Wizard doesn't participate here that I am aware of, so I'll add a couple thoughts.
First I think that number is slightly higher than 1%, maybe 1.4 or 1.6 or something if memory serves.
Here is the way it has worked from my experience. When I hit an new All Time High (ATH), I will usually hit a number of them in a row. I mean if you are measuring by round, if you are at an ATH and win the next round....boom....new ATH. Well I don't keep track by round and don't know anyone who does, but it works the same way with sessions or days. If I am at an ATH and have a winning session, I am at a new ATH. So like I said, when it is going good, I may hit a bunch of ATH's in short order.
But then you hit some negative variance and fall back. Maybe a pretty good negative swing backwards. You are likely to bounce around at a level below that previous ATH for quite a while, until eventually you run good and hit some new ATH's.
So yeah you are actually at the peak of an ATH, a very small percentage of the time. Does that make sense?
And by the way, this is precisely why I like to track my results by expectation. What I call accumulated EV. While actual results "ping pong" all around up and down, above and below expectation, accumulated EV just climbs. Even when you are running real bad, accumulated EV grows and climbs. And that is incentive to keep pushing forward. And eventually accumulated EV and actual results always come back together.