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.

“Bottom Fishing?”


A longtime investing principle is that only a fool invests his money based on market-timing.  The number of unknowables is infinite.  A market-timer cannot know what he doesn’t know that will ruin his expectation. That said, why does everybody keep asking if “this” is the bottom?  In a word . . . No! I cannot … Continue reading “Bottom Fishing?”

Thanksgiving Week


As I look out the window from my hotel and see the dreary weather in Dallas this morning, I suspect it looks just as dreary on Wall Street, as well as all-across Europe, regardless of the weather.  In Europe, five governments have now fallen as a result of their debt crisis, with Spain being the latest.  The … Continue reading Thanksgiving Week



Losing a client is bad enough, but losing a friend hurts far worse.  I lost one last month in Dallas.  His widow asked that I skip his funeral, in order to help her with all the estate issues later.  Early tomorrow, I will leave to help her, returning late Monday. I have been thinking about … Continue reading Bittersweet

Protecting the Investor?


It was three years ago that Bernie Madoff was exposed and sentenced to 150 years in jail.  That only took a few months.  However, it has taken the Securities and Exchange Commission three YEARS to investigate themselves and discipline eight of its employees for lousy work in auditing Madoff, despite having proof delivered to them … Continue reading Protecting the Investor?

Thoughts on Veterans Day


I participated in a Veteran’s Day Parade this weekend and found it a little hollow.  As society has tried to overcome its shameful treatment of Vietnam veterans, it has now become almost too effusive.  I listened to a lot of pretty words about service and protecting families back home and making the world “safe for … Continue reading Thoughts on Veterans Day

Mr. President, That’s My Chair


On Wednesday, the sky was falling, and the Dow lost 389 points.  Europe was killing us.  Then, Greece elected an economist as Prime Minister to take the place of the third-generation professional politician.  Then, Italy made real progress in passing a budget, when uber-politician Berlusconi will resign.  It is widely reported his replacement will also … Continue reading Mr. President, That’s My Chair

A Good View from 35,000 Feet


Most of my public speaking for the last few years has been on the subject of globalization, which fascinates me.  One of the primary thought leaders on the subject is Pulitzer-winning Tom Friedman.  Anything written by him is required reading.  His latest book, co-written with Michael Mandelbaum, is That Used To Be Us. It is … Continue reading A Good View from 35,000 Feet

Wear Your Neckbrace


Late yesterday, Berlusconi promised to resign.  U.S. markets started to rally, with the Dow closing up 101 points.  Overnight, the Asian markets also rallied.  Then, the European bond markets opened, and interests rate on Italian bonds promptly shot well above 7% for ten-year bonds, a critical level historically.  (Short term interest rates rose even more, inverting the … Continue reading Wear Your Neckbrace

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