1. A computer implemented method for profiling execution of an application, the computer implemented method comprising: sampling execution characteristics of the application at a plurality of sampling points to provide samples; deriving a calling context of the samples, wherein deriving the calling context of the samples comprises walking a stack to collect a stack signature at each of the plurality of sampling points; continuously executing the application between sampling points while gathering additional profiling data; determining whether a history table contains an entry for a collected stack signature; and adding a new entry for the collected stack signature in the history table and collecting a burst without weight compensation if the history table does not contain the entry for the stack signature.