Which of the following statements best reflects the scientific status of the "CAPM" The model makes equilibrium predictions that have been verified in a controlled setting, and hence is fundamentally "true" The CAPM provides a convenient logical framework on which to base policy prescription and legal argument The model cannot possibly be true because it assumes the Efficient Markets Hypothesis, which has been shown to be wrong We teach it because we have nothing better, even if the CAPM cannot possibly work in reality Fama and French have convincingly shown that the CAPM is wrong