 [Quant Trader] The ETF Handbook | a comprehensive handbook for using Exchange Traded Funds and improving ETF profitability.
🚀 [Quant Trader] Ken Griffin - CEO of Citadel Podcast | Ken shares his journey from starting Citadel after university, to leading the world's most successful hedge fund.
🚀 [Quant Developer] Introduction to CUDA Programming | an introduction to writing your first CUDA C program and offloading computation to a GPU.
Weekly Quant Puzzles
Question #1 - Brainteaser
5 pirates have looted 100 coins from a tropical island. They must vote on how to divide these coins amongst each other. The voting process is as follows:
The oldest pirate proposes a split (ex: 20, 20, 20, 20, 20)
If the oldest pirate's plan gets at least 50% approval (he can vote for himself), the plan is passed. Otherwise, he is executed and the process repeats itself with the next oldest pirate.
The process will continue until a plan is approved. How many gold coins will the oldest pirate get?
Assume the following:
All pirates are perfectly rational and place the highest priority on staying alive
After staying alive, all pirates seek to maximize earnings
Quote of the Week
“It's not clear to me that we're going to get the productivity gains out of AI that the markets are broadly hoping for” - Ken Griffin, Citadel