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.

Wire Transfer Fraud & Other Sins


This week, I’m in San Diego attending an annual conference of financial advisors.  There are classes and workshops on the economy, the markets, the ever-increasing crush of regulation, and whatever is new.  The biggest surprise so far has been the many discussions about the increasing problem of wire transfer fraud, which is up 100% each … Continue reading Wire Transfer Fraud & Other Sins

Digital Bullets


War is a terrible thing . . . in so many ways! Several economists have now estimated the combined cost of the Iraqi and Afghan wars as $3 TRILLION or more.  That includes actual funded military expense plus an estimate of the life time healthcare costs for  the sixty thousand wounded veterans.  It does not … Continue reading Digital Bullets

Rules-of-Thumb . . . and other Truths


I’ve been a member of the National Association of Business Economics (NABE) for many years.  The joke is that we are more reality-based and less nerdy than academic economists.  I don’t know about that, but the information is certainly more useful.  Today, NABE released their survey of economists about the economy during the fourth quarter. … Continue reading Rules-of-Thumb . . . and other Truths

Owning Gold or Digging Gold


Everybody has some gold jewelry laying around the house.  For most people, that is all the gold investing they do.  However, when a person does decide to invest in gold, they usually buy it like they normally buy stock, i.e., in shares of a company that mines gold.  That has not been a good investment … Continue reading Owning Gold or Digging Gold

Big Enough Pasture ?


Much has been written about the folly of trying to out-smart the market by market-timing, i.e., selling all stocks when the market is the highest and buying all stocks when the market is the lowest.  Of course, while that is a quaint idea, nobody has ever been able to do that on a consistent basis. … Continue reading Big Enough Pasture ?

Drying Out . . .


Last year, I often wrote the U.S. economy was stronger than most people realized but was weighted down by three “wet blankets.”  They were (1) the Presidential election, (2) the Fiscal Cliff/Crisis, and (3) the European financial crisis. The first wet blanket created uncertainty, and the stock market hates uncertainty.  Historically, the market rises in … Continue reading Drying Out . . .

Big Reminders From Small Books


It is the best $1.95 you’ll ever spend — buying America:  The Pocket Guide published by Colonial Williamsburg.  You’re forced to remember that “America” is as much an idea as a place.  America-the-place is where America-the-idea happened.  And that, it is meant to be a place of  tensions and conflicts — such as, between Laws vs … Continue reading Big Reminders From Small Books

$1,000,000,000,000 Coins ?


William Buckler is a brilliant libertarian from Australia.  Like most libertarians, he embraces Austrian economics and a return to the gold standard.  He is also required reading.  Fortunately, a good friend of mine is always kind enough to share his copy . . . Thank you! The most recent issue discusses the heavy emphasis that … Continue reading $1,000,000,000,000 Coins ?

Looking Down the Pipleline


Frequently, I am asked whether I worry about inflation.  The answer is:  Yes — all the time!  There is no doubt in my mind about serious inflation coming at us.  Theoretically, it doesn’t matter that the Fed has “printed” so much money, as they can simply withdraw the excess money supply when necessary.  As a … Continue reading Looking Down the Pipleline

The Hi-Jacking of Ayn Rand


When I was nine years old, my father gave me my first gun.  As a child, I spent countless hours shooting birds for target practice (which I’m not proud of today).  As a result, it was no surprise when the Army qualified me as an Expert Marksman.  As a civilian, I have had a Concealed … Continue reading The Hi-Jacking of Ayn Rand

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