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.

Get Off My PE Ratio !!


How much would you pay to receive $1.00 a year from me?  Would you pay $2?  Would you pay $200? If you paid $2, you would be paying two times the annual revenue?  If you paid $200, you would be paying a hundred times revenue.  This is the same concept as the “price-earnings (PE) ratio.” … Continue reading Get Off My PE Ratio !!

Got Googled ?


Like a high-maintence ex-wife, it was almost pleasant when Google took down this blog last week.  At first, I enjoyed the freedom from maintaining it . . . but soon started missing it.  The late Charlottesville billionaire, John Kluge, once described his last ex-wife as being his favorite ex-wife.  I’ve written one award-winning book and … Continue reading Got Googled ?

Google, Goldman, and God


I’m not sure which company I dislike the most.  One gleefully shreds our right to privacy, and the other bets against its own clients.  On the other hand, Google also makes a world of information available to average users, and Goldman Sachs has a truly great group of investment strategists. In their latest commentary, Goldman … Continue reading Google, Goldman, and God

Happy Silver Anniversary


What were you doing 25 years ago today?  I was at a real estate loan closing in Texas.  That’s when the stock market crashed . . . losing 22% of its value in one day — still the all-time greatest one-day loss. Of course, it was terrifying, especially to those who didn’t believe it was … Continue reading Happy Silver Anniversary

The Ultimate Paratrooper


No paratrooper has ever forgotten that feeling of jumping into nothing and then dropping rapidly.  It has been over 40 years since my first jump, and I can still remember every second of it. So, it is not surprising that I missed my tee time on Sunday afternoon, as I stood transfixed, watching the historic … Continue reading The Ultimate Paratrooper

Q3: Approaching the Fiscal Cliff


To see my latest quarterly column for Inside Business, please click on the hyperlink  or copy/paste it into the URL box: 

What’s the End Game?


Imagine what would happen in the United States if inflation rose from 21.5% last year to an officially estimated 25% next year but is really approaching 70%.  Imagine if our economy grew 2% last year (which it did) but was expected to drop by not less than 0.9% this year.  Imagine if the dollar lost … Continue reading What’s the End Game?

My Bold Prediction


Do you have some time?  I’d like to tell you the many complaints I have with the Simpson-Bowles Plan to fix America’s fiscal problems.  In fact, you should put your feet up, as this may take all day . . . OK, never mind!  If you’ve been reading this blog very long, you already know … Continue reading My Bold Prediction

Progress In The Weeds


Like an aircraft carrier taking a long time to change directions, we are seeing some real progress by Europe to fix themselves.  In Portugal, workers will now contribute 18% of their salary to their “Social Security,” up from 11%. In Italy, companies are now allowed to do the unthinkable — actually layoff employees when the … Continue reading Progress In The Weeds

Pet Peeve


Every year, Dr. James Koch of Old Dominion University delivers his “State of the Region” presentation on the local economy.  Yesterday, I attended that presentation, and, as usual, it was excellent! There was one table of data, however, that really bothered me.  From 2001 through 2010, the average non-government employee in the U.S. saw his … Continue reading Pet Peeve

Happy Birthday to . . .


Today is the fifth birthday of the all-time high in the Dow Jones Industrial Average, which was 14,164.  That is only 4% above where we are now. Now, think about the economy five years ago.  It was much stronger.  Unemployment was low.  Home prices were rising.  Everything was good! So, does the stock market reflect … Continue reading Happy Birthday to . . .

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