Originally Posted by GunslingerZ
IIRC, last year Daniel Negreanu spent $53K on this event. And didn't cash.
This year he spent significantly less than that (12, maybe), and he made it to the money second in chips.
Keep in mind that there's a method to his madness too: what he's doing is dumping a huge number of chips onto his table, which he intends to win back.
The quantity of chips on your table puts a practical limit on the number of times you can double through - if people have only made a few rebuys and there's only, say, $20K total chips on your table, then you can't expect to build a stack much bigger than say $15K. Absolute best outcome is you knock everyone on your table out and take the whole $20K. Whereas if you've put in a ton of rebuys yourself, suddenly there might be $50K getting about on your table, and you've got a much better chance of building a dominating stack.
One year in particular Negranu used this strategy and came in third - making a sizeable profit on the tournament, even after making about $30,000 in rebuys. Other years he's bombed on the first day though. Seems this year he's found the happy medium.