That seems a little extreme; presumably there’s a difference between using statistical tests as a heuristic you don’t understand, and using statistical tests in a well-understood way, even if you’re not deriving finance from first principles.
Also, CAPM isn’t actually true (i.e. assumptions never hold in the real world), whereas statistics is.
That seems a little extreme; presumably there’s a difference between using statistical tests as a heuristic you don’t understand, and using statistical tests in a well-understood way, even if you’re not deriving finance from first principles.
Also, CAPM isn’t actually true (i.e. assumptions never hold in the real world), whereas statistics is.