Successfully implementing a value strategy cannot be codified into an algo
EDIT: There are just too many exceptions and nuances. Every single investment involves more exceptions and nuances that would need to be coded. And if you don't think so, I would bet you don't have alpha :)
Oh plenty of tryers. Value investing is a lot harder than it looks. And what you're talking about isn't really the definition of value investing (like graham-dodd + infinite details on the individual companies). Those quant funds were running factor models and mid-frequency stat arb
EDIT: There are just too many exceptions and nuances. Every single investment involves more exceptions and nuances that would need to be coded. And if you don't think so, I would bet you don't have alpha :)