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.

Wrong + Wrong = Right?


Yesterday was election day in America.  Across the country, there were numerous union-weakening measures, ALL of which went down in over-whelming defeat. My experience with unions is that they produce armies of political zombies by smothering the individuality of their members.  They help perpetuate the entitlement culture that is a cancer on our country.  Yet, I was … Continue reading Wrong + Wrong = Right?

Wax On, Wax Off


The gold standard for investment management has been Modern Portfolio Theory (MPT) for most of my career.  It was mathematically proven to maximize return while minimizing risk over the long term, because it required money to be invested in multiple different asset classes, i.e., long, short, and medium term bonds:  big, small, and medium company … Continue reading Wax On, Wax Off

Meanwhile, Back in Paris . . .


The world is transfixed by what is going on in Greece and Italy.  It is uncertain who will be the leader going forward.  Can the new Greek leader adopt the EU offer, in the face of increased rioting over increasing austerity?  Will the wily but incompetent Berlusconi finally throw in the towel and let reform begin, … Continue reading Meanwhile, Back in Paris . . .

Twisting in the Wind . . .


The U.S. stock market is not in control of itself.  It is twisting in the wind, blown by breezes out of Europe.  Nobody knows what the Greek outcome will be.  We can see what increased political instability in Greece is doing to stock markets worldwide.  Now, political instability is rising rapidly in Italy, which is “too … Continue reading Twisting in the Wind . . .

Another One Bites the Dust


One of the earliest values I remember being taught as an inquisitive boy was to “mind your own business,” which is difficult for the intellectually curious, but I have have tried to hold onto that value and have been annoyed by those nosey people who do try to mind my business for me.  Maybe, that is … Continue reading Another One Bites the Dust

In a “Lighter” Vein . . .


Everybody has heard this before:  With 30% of Americans now considered obese (BMI > 30), it now costs America $147 billion annually.  Obese Medicare patients cost taxpayers an extra $1,723 every year and is rising more rapidly than other medical costs.  There has been serious discussion that Medicare premiums be increased for obese patients. Now, there is … Continue reading In a “Lighter” Vein . . .

Tail Wagging the Dog


Greece is less than 2% of the European economy and far less than 1% of the world economy, but it is beating the world stock market like a dog.  What makes it so important is that world banks, mostly European ones, could quickly be bankrupted if Greek bonds are worthless.  (And, because nobody knows who … Continue reading Tail Wagging the Dog

Extreme Brinksmanship


Last week, the European Union developed a template to save Greece now and possibly other members later.  But, the Greek people felt they had been ignored and abused by the process.  So the Greek prime minister made a bold call to hold a referendum in January, forcing the voters to choose between severe austerity or absolute … Continue reading Extreme Brinksmanship

Hold Your Britches!


Now that Greece has decided to self-immolate and to take Europe with them, the world stock markets are heading down, almost straight down.  Futures indicate the Dow will drop about 220 points at the open. Europe is already tanking.  For example, the German market is down almost 6% today.  The Spanish market is down almost an … Continue reading Hold Your Britches!

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