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French Fama 3-factor model. Meaning factor 1 is equities do better than bonds, factor 2 is small cap does better than large cap, and factor 3 is value does better than growth.
Fama & French later added a fourth factor, momentum IIRC. Maybe a fifth, quality.
All the simple models, like the dividend discount model, or (alpha and) beta, Sharpe and Sortino ratios, and especially Black-Scholes(-Merton) for option pricing, can be consigned to the dustbins of history. None of them works or has any predictive utility.
And I don't think it's because they were widely publicized so investors did away with the arbitrage by, e.g. bidding up SCV stocks or the more volatile high-beta stocks. They are all just useless.
