Quant Research & Strategy Intern

The role

Light Water Capital is a private investment firm and family office in Corydon, Indiana. We manage our own capital across several asset classes, and we run those strategies ourselves.

We are looking for one person to join the existing intern cohort: to extend the research already underway and to lead the development of new strategies. You would work directly with the founder and with the other interns, refining the common stock strategies we run live today and building the next set from the ground floor.

The work

• Equity strategy audit

  Review the common stock models we run live to find performance gaps and mathematical drift, then help modify the existing logic so it holds in the current market regime.

• Strategy development

  Own new strategies end to end — research, foundational modeling, building, testing, iterating. From the thought to the execution, they are yours.

• Backtesting and data

  Use our own backtesting infrastructure to validate models against slippage, liquidity constraints and asset-specific fees — including July Backtester, the Python engine we built in-house and open-sourced, with Monte Carlo, walk-forward analysis and regime detection. Data comes from paid vendors and in-house sourcing, so the tooling is not the obstacle.

• Live deployment

  This is not a theoretical exercise. Models that hold up are prepared for deployment against real capital.

• Real ownership

  Genuine responsibility from the first week: finding where the alpha leaked out of prior research, proving your own ideas in public, and working alongside a capable cohort.

Who you are

• Mathematically rigorous

  You are comfortable with expectancy, variance and R-multiple distributions, and you know why the distribution matters more than the average.

• Technically proficient

  Strong with Python or a comparable data language. Experience with Claude or Codex, and an active subscription to one of them at the $20 a month tier or above.

• Market-agnostic

  You treat an edge as a mathematical property, and you expect it to translate across equities, FX and crypto.

• High agency

  Given a high-level thesis, you can build the proof of concept independently, without being handed a manual.

What you get

• Direct access

  You work with the founder on strategy logic and on the execution architecture behind it, not at two removes from either.

• Ground-floor ownership

  You are not maintaining a legacy system. You are helping build the one that replaces it.

• Research that reaches the tape

  You see your own work move from a backtest to live capital, and you see what the market does with it.

• Public recognition

  We acknowledge our interns publicly on our LinkedIn and write about the work they produce, and you can publish under your own byline in The Dispatch — something that stays useful long after the term ends.