 We begin the presentation with the widely acknowledged "stylized facts " describing the distribution of the returns of financial assets: fat-tails , volatility clustering, etc.
<clarity>  We begin the presentation with the widely acknowledged "stylized facts " describing the distribution of the returns of financial assets: fat-tails , volatility clustering, etc.
 We begin the presentation with the widely acknowledged stylized facts which describe the returns of financial assets: fat-tails , volatility clustering, etc.