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Gene Fama and Kenneth French became famous for their 3-factor models based on adding SIZE and STYLE to the market excess return R M to

Gene Fama and Kenneth French became famous for their 3-factor models based on adding SIZE and STYLE to the market excess return RM to explain the excess return of a stock Ri. Please mark the only INCORRECT statement about the Fama-French 3-Factor models

a. evidence suggests that growth stocks outperform value stocks
b. Equity returns are generally higher for small cap stocks
c. the 3-Factor model can be extended to include market momentum as another factor explaining excess resturns
d. Morningstar classifies stocks and funds according to their size (small, mid, large) versus stule (vlaue, core, growth)

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