OpenQuant Newsletter - Edition #78
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
📰 Bridgewater Associates Steps Back from China Stock Positions | According to filings, The US hedge fund’s holdings of Chinese stocks listed in the US have declined by 80 percent in value since September 2022.
📰 Marshall Wace to Open Office in Abu Dhabi | the firm managing $65bn+ in assets, intends to follow in line with other funds including TCI and Brevan Howard in opening an office in Abu Dhabi in the coming months.
Our Top Internships
✨ Belvedere Trading - Quantitative Trading Intern | a leading proprietary trading firm located in Chicago, specializing in equity index and commodity derivatives.
✨ Belvedere Trading - Software Engineer Intern | a leading proprietary trading firm located in Chicago, specializing in equity index and commodity derivatives.
✨ BlackEdge Capital - Quantitative Trader Intern | a proprietary trading firm specializing in options market making.
✨ BlackEdge Capital - Quantitative Developer Intern | a proprietary trading firm specializing in options market making.
Our Top Full-Time Positions
✨ Citadel Securities - Quantitative Researcher PhD Graduate | an American market-making firm providing liquidity and trade execution to retail and institutional clients.
✨ Monad Labs - Quantitative Researcher | a firm in pursuit of constant research and continuous development of leading blockchain innovation.
✨ Boerboel - Data Engineer | a proprietary trading and technology firm active on global electronic exchanges.
✨ Jump Trading - Application Systems Developer | a proprietary trading firm with a focus on algorithmic and high-frequency trading strategies.
Upcoming Events
📆 9/17 MIT Two Sigma Quant Research Coffee Chat | speak with quant researchers from Two Sigma and learn about their transition from academia to Two Sigma.
Educational Resources
🚀 [Quant Trader] A Collection of Dice Problems | a growing collection of dice-related mathematical problems, with accompanying solutions.
🚀 [Quant Researcher] Tidy Finance with Python | acquire the basic tools required to conduct financial research in Python.
🚀 [Quant Trader] The Man Who Solved the Market | the story of a mathematician who pioneered the trading algorithm era–and made $23 billion while doing it.
Weekly Quant Puzzles
Question #1 - Discrete Math
The standard procedure for shuffling a deck of cards is to take the pack face downwards in the left hand and then transfer each card one by one to the right hand, putting the second on top of the first, the third under, the fourth above, and so on until all cards are transferred.
If you perform this operation with an even number of cards and keep on repeating the shuffle in the same way, the cards will in due time return to their original order. Try with 4 cards and you will find the order is restored in 3 shuffles. In fact, where the number of cards is 2, 4, 8, 16, 32, 64, the number of shuffles to get them back to the original arrangement is 2, 3, 4, 5, 6, 7 respectively.
How many shuffles are necessary in the case of 14 cards?
Quote of the Week
“Develop into a lifelong self-learner through voracious reading; cultivate curiosity and strive to become a little wiser every day.” - Charlie Munger