One-line comments and criticism: on 'CAPM: an absurd model'
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I teach CAPM as a kind of religion/belief. You neither can prove nor falsify it. 

I totally agree with the absurdity of CAPM model. 

Every professional investor knows CAPM doesn't work. I know of no portfolio manager that actually uses it. 

I agree with most of your assertions. In my opinion, CAPM is at best a waste of time. 

I share your opinion about CAPM. It has for a long time been a "taboo" in financial research and practice. 

Why you send this for review which can ruin your reputation? 

I myself think that CAPM is overemphasized and blindly used without seeing the suitability even for valuations 

CAPM is good for nothing (or it is good for the purpose different from the declared one- to be quite precise).

I have been telling my classes not to use this model for some years now. 

I agree about the general uselessness of CAPM for practical applications. 

In the U.S. Tax Court case of Gallagher, the U.S. tax court heavily discounted the CAPM model except for large entities. 

Finally someone dares say what many sensible people secretly thought. CAPM is not a good explanation. 

I couldn't agree more with your paper's title. 

Nice work... I will use it with my students in ethics in finance 

Welcome to the party of combating bad economists! 

I am convinced that CAPM it's one of the most stupid ideas around... 

My own opinion is that our inability to separate systematic from idiosyncratic risk is the root problem. 

Simply great to see you're trashing this pompous model! 

We say "Beauty is in the eye of the beholder." Perhaps we should say "Beta is in the eye of the beholder." 

It is a very good fundamental work in the jungle of too much empiricism. 

I have never believed in CAPM for circularity in its reasoning. 

The IMF carried out an analysis of Banks' profitability based on the CAPM in the last issue of its GFSR! Have a look! 

We advocate using multiple measures of estimating cost of equity to ensure reasonableness. 

CAPM is absurd, but it has many friends who are not always open to criticism. 

I appreciate your demonstration that common sense is the best available shield against phony models. 

Quite scary for poor old finance profs. like myself who have to fight the textbooks and rewrite their old teaching notes. 

Trying to prove an investment is good or bad based on stock volatility (rather than its basic merits) is silly. 

I have always regarded the CAPM as absurd because of all the irrationalities that investors display. 

Note that this is a model for which a Nobel Prize was granted. 

I would add that the real flaw is in the concept of beta itself. It's like a dog trying to bite its tail!!! 

I would suggest focusing more on the recommendation on how to calculate the beta in a sensible way. 

I think it has the right findings and it offers a good alternative for estimating the cost of equity. 

Your manuscript is impassioned with no reasonable. Every model has limitations and trying to explain (only) something. 

I agree that "there are in fact two things, science and opinion; the former begets knowledge, the latter ignorance" 

I think that your points and arguments are sufficiently strong to demonstrate this absurdity. 

I don't agree with any linear pricing models, these include CAPM and any multi-factor pricing models. 

It appears that you are saying the emperor has no clothes! 

A paper like this had to be written. I am grateful you did. 

From my experience economists do not like when somebody criticizes a widely used model. 

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