Value factor investing aims to capture excess returns from stocks that have low prices relative to their fundamental value. Value factor was one of the most popular factors selected by equity quant investors. However, the value factor didnt generate a positive excess return over the last 15 years. Please tell me about whether you agree to the argument that Value factor was dead and why. (This is not a right or wrong answer question. You will get a full mark if your explanation is logical. You can refer to any research paper plus your opinion. If you use reference, you should write a reference source. Limit your answer to 200 words (not to 60 words) only for this question.