With of the following statements is not correct with regard to Richard Rolls criticism of the CAPM?

Group of answer choices

Roll argued that tests of the CAPM involved joint hypothesis and were thus not definitive.

Roll argued that you could produce a false positive because a faulty market proxy.

Roll argued that you could produce a false negative because a faulty market proxy.

Roll proved that the CAPM was false based on the money he lost using the CAPM to trade stocks.