The study compared different versions of a financial model to predict future asset returns in Australia. They tested a simple model against a more complex one using data from both local and international markets. The results showed that the simple model using local market data was better at predicting returns. Adding extra information didn't improve the accuracy of the predictions. The international market data only worked well when combined with a specific type of complex model. The study also found that changes in market regulations mainly affected the volatility of asset prices, not the accuracy of the models.