We consider the abstract structure of the monoid M of misère impartial game values. Several new results are presented, including a proof that the group of fractions of M is almost torsion-free; a method of calculating the number of distinct games born by day 7; and some new results on the structure of prime games. Also included are proofs of a few older results due to Conway, such as the Cancellation Theorem, that are essential to the analysis but whose proofs are not readily available in the literature. Much of the work presented here was done jointly with John Conway and Dan Hoey, and I dedicate this paper to their memory.