I learned more about governance failure from my neighborhood HOA than from most boardrooms I’ve analyzed. I live in a small annex of houses along the edge of a more extensive residential complex. We are formally members of the homeowner’s association. The drawback here is that there is no clubhouse, pool, landscaping, or snow removal. There isn’t a single service offered. Still, we pay annual dues like everyone else — but a little less, as if the lack of value justifies a mild reduction. It seemed at first like a local annoyance. I then turned to examine closer. Not only…

A few up days does not mean volatility won’t return. In fact, I think most investors expect more market turbulence in the future, not less. And, the best way to defend your portfolio against a volatile market is to do your diligence. Diligence brings you opportunities while less rigorous investors are left to panic. My firm’s research delivers unrivaled diligence and enables you to block out the noise and focus on the true earnings and valuation of companies. For example, this week’s Long Idea is an opportunity to bolster your portfolio with a safe, high-quality stock. I previously made General…