Highly interesting table, thank you!

From my interpretation I feel confirmed in my intention to buy the longest LEAP's when Price/PeakBV is in the 1.2x range and to sell when it's again with around 1.4x at a middle valuation. Those on Peak(!)BV based numbers are not directly comparable but a very wild approximation might be to look in your table at 'Buying at 1.3x, selling at 1.5x', resulting in 17% CAGR, an incredible 8% improvement to buy and hold.

Doing such with the pure strategy of your backtest and therefore 100% of one's Berkshire holdings would be an incredible risk (wiped out by one super-long bad stretch), but doing such with 'Play/Casino' money seems to be worthwhile.

Please correct me if my thinking or interpretation of your table is flawed or you just see it differently.

Berkshire Hathaway FAQ

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