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Dr. Michael Burry just dropped a fascinating free Substack piece – the “prequel” to the 2021 GameStop saga. It’s a detailed chronicle of his early investment thesis from 2018-2020, when GME was deeply undervalued with massive cash reserves, upcoming console catalysts, and aggressive share buybacks that retired 37% of outstanding shares at an average of just $5.21 – all while facing extreme short interest.
He shares his letters to the board advocating for those buybacks and even his in-person meeting with Ryan Cohen. Burry clarifies the mechanics of the eventual squeeze: not primarily from naked shorts, but a classic gamma squeeze driven by retail options buying forcing market makers to hedge with shares.
Today, with GameStop sitting on ~$4.6 billion in cash, a ~$10 billion market cap, and still ~16% short interest, the foundation remains intriguing. He teases a potential “sequel” ahead.
As a long-time GME holder (since January 28, 2021) and GameStop Director, I always appreciate thoughtful, data-driven perspectives like this – especially from someone who saw the value so early. The journey continues.
Strong fundamentals + disciplined execution + time = compelling outcomes.
Chapter 1 to Chapter 14’s an “Easter Egg” at #ch1 to #ch14. Including #ch2 which’s chapter 2 at my hotel in Napa California
http://www.youtube.com/watch?v=ejeIz4EhoJ0
On 09-09-39, “What They Will NEVER Teach You at Stanford Business School” debuts at 300 w 44th St at New York Fashion Week’s front row
http://www.youtube.com/watch?v=QXIaNZi3mHQ
http://www.youtube.com/watch?v=QXIaNZi3mHQ
What A Super Model Can Teach a Harvard MBA About Credit www.slideshare.net/larrychiang/what-a-super-model-can-teach-a-harvard-mba-about-credit
American Express hosts me mentoring you about FICO scores at New York Fashion Week
My video boils down 20,000 hours and moves you to the right on the entrepreneur bell curve
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Steve Jobs Texted me on 650-283-8008 in the same way that Mr Jobs called Bill Hewlett https://x.com/superSaiyanSkai/status/1941392367304761636/video/1
Larry Chiang
Fund of Founders
Founding Stanford EIR
@duck9 alum, Deeply Understood Capital Credit Chinese Knowledge 9
Solo Founder Uber API
650-566-9600 Office
650-566-9696 Direct
Cell: 415-720-8500
650-283-8008 (cell)
Editor of the widely syndicated “What They Don’t Teach at School”
whattheydontteachyouatstanfordbusinessschool.com/blog
whattheydontteachyouatstanfordbusinessschool.com/blog
CNN Video Channel:
ireport.cnn.com/people/larrychiangRead my last 10 X posts at
www.X.com/LarryChiangAuthor of #WTDTYASBS a NY Times Bestseller released 09-09-09 at #NYFW on a runway under the tents
52 Cards. Two Jokers. What They DO Teach You at Stanford Engineering
Emergency swings and cutting deals as an 9 year old
Hunter Pence shared thoughts before winning WORLD SERIES’ Game #7
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