In What Works on Wall Street, James O'Shaugnessy describes about 300 quantitative stock strategies. He investigates their long-term returns and risks. It is possible (but not easy) to implement many of these quantitative strategies. So these advanced strategies are not just an edge for hedge funds any more but anyone can implement them at home. It can be done by screening for stocks using very flexible criteria. Then export fundamentals and price data for each stock and then rank them on multiple criteria. Finally, compute the combined ranks.
The strategy with the highest statistical return