So I've followed DFV's $GME journey from beginning and think it says a lot about what's going on here. How do u go from $50k to $40ml deep value screening in about a year which btw beats $nflx and $amzn growth return holding for decades? A

1)
As someone who tried the blockbuster rinse and repeat short (unsuccessfully btw) on $gme almost a decade ago I'm quite familiar with the name. Burry's re-emergence at the end of 2018 & roughly $5ml gme position disclosure then put the stock on the deep value radar.

2)
$gme dropped like 50% in h1 2019 and his q2 disclosure indicated he had exited the name. It was at this time DFV emerged onto WSB with an essentially i'll take this shot at half MB's cost basis with the console refresh a year out thesis.

3)
I don't recall him fully articulating the thesis then, but that really didn't matter as MB remerged with a 3-4% activist stake by the Aug 2019 about 70% lower than his year end 2018 cost basis. MB wanted a buyback immediately & criticized mgmt past capital alloc failures.

4)
To be clear the thesis did not provide deep dive analysis on $GME or the industry. MB simply seemed to be of the view that the console refresh meant things were not ending anytime soon, and that simply buying back stock in size was the right move for mgmt.