The issue with the Fama-French (1993) multi-factor model is that O A. The model outperforms the Capital Asset Pricing Model in explaining equity returns in the last 100 years, but the outperformance is not strong out-of-sample. B. All of the options O C. Except for the market factor, there is no theoretical foundation for the factors. D. It is not clear which type of risks that the model attempts to capture. O E. It is not clear the model outperforms the CAPM in other asset markets