Hi. In this lesson, we’ll show you how to design the portfolio optimizer for a back-test. The major theme of this lesson is how to design the back-test, so that it’s realistic enough that it’s results are meaningful. You’ll get familiar with data provided by Bara, which is widely used in the quant industry. You’ll practice adding the time delay that exist during live trading. You’ll learn more about design considerations in the optimization, and we’ll also learn to incorporate transaction costs in the optimizer. By the time you complete this lesson, I hope you’ll have a good foundation that you can build upon during the project. All right. Let’s get started.