Jester,

I no longer really understand the vg market. It used to be, IIRC, different company shares were almost always overpriced in an analysis, but, as you often modeled, which companies were likely to beat or disappoint could be sussed out. For instance, we knew Kotick was a grandmaster of lowballing estimates that looked legit, but was a set up to surprise beat the next quarter.  Perhaps I just don't understand, but the sector seems even less cogent and rule-bound than ever. I think that started around the time TTWO always had the best content, but anybody who put money into it never saw the results of the huge profits they were reaping (or, more correctly, somehow the huge revenues never made it to the bottom line.) 

How the vg's went from the high teens to here mystifies me.

You seem to have kept following and always have the best take on it. I recall you posting notes about EA's upside when it eas in the $70's, for a short-term gain play. And I bought in, and had a nice little profit to show. Which is one reason I'm here, thanks.