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APT, the zero-beta CAPM, and the security market line (part of the CAPM) are all theoretical models in that they require the use of assumptions that are impossible to justify rationally. Discounted cash flows (DCF) require some estimation, but the calculations are based on real, tangible data. In addition, DCF models are not difficult to test, and studies have shown that valuation strategies based on discounted cash flows can be successful at picking winning stocks. Since Vista is a literal thinker and prefers tangible solutions, she is most likely to use the discounted cash flow approach to valuation rather than a theoretical model.