When researching a stock, sometimes I stop caring about how shady the insiders might be. The quality of a business usually overpowers insiders’ shadiness. For example, Steve Madden (SHOO) is an example of terrible corporate governance. It originally began as a ‘chop stock’ (similar in concept to a pump and dump). Many of the people behind the scam went to jail or were barred from the securities industry. Steven Madden, the founder of the company, went to jail. But even after many people went to jail, the shenanigans continued. While in jail, Steve Madden was paid a high six-figure salary even though he admits that he didn’t work while in jail. Despite all of this… the stock did incredibly well since its IPO. In many cases, the underlying business can make far more money than insiders end up stealing/siphoning/wasting.