You are given a set of prices for $N$ risky securities $P_1,P_2,$dots,$P_N$ for the trading period

$t=1,$dots,$T.$ Using a pseudo$-$code and choosing appropriate shrinkage target, outline

how the Ledoit$-$Wolf shrinkage estimator for covariance matrix can be obtained and how

the Globally minimum variance portfolio based on the Ledoit$-$Wolf estimator can be

computed. $(7$ marks$)$