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.

The Indignation of Crybabies


Let’s see . . . you expect full retirement benefits at age 55 and one of the best health care systems in Europe as well.  Oh, and paying taxes is only for chumps.  You are renowned across Europe for not filing your income tax returns, and the government barely tries to collect them.  For the 20% … Continue reading The Indignation of Crybabies

Yucky Muddy Water


Last week, Europe developed their template to resolve their financial crisis.  Stock markets around the world rallied and rallied strongly on the breakthrough.  I knew it wouldn’t last, as markets cannot go straight up without falling back for consolidation.  Plus, there had to be lots of details in the template that would concern the market. … Continue reading Yucky Muddy Water

Goose and Gander


Clients frequently ask me about making investments in businesses or real estate outside the stock market.  I am required to tell them that I have a conflict of interest, because my fee income could decrease if they reduce the funds under my management in order to make the outside investment.  In other words, it is theoretically … Continue reading Goose and Gander

So Far, So Good


When I turned on Bloomberg at 4 AM, I expected to see something about the European financial crisis, as usual.  Instead, it was a discussion about the earnings of some company.  After breathless 24/7 coverage of the crisis for months, I found this discussion of earnings to be refreshing.  (Maybe, we’ll get back to economics as well?  I miss … Continue reading So Far, So Good

The Hook Is Set!


It took a slow 18 months and a long 10 hour marathon negotiation last night, ending at 4AM, but Europe has done it!  Of course, they have not solved all their problems, but they have taken a huge step toward fiscal integration.  The hook is set, and there is no getting away. Basically, the banks … Continue reading The Hook Is Set!

Cat on a Hot Tin Stock Exchange


Did you ever hold a cat over the water?  It explodes with energy, with all four paws in frantic motion and all claws ready to hang on to anything. That’s how the market is behaving today, swinging from 150 point gains to 50 point losses within minutes.  The production of so much adrenalin is caused by … Continue reading Cat on a Hot Tin Stock Exchange

Pick a Bunny Trail


The good news is that national leaders in Europe have finally realized the grave condition of their financial system and are committed to saving it.  The bad news is that they don’t know how! In July, they agreed to set up a European Financial Stability Fund (EFSF), with about 440 billion euros or $600 billion.  Now, … Continue reading Pick a Bunny Trail

The Radical Centrist


I attended the dinner meeting at the World Affair Council last night, where Senator Mark Warner was the speaker.  Normally, our speaker discusses some international issue.  Senator Warner spoke more about domestic issues. He talked about his experience on the Gang of Six moderate senators who tried to build on the Simpson-Bowles work to break … Continue reading The Radical Centrist

Nag . . . Nag . . . Nag . . .


I know I have done this before, but it is really important to remember this website:  The market is discounting the problem of Europe and will soon face the challenges of our SuperCommittee.

The Sarko & Merko Show


At 4AM this morning, futures indicated the Dow would open up about 40 points.  Then, it dropped down to negative 6 points.  At 7AM, futures are flat.  The market is slowly twisting in the wind, waiting for the G-20 in general and Sarkozy & Merkel in particular to announce their “bazooka plan” to save the European … Continue reading The Sarko & Merko Show

Lessons From Lunatics


This weekend, I was fortunate to have my daughter visit from Texas.  I had to promise to participate with her on Saturday in the Virginia Touch Mudder, which I knew nothing about.  For info, click here: In the middle of 15 thousand screaming lunatics, one gets a different view of the economy.  These enthusiastic participants spent on … Continue reading Lessons From Lunatics

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