Hi Alfalogic, right now let me say that I disagree, as long as the data is correct, and the calculations are done correctly it should work out. I agree that gaps are important, but the gaps should be taken care of by the data. Therefore you do not have to worry about them when calculating the total percentage gain. I am not saying that I am a expert on this, when I get a chance I will post the example from the book so you can look at it.
Come see me at Systematic Investing group #board-966 lets talk formula plans.