...Markus Pelger Thank you very much for listening to this presentation. This paper, Missing Financial Data, is joint work with Svetlana Bryzgalova from LBS; Martin Lettau from UC Berkeley; and my Ph.D. student, Sven Lerner, from Stanford University. So this paper is about firm fundamentals or firm characteristics. These are crucial for investment and asset pricing. We use this firm fundamentals to build investment strategies. For example, by sorting stocks based on these characteristics or by predicting returns given this whole universe of firm characteristics. We use this firm fundamental to build asset pricing models, for example, factor models. And we use firm characteristics to construct test assets for our models. This could be double-sorted portfolios. Now everyone who has worked with firm characteristics know there's 1 fundamental problem. Not every company has all firm characteristics observed. In fact, there's a lot of missing data. Now the key questions that we addressed in this...