Thanks AndrewAMD.

But i can not understand how if SPY went from 117 to 637 , and how just Buy and hold can lead you from 10k to 195k, because in the BuyHold.c i cant see leverage.

The strategy must buy $10k SPY at 117 (10k/117=85shares), and at the end we must have 85*637=$54145, that is 15%

I think i still thinking or doing somethink wrong in my maths, or something else that i cant see..... but i do not know what it is,

For example the strategy won 119% in 2013 but SPY just won 32%, seem a 3.7 leverage but it is not in de code