ROBUSTNESS TEST是说测试的结果很明确，一般是数据经过了很多的TEST，结果很相似

SHARP RATIO是测量PORTFOLIO或者股票的回报和风险（WELL-DIVERSIFY）的比

最后一个不清楚

The value effect is the tendency of value stocks to outperform the market in the long term.

A number of explanations have been suggested for the value effect. These include

It is a compensation for risk.
It is a genuine effect, but can be explained by Q-theory
Undervalued shares necessarily trade at a lower rating than overvalued shares.
Investors over-react (over-value or over-estimate) growth.