The Flinchum File

Thoughtful Economic Analysis and Existential Opinions
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Welcome to The Flinchum File

I am an Accredited Investment Fiduciary at Bay Capital Advisors, an investment firm headquartered in Virginia Beach, VA. After retiring from Truist Bank, I started this firm to work more closely with a smaller number of clients, and it has been great! Our client load is about 25% of the national average.

Writing is not for the shy or the meek. It exposes a person’s mind and character. I hope you enjoy the view.

A Bigg Legend

08/03/2011

One of my favorite Wall Street legends is Barton Biggs, who was the Chief Global Investment Strategist for Morgan Stanley compiling an impressive record over many years.  I managed the portfolio of his father-in-law, who was a dear man that died at the tender age of 99, just three months short of the century mark.  … Continue reading A Bigg Legend

Non-Volatile Volatility

08/03/2011

Something interesting is happening.  Normally, the stock market falls when volatility increases or vice versa. It is not uncommon for investors to buy the volatility index (VIX), which would go up when the market goes down.  But, that longtime relationship is not working right now, why? One thought is that the VIX moves quickly during the … Continue reading Non-Volatile Volatility

Jobs, Jobs, Jobs

08/03/2011

For some reason, politicians always say the word “jobs” three times.  Coincidentally, there are three jobs reports this week.  Two of them were today, neither of them good. The Challenger report showed that job cuts are up 60% over last month.  The ADP report showed that net job growth continued for the 18th straight month, … Continue reading Jobs, Jobs, Jobs

Digital Terrorism

08/03/2011

The conservative estimate is $1.4 trillion, and the liberal estimate is $3.1 trillion for the cost of wars in Iraq and Afghanistan.  That doesn’t include the nearly 7,000 dead and tens of thousands of wounded.  An economist would also have to add to those totals the taxes the dead will never pay and the cost … Continue reading Digital Terrorism

The Binary World of Economics

08/02/2011

One of the main purposes of this blog is to provide readers with the perspective of all three primary schools of economic thought in the United States.  The first is the Austrian school, which argues a “tough love” approach to budgets, which must be balanced every year.  The second is the Keynesian school, which argues that … Continue reading The Binary World of Economics

Risk-Adjusted Returns

08/02/2011

Suppose you buy a stock and sell it one year later for a 6% profit, including dividends.  Was that a good investment or a bad investment?  The answer is that it depends . . . on how much risk you took. If you took a lot of risk, it was probably a bad investment.  If … Continue reading Risk-Adjusted Returns

Nice Whiplash!

08/01/2011

The market opened up strongly this morning with a rally that lasted about thirty minutes.  First, the ISM report came in weaker than expected but still expansionary.  More importantly, as mentioned in this morning’s blog, the European sovereign debt crisis raised its ugly head again, with the rumor that the president of Italy (who faces … Continue reading Nice Whiplash!

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