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.

Getting Snarky . . .


Today, it was announced that Google (whose corporate motto is “Do no evil”) is being investigated in Europe concerning the legality of Google’s new privacy policy. Good . . . it couldn’t happen to a better thug!

Carrying the Water for Politicians


The European Central Bank announced their second round of Long-Term Re-financing Operations” or LTRO this morning.  It was bigger than the first round, and over 800 banks signed up.  The European markets rallied on this news. But, what is it?  Consider that the interest cost of government bonds in Europe has increased significantly, which starves … Continue reading Carrying the Water for Politicians

The Confident Weakling


Yesterday, we learned that consumer confidence has risen to a one-year high, improving from 61.5 to 70.8 in the last month alone.  It is interesting that their confidence has risen at the same time as gasoline prices have risen.  This is unusual.  Their confidence in the improving labor market is greater than their anxiety about … Continue reading The Confident Weakling

For Whom the Bell Tolls


In the final scene of Ernest Hemingway’s 1940 classic, the American Robert Jordan lies wounded.  He awaits his certain death at the hands of General Franco’s soldiers, but he is determined to take as many of those soldiers with him as possible.  He never knows the outcome of the Spanish Civil War. Mario Draghi is … Continue reading For Whom the Bell Tolls

Holding My Breath . . . Nope!


Suppose you have a first cousin living in California and another one living in Texas.  You trust and respect them equally.  Both of them have an investment proposal for you.  You like each proposal equally.  Incredibly, each proposal projects the same revenue as the other. However, one of the proposals shows higher expenses, which means … Continue reading Holding My Breath . . . Nope!

A Thug By Any Other Name . . .


First, The Wall Street Journal tells me that Google is violating its own Privacy Policy and sharing information on users.  As I value my privacy and that of others, I felt violated. Next, I cannot access my blog, which I have written for years.  I learn that I must download Google’s new browser, Chrome, in order … Continue reading A Thug By Any Other Name . . .


Just for the record, I have been a long-time fan of Google but am mad-as-hell right now.  First, I read in the Wall Street Journal that you ignore your own privacy policy.  Now, I cannot find my blog, which I have labored over for years.  Then, you force me to download a new browser, when … Continue reading

Framing the Election . . . ??


Americans usually demand excellence but, being realists, accept something less.  Our political debate often looks for the best or most excellent solution to problems.  But, the politics of the possible makes us accept something less. Readers will recall we live in a tri-polar world of economics.  We have Austrian economics, which argues that the budget should be balanced … Continue reading Framing the Election . . . ??

Market Timing?


January was the best month for the stock market in 25 years.  Unfortunately, a huge number of retail investors have been so shell-shocked by the 2008 collapse that they still remain on the sidelines.  This is one of the primary reasons why trading volumes on the New York Stock Exchange and others have been so … Continue reading Market Timing?

Extend and Pretend


First, a little review of Accounting 101 — If you subtract total liabilities from total assets, you get net worth or capital.  If you sustain a loss on the sale of an asset, you decrease net income by the amount of the loss.  If you have no net income, you must decrease net worth or … Continue reading Extend and Pretend

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