Althought the 130/30 Long-Short Strategy isn't necessarily something we do at this time, I thought this white paper has some useful information in it about the strategy and what they call "10 alpha factors".

We now describe each of the 10 alpha factors in turn, and list the financial indicators that go into their
computation (the methodology for combining these indicators to obtain the composite factors is described
below). We refer the reader to Figure 1 (page 8) for more detail.

They list the 10 Alpha Factors as:

1. Traditional Value. The traditional-value alpha portfolio buys cheap stocks and shorts the expensive ones. We construct the traditional-value factor using price ratios such as price-to-earnings, price-to-book, price-to-cash-flow, and price-to-sales. We refer to this approach as traditional value because these ratios have long served as the traditional measures of value.

2. Relative Value. For relative-value alpha, we measure value using such industry-relative price
ratios as price-to-earnings, price-to-book, and price-to-sales. For example, the industry-relative
price-to-earnings ratio of a company XYZ is constructed by taking XYZ’s price-to-earnings ratio
and standardizing it using the median and standard deviation (computed using the median) of
that ratio across all companies in XYZ’s industry group. In this approach, a stock is considered
cheap if its ratio is less than the industry average. We also look at the same measure across time, by standardizing the industry-relative ratio of each company with its historical 5-year average and standard deviation. We consider a stock cheap if the current spread between its ratio and the industry average is less than the historical five-year average spread.

3. Historical Growth. The historical-growth alpha portfolio buys stocks with strong records of
growth and shorts those with flat or negative growth rates. We measure growth based on earnings growth rates, revenue trends, and changes in cash flows.

4. Expected Growth. The expected-growth alpha portfolio buys stocks with high rates of expected
earnings growth and shorts those with low or negative expected growth rates.
5. Profit Trends. The profit-trends alpha portfolio buys stocks showing strong bottom-line improvement and shorts stocks showing deteriorating profits or increasing losses. We measure profit trends by using the following ratios: overhead-to-sales, earnings-to-sales, and sales-to-assets. We also use trends in the following ratios: (receivables + inventories)/sales, cash-flow-to-sales, and overhead-to-sales.
6. Accelerating Sales. The accelerating-sales alpha portfolio buys stocks with strong records of
sales growth and shorts those with flat or negative sales growth. We measure the rate of increase in sales growth, i.e., the acceleration of sales.

7. Earnings Momentum. We define earnings momentum in terms of earnings estimates, not
historical earnings. The earnings-momentum alpha portfolio buys stocks with positive earnings
surprises and upward estimate revisions and shorts those with negative earnings surprises and
downward estimate revisions.

8. Price Momentum. The price-momentum alpha portfolio buys stocks with high returns over the
past 6–12 months and shorts those with low or negative returns over the past 6–12 months.

9. Price Reversal. Price reversal is the pattern whereby short-term winners often suffer downside
reversals and short-term losers tend to bounce back to the upside. These reversal patterns are
evident for horizons ranging from one day to four weeks.

10. Small Size. The small-size alpha portfolio buys the smallest decile stocks in the index and shorts the largest decile in the index. We measure size using the following metrics: market capitalization, assets, sales, and stock price.

Click to view full paper: Credit Suisse 130 30 Index White Paper.pdf