There may be some truth in these CAPM and APT theories, but last year some stocks did

Question:

“There may be some truth in these CAPM and APT theories, but last year some stocks did much better than these theories predicted, and other stocks did much worse.” Is this a valid criticism?

Stocks
Stocks or shares are generally equity instruments that provide the largest source of raising funds in any public or private listed company's. The instruments are issued on a stock exchange from where a large number of general public who are willing...