This paper reviews the recent literature on CAPM and APT, and reaches a surprising conclusion. While APT died a silent death, CAPM's progeny is alive and well! We provide a short review of the recent literature on the conditional CAPMs, intertemporal CAPMs, and higher-order Co-Moments-based CAPMs. Some of these multifactor extensions of CAPM not only have higher explanatory power than the three-factor Fama and French (FF) model, but also are not rejected in the empirical tests, while the FF model is rejected.